'Untapped' homegrown digital startup market bringing investors to the yard

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Fintech can meaningfully contribute towards addressing the triple challenges of inequality, unemployment and poverty, but it remains stagnant due to the inequality gap. Picture: iStock
Fintech can meaningfully contribute towards addressing the triple challenges of inequality, unemployment and poverty, but it remains stagnant due to the inequality gap. Picture: iStock

The growth in South Africa's digital startups has seen investors loosen their purse strings and strike big deals in this sector of the economy - which is largely seen as untapped.

South African's digital economy is dominated by the fintech landscape, mainly focused on payments and remittance services, with a number of innovators already making inroads in the platform that is disrupting the established banking and money transfer system.

Over the past decade, a range of enterprises in insurtech, micro-lending, comparison solutions, and savings and investments services have emerged, tapping into what is perceived as the economy of the future and targeting the country's underserved population.

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