Startups ranked by AI-estimated valuation
South Africa’s 20 most valuable startups
A quarterly ranking of non-listed South African startups that have already raised funds, established by artificial intelligence from public information. The market sets the value; AI models estimate it.
Listed benchmarks
Karooooo · Software › vehicle telematics (Cartrack) · Nasdaq · KAROLesaka Technologies · Fintech › payments and lending · Nasdaq and JSE · LSAK
Not ranked: no intention is possible on a listed company.
The market at a glance
20companies ranked
36companies on the radar
USD 715M (USD 643M of equity)raised in 2025
94 deals (85 equity rounds)rounds in 2025
Partech counts USD 715M raised by South African startups in 2025 (+21%), of which USD 643M in equity across 85 rounds, making South Africa Africa's #1 equity market by value and deal count; debt was only USD 72M. Africa: The Big Deal counted USD 484M to end-October 2025 (USD 449M equity), with South Africa leading continental equity since 2023 and recording the most exits (56 since 2019, incl. iKhokha and Bank Zero). No South Africa-specific total for 2026 was found; continental H1 2026 funding was USD 1.44bn (TechCabal), with SA rounds including Moment (USD 22M), Littlefish (USD 9.5M) and NjiaPay (USD 2.1M). Sources: Partech Africa Tech VC Report 2025 (Jan 2026), Africa: The Big Deal, South Africa focus (Jan-Oct 2025). Intention counters will be shown above a threshold of amount and number of Backers.
National ranking · all sectors
Snapshot23 Oct 2026A snapshot taken on 23 Oct 2026
This ranking shows the startups as they stood on 23 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 17 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
This ranking shows the startups as they stood on 23 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 17 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
By sector55% Fintech10% Business software10% Cybersecurity10% Food & agriculture5% Healthtech5% Media & gaming5% Mobility & logistics
| # | Company | Sub-sector | Known funding | Estimated valuation (AI) · range | Pool of InterestsInterest: a free, non-binding declaration on a company, or on a sector within an area, made during the free phase of a pool. Pool: all the Interests declared on the same target. This column shows the number of Backers and the combined amount of their tickets, to validated members only. Terms for Backers → | BackBacking a startup on Uback (pronounced “you back”) can be done in two ways: Interest · free: a non-binding declaration that signals your demand for a company or a sector. You can move or withdraw it at any time, with up to 5 at once. Intention · coming soon: a paid, confirmed declaration, still non-binding. Once its pool reaches critical mass, it is presented to a company by a partner desk. Neither is an order nor a commitment to invest. Terms for Backers → |
|---|---|---|---|---|---|---|
| 1 | Tyme GroupJohannesburg · founded 2012 About 15 million customers in Africa; its sister bank GoTyme operates in the Philippines. |
Fintech › digital bank | raised Series D · USD 250M · Dec 2024 (Nubank; M&G Catalyst) |
Last known equity round: Series D · USD 250M · Dec 2024 (Nubank; M&G Catalyst) Published valuation: USD 1.5bn (Dec 2024)Method |
Be the first | Back |
| 2 | JumoCape Town · founded 2014 | Fintech › banking-as-a-service | USD 200M raised Funding round · USD 120M · Nov 2021 (Fidelity Management & Research; Visa, Kingsway Capital) |
Last known equity round: Funding round · USD 120M · Nov 2021 (Fidelity Management & Research; Visa, Kingsway Capital) Published valuation: USD 400M (Nov 2021)Method |
Be the first | Back |
| 3 | ClickatellCape Town · founded 2000 Reports more than 10,000 business customers. |
Software › chat commerce / CPaaS | raised Series C · USD 91M · Nov 2021 (Arrowroot Capital; Kennedy Lewis Investment Management, Endeavor Global, Harvest) |
Last known equity round: Series C · USD 91M · Nov 2021 (Arrowroot Capital; Kennedy Lewis Investment Management, Endeavor Global, Harvest)Method | Be the first | Back |
| 4 | YocoCape Town · founded 2014 Founder Katlego Maphai stepped down as CEO in September 2025. |
Fintech › SME payments | USD 100M+ raised Series C · USD 83M · Jul 2021 (Dragoneer Investment Group; HOF Capital, Partech, Velocity Capital, Orange Ventures) |
Last known equity round: Series C · USD 83M · Jul 2021 (Dragoneer Investment Group; HOF Capital, Partech, Velocity Capital, Orange Ventures)Method | Be the first | Back |
| 5 | StitchCape Town · founded 2021 Clients include Takealot, Mr D, MTN, Vodacom, Shyft, Bash and Luno; acquired ExiPay in 2025. |
Fintech › payment infrastructure | USD 107M raised Series B · USD 55M · Apr 2025 (QED Investors; Flourish Ventures, Norrsken22, Glynn Capital, Ribbit Capital) |
Last known equity round: Series B · USD 55M · Apr 2025 (QED Investors; Flourish Ventures, Norrsken22, Glynn Capital, Ribbit Capital)Method | Be the first | Back |
| 6 | VALRJohannesburg · founded 2018 Over 250,000 retail and 500 institutional clients at the time of the round. |
Crypto › exchange | raised Series B · USD 50M · Mar 2022 (Pantera Capital; Alameda Research, Cadenza, CMT Digital, Coinbase Ventures) |
Last known equity round: Series B · USD 50M · Mar 2022 (Pantera Capital; Alameda Research, Cadenza, CMT Digital, Coinbase Ventures) Published valuation: USD 240M (Mar 2022)Method |
Be the first | Back |
| 7 | OzowJohannesburg · founded 2014 | Fintech › account-to-account payments | raised Series B · USD 48M · Nov 2021 (Tencent; Endeavor Catalyst, Endeavor Harvest Fund) |
Last known equity round: Series B · USD 48M · Nov 2021 (Tencent; Endeavor Catalyst, Endeavor Harvest Fund)Method | Be the first | Back |
| 8 | NakedJohannesburg · founded 2018 | Insurtech › digital insurer | raised Series B2 · USD 38M · Jan 2025 (BlueOrchard; Hollard, Yellowwoods, IFC, DEG) |
Last known equity round: Series B2 · USD 38M · Jan 2025 (BlueOrchard; Hollard, Yellowwoods, IFC, DEG)Method | Be the first | Back |
| 9 | LulaCape Town · founded 2014 Formerly Lulalend. |
Fintech › SME lending | raised Series B · USD 35M · 2023 (Lightrock; IFC, Quona Capital, DEG, Triodos Investment Management) |
Last known equity round: Series B · USD 35M · 2023 (Lightrock; IFC, Quona Capital, DEG, Triodos Investment Management)Method | Be the first | Back |
| 10 | Peach PaymentsCape Town · founded 2012 Acquired software developer Operativa in 2024. |
Fintech › payment gateway | raised Series A · USD 31M · Apr 2023 (Apis Growth Fund II; UW Ventures, Launch Africa, AG Ventures) |
Last known equity round: Series A · USD 31M · Apr 2023 (Apis Growth Fund II; UW Ventures, Launch Africa, AG Ventures)Method | Be the first | Back |
| 11 | HealthleapCape Town · founded 2022 Used by more than 50 hospitals, including Houston Methodist and Penn Medicine. |
Healthtech › clinical AI screening | USD 38M raised Series A · USD 30M · Oct 2026 (Hummingbird Ventures; Sequoia Capital, First Round Capital), after a USD 8M seed |
Last known equity round: Series A · USD 30M · Oct 2026 (Hummingbird Ventures; Sequoia Capital, First Round Capital)Method | Be the first | Back |
| 12 | Carry1stCape Town · founded 2018 Operates across Africa with offices in Cape Town, Lagos and Nairobi. |
Gaming › mobile games publisher and marketplace | raised Pre-Series B · USD 27M · Jan 2023 (Bitkraft Ventures, a16z; TTV Capital, Alumni Ventures, Lateral Frontiers, Kepple Ventures) |
Last known equity round: Pre-Series B · USD 27M · Jan 2023 (Bitkraft Ventures, a16z; TTV Capital, Alumni Ventures, Lateral Frontiers, Kepple Ventures)Method | Be the first | Back |
| 13 | MomentCape Town · founded 2023 Reports 600,000 transactions a day; partner Sanlam for embedded insurance. |
Fintech › payment infrastructure | USD 55M raised Series A · USD 22M · Aug 2026 (AlphaCode Venture Partners; General Catalyst, MultiChoice, Canal+) |
Last known equity round: Series A · USD 22M · Aug 2026 (AlphaCode Venture Partners; General Catalyst, MultiChoice, Canal+)Method | Be the first | Back |
| 14 | PineappleJohannesburg · founded 2017 | Insurtech › digital insurer | raised Series B · USD 21M · Nov 2023 (Futuregrowth, Talent10, MIC; Old Mutual ESD, Lireas Holdings, ASISA ESD Fund, E4E Africa) |
Last known equity round: Series B · USD 21.3M · Nov 2023 (Futuregrowth, Talent10, MIC; Old Mutual ESD, Lireas Holdings, ASISA ESD Fund, E4E Africa)Method | Be the first | Back |
| 15 | AeroboticsCape Town · founded 2014 Founded by James Paterson and Benji Meltzer; serves growers in South Africa, the US and Australia. |
Agritech › precision farming | raised Series B · USD 17M · Jan 2021 (Naspers Foundry) |
Last known equity round: Series B · USD 17M · Jan 2021 (Naspers Foundry)Method | Be the first | Back |
| 16 | iiDENTIFiiCape Town | Identity › biometric verification | raised Growth round · USD 15M · Sep 2022 (Arise; Rabobank Partnerships, Norfund, NorFinance, FMO) |
Last known equity round: Growth · USD 15M · Sep 2022 (Arise; Rabobank Partnerships, Norfund, NorFinance, FMO)Method | Be the first | Back |
| 17 | AURACape Town · founded 2017 1.2 million paying subscribers; partners include Uber, FNB and Samsung; expanding in the US. |
Software › emergency response platform | USD 22.8M raised Series B · USD 15M · May 2025 (Cathay AfricInvest Innovation Fund, Partech) |
Last known equity round: Series B · USD 14.6M · May 2025 (Cathay AfricInvest Innovation Fund, Partech)Method | Be the first | Back |
| 18 | ContactableCenturion · founded 2012 Clients in finance, telecoms, insurance and retail. |
Identity › KYC and fraud | raised Funding round · USD 14M · Sep 2025 (Venture Capitalworks; Fireball Capital, Ke Nako Capital, Mavovo) |
Last known equity round: Funding round · USD 13.5M · Sep 2025 (Venture Capitalworks; Fireball Capital, Ke Nako Capital, Mavovo)Method | Be the first | Back |
| 19 | GoMetroCape Town · founded 2012 Expanding in the UK, Europe and South Africa. |
Mobility › fleet electrification software | raised Series A · USD 11M · Nov 2023 (Zenobē Energy) |
Last known equity round: Series A · USD 11.4M · Nov 2023 (Zenobē Energy)Method | Be the first | Back |
| 20 | NileCape Town · founded 2021 About USD 16.4M raised to date, including USD 5.1M in 2022 led by Naspers Foundry. |
Agritech › B2B produce marketplace | USD 16M+ raised Series A · USD 11M · Jun 2025 (Cathay AfricInvest Innovation Fund; FMO, Platform Investment Partners) |
Last known equity round: Series A · USD 11.3M · Jun 2025 (Cathay AfricInvest Innovation Fund; FMO, Platform Investment Partners)Method | Be the first | Back |
Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale. · Terms
Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main operations in South Africa. Request a correction
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How to read this ranking
Rank
Companies are ranked by AI-estimated valuation, highest first. The market sets the value; AI models estimate it.
Estimate
An AI-estimated valuation, its uncertainty range and its order of magnitude. Indicative, and imperfect by nature.
- Hundreds of k$
- Millions $
- Tens of M$
- Hundreds of M$
- Unicorn
- Decacorn
- Hectocorn
Rankings by sector
Four verticals at launch, more when the feasibility test allows.Coming soon · Top 10
Fintech
Digital banking, payments, payment infrastructure, SME lending and crypto.
Coming soon · Top 10
Insurtech & identity
Digital insurers, biometric verification and fraud prevention.
Coming soon · Top 10
Software & AI
Messaging platforms, clinical AI, safety apps and industrial AI.
Coming soon · Top 10
Gaming & consumer
Mobile games publishing and consumer services.
HealthtechEdtechAgritechEnergyMobility
The Uback Fundraising Desk in South Africa
Introductions made by a Fundraising Desk partner, currently being selected
An adviser licensed by the FSCA (Financial Sector Conduct Authority), the only party entitled to present Backers’ demand to companies for their funding rounds. Sales of existing shares are handled by Secondary Sales Desks, assigned company by company. Uback remains a media: it ranks and aggregates intentions, it takes part in no transaction.
—deals worked on
—deals closed
—average response time
Capital raising advisers
Become Uback’s Fundraising Desk partner in South Africa
- Foreign investors you would not find on your own
- Your name on every ranking of the country
- Backers’ demand on each company, before its round opens
- The “Uback Fundraising Partner in South Africa” title on your profiles
Radar · known eligible companies, not ranked
Sorted by date of last round, with no judgement and no AI call. Undisclosed amount: the round is confirmed by the press, not its amount.
- Jem · HR tech › frontline workforce platformSeries A · USD 8.4M · Aug 2026 (Quona Capital; University Technology Fund, E4E, Next176/Futuregrowth, Iain Williamson)Back
- Wamly · HR tech › video hiring platformSeries A · USD 2.9M · Aug 2026 (Hlayisani Capital; Knife Capital)Back
- HyperDev · Software › AI coding agentPre-seed · USD 1M · Jul 2026 (Loom Ventures)Back
- Refiant AI · Software › AI model efficiencySeed · USD 5M · Apr 2026 (VoLo Earth Ventures)Back
- AI Diagnostics · Healthtech › AI tuberculosis screeningPre-Series A · USD 5M · Apr 2026 (The Steele Foundation for Hope; iFSP Group, Global Innovation Fund, Africa Health Ventures, Savant)Back
- Littlefish · Fintech › merchant softwareSeries A · USD 9.5M · Mar 2026 (Partech; TLcom, Flourish Ventures, Proparco)Back
- NjiaPay · Fintech › payment orchestrationSeed · USD 2.1M · Mar 2026 (Newion)Back
- SwiftVEE · Agritech › livestock auction marketplaceSeries A · USD 10M · Nov 2025 (HAVAÍC, Exeo Capital; Iain Williamson, Mike Kirsten, Carlo Dickson, Zire Africa)Back
- Plentify · Energy › smart home energy managementSeries A · amount undisclosed · Nov 2025 (Buffet Investments)Back
- The Invigilator · Edtech › online assessment proctoringSeries A · USD 11M · Sep 2025 (Kaltroco)Back
- Salus Cloud · Software › DevOps platformSeed · USD 3.7M · Jun 2025 (Atlantica Ventures, P1 Ventures; Lofty Inc. Capital, Everywhere Ventures)Back
- Khula · Agritech › farm marketplaceSeries A · USD 6.7M · Mar 2025 (E Squared Investments; Absa Group, AECI, PepsiCo Kgodiso Development Fund)Back
- Insight Terra · Climate tech › industrial environmental monitoringSeries A extension · USD 5.7M · Jan 2025 (E3 Capital; Fireball Capital, Atlantic Bridge, Globalive, JLR Star)Back
- Pargo · Logistics › parcel pick-up networkVenture round · USD 4M · Oct 2024 (3Capital Ventures; Endeavor, SAAD Investment Holdings, UW Ventures)Back
- Happy Pay · Fintech › buy now pay laterPre-seed · USD 1.8M · Sep 2024 (E4E Africa, 4Di Capital; DotExe Ventures, Launch Africa, Equitable Ventures, Felix Strategic Investment)Back
- OfferZen · HR tech › developer hiring marketplaceVenture round · USD 4.3M · Feb 2024Back
- Outsized · HR tech › freelance consultants platformSeries A · amount undisclosed · Oct 2023 (Knife Capital)Back
- Revio · Fintech › recurring paymentsSeed · USD 5.2M · Sep 2023 (QED Investors, Partech; Speedinvest, RaliCap, Everywhere VC)Back
- Root · Insurtech › insurance infrastructureFunding round · USD 1.5M · Sep 2023 (Invenfin)Back
- Kena Health · Healthtech › telemedicineSeed extension · USD 2.1M · Jun 2023 (Next176; Tofino Capital, Cardo Health)Back
- Envisionit Deep AI · Healthtech › AI medical imagingSeed · USD 1.6M · Mar 2023 (New GX Ventures)Back
- Sendmarc · Cybersecurity › email domain protectionSeries A · USD 7M · Feb 2023 (Atlantica Ventures)Back
- Lelapa AI · AI › African-language modelsSeed · USD 2.5M · Feb 2023 (Atlantica Ventures, Mozilla Ventures; Jeff Dean, Karim Beguir)Back
- Wetility · Energy › solar subscriptionSeries A · ZAR 930M of equity and debt · 2023 (Metier Sustainable Capital; Sanlam, Industrial Development Corporation); equity share not disclosedBack
- SweepSouth · Consumer › home services marketplaceGrowth round · USD 11M · Sep 2022 (Alitheia IDF; Naspers Foundry, Michael and Susan Dell Foundation, Futuregrowth, Endeavor Catalyst)Back
- DataProphet · Software › industrial AISeries A · USD 10M · Aug 2022 (Knife Capital; Industrial Development Corporation, Norican)Back
- Sava · Fintech › spend managementPre-seed · USD 2M · Jul 2022 (Quona Capital; Breega, CRE Ventures, Ingressive Capital, RaliCap)Back
- Talk360 · Consumer › international calling appSeed · USD 4M · Jun 2022 (HAVAÍC; 4Di Capital)Back
- LifeCheq · Fintech › wealth and adviceSeries A · USD 3.3M · May 2022 (Naspers Foundry)Back
- Floatpays · Fintech › earned wage accessSeed · USD 4M · Jan 2022 (Global Founders Capital, Base Capital, Finca Ventures, Raba Partnership)Back
- Entersekt · Identity › authentication and fraudGrowth investment · amount undisclosed · Dec 2021 (Accel-KKR)Back
- Ctrl · Insurtech › digital brokerSeed · USD 2.3M · Jul 2021 (Naspers Foundry)Back
- Revix · Crypto › investment platformFunding round · USD 4M · Apr 2021 (Qatar Development Bank)Back
- Valenture Institute · Edtech › online high schoolVenture round · USD 7M · Sep 2020 (GSV Ventures)Back
- Sun Exchange · Energy › solar project developerSeries A · USD 4M · 2020 (ARCH Emerging Markets Partners)Back
- Snapplify · Edtech › digital textbooks platformVenture round · USD 2M · Sep 2019Back
Born in South Africa, based elsewhere
Companies of South African origin whose main operations are now abroad: not ranked, shown with the law governing their shares.
- Cerebrium · Software › serverless AI infrastructure
Founded in 2021 by South African entrepreneurs; Y Combinator company based in New YorkSeed · USD 8.5M · Jul 2025 (Gradient Ventures; Y Combinator)Back - LXE Hearing (hearX) · Healthtech › hearing devices
hearX was founded in Pretoria; merged with Eargo in 2025 into LXE Hearing, run from the United StatesUSD 100M from Patient Square Capital at the merger · Apr 2025Back
Born elsewhere, based in South Africa
Companies founded abroad whose main operations are in South Africa.
- Planet42 · Fintech › car subscription
Founded by Estonian entrepreneurs; operations run from JohannesburgFunding round · USD 15M of equity · Feb 2023 (Naspers Foundry, ARS Holdings), alongside debt - Yaga · E-commerce › second-hand fashion marketplace
Founded in Estonia in 2017 and based in Tallinn; South Africa is its main market (ranked as Estonian in Second-hand)Pre-Series A · EUR 4M · Oct 2025 (Specialist VC; H&M Group, Trind Ventures)
Not ranked
- Payflex · Bought by Zip Co in 2021
- iKhokha · Bought by Nedbank in 2025
- Bank Zero · Bought by Lesaka in 2025
- DocFox · Bought by nCino in 2026
- Optasia · Listed on the JSE since Nov 2025; based in Dubai
- Paymenow · Equity below USD 1M; its large financings are debt
- hearX · Merged with Eargo in 2025 (LXE Hearing, run from the United States)
- Takealot · Controlled by Naspers
- OneCart · Bought by Massmart (Walmart) in 2021
The method in South Africa
Calendar. Quarterly ranking, published on the 17th of January, April, July and October. Next edition: January 17, 2027.
Eligibility: at least $1M raised in equity, non-listed company, main operations in South Africa.
Fundraising Desk sought. An adviser licensed by the FSCA (Financial Sector Conduct Authority).
Sources. South African, African and international business and technology press (TechCentral, ITWeb, Business Day, News24, Daily Maverick, TechCabal, Disrupt Africa, Launch Base Africa, TechCrunch, Bloomberg, Reuters), Partech and Africa: The Big Deal data, company and investor announcements.