Uganda is a home to several fintech companies that make a part of Africa's payment ecosystem. Fintech companies play a fundamental role in providing financial services like Payments, Insurance, Loans and money transfers through technology like mobile Apps, web apps and API's.
The list below includes the full list of the most reputable fintech companies in Uganda that have stood the test of time. Many of these process hundreds of millions of dollars each year and are playing a core role in providing financial services for the masses in the country.
Full list of Fintech companies
DusuPay is a global payment gateway focused on international companies expanding to Africa. It was founded in Uganda but has quickly expanded to now 9 countries across Africa as of 2020. Its strength is in serving Forex, Gaming and Money remittance companies from Europe that intend to collect payments from local payment options in Africa like MPESA, MTN mobile money and online Banking.
The company services merchants like XM.com processing over $250 million on behalf of their clients every year from all over Africa
Countries of operation: Uganda, Nigeria, Kenya, South Africa, Tanzania, Rwanda, Burundi, South Sudan, Ghana, Cameroon
Customer Support: firstname.lastname@example.org
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Eversend is a fintech company based out of Uganda with alternative presence in Paris, France. They recently raised a little over $1 million in a crowd funding campaign completed earlier this year. They have branded themselves a neobank for Africans, anywhere in the world. Picking a model from N26, they plan on creating an alternative bank built for the internet. They plan on taking on the Banking system as a whole to make banking cheaper.
They recently got a license from Uganda's Central bank to enable them lend money among other services like money transfers that they are already offering.
Xente is creating an ecosystem of utilities payments. They provide an ecosystem to facilitate paying for utilities and more. They focus on shopping and payments at their core
The company is focused on the Point of Sale (for retailers) as its core advantage. They provide a range of services targeting small retailers in Uganda
Beyonic was founded from right here in Uganda. It has quickly grown to become one of the largest players in mobile transactions focusing exclusively on local mobile money disbursements from NGO's and other organizations.
It was recently bought out by MFS Africa, the Africa money transfer conglomerate from the UK in an undisclosed deal
6) Yo Uganda
You Uganda is one of the old guards in payments in Uganda. They were one of the first companies to secure a deal of integration with MTN given that the founder was a former MTN employee. They provide integrations to banks enabling easy top up and withdraw from Banks to mobile money.
After recently raising $30 million from Jeff Bezos and other investors, the company is set to make its name. The company now does over 80,000 transactions a day and boosts around 3 million users using its apps.
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