South African Fintech LittleFish Raises Funding to Scale SME Banking
TLDR
- South African fintech startup LittleFish secures funding from TLcom Capital and Flourish Ventures to scale operations
- LittleFish founded in 2021 aims to bridge financial services gap for SMEs in Africa through digital platform for banks
- TLcom Capital’s first investment in South Africa recognizes founders' expertise, vision to support banks, and strategic partnership with Visa
South African fintech startup LittleFish has secured an undisclosed amount of funding from TLcom Capital and Flourish Ventures to help scale its operations. Founded in 2021, it aims to close the financial services gap for SMEs across Africa by providing banks with a digital platform to better serve these businesses.
Through partnerships with financial institutions, LittleFish offers financial services, including payment processing and credit access. This model allows banks to retain their SME clients while enhancing service delivery with more agile, customer-focused solutions.
The funding round marks TLcom Capital’s first investment in South Africa. The firm highlighted the founders' fintech expertise, their bold vision to support banks in competing with fintechs, and LittleFish’s strategic partnership with Visa, which strengthens the startup's market position.
Key Takeaways
Informal players account for up to 90% of businesses in Africa and represent a massive opportunity already being tapped by Africa’s budding technology startups. Across the continent, LittleFish faces competition from upstarts offering comparable and vertical services such as Float, Lenco, Boya, Prospa, and Brass. Essentially, layering digital solutions on offline business activity—from payments to inventory management and fulfillment—helps merchants operate efficiently and scale while generating returns for startups and venture backers.
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