Fintech company Street Wallet merges with Digitip in South Africa's fintech consolidation surge
African Fintech Startup Street Wallet Acquires Digitip
In a move aimed at simplifying transactions and driving financial inclusion in Africa's informal economy, Street Wallet, a payments infrastructure company, has acquired Digitip, a local startup enabling digital tipping for informal workers.
The acquisition comes amid a wave of consolidation in Africa's fintech space. Notable recent acquisitions include Nedbank acquiring iKhokha and Stitch acquiring Efficacy Payments and ExitPay in two separate deals in 2025.
Street Wallet's goal is to offer scalable, low-cost tools that reduce friction for micro-merchants and tip-based earners. With this acquisition, Street Wallet aims to lead Africa's informal economy into a more inclusive, tech-enabled future.
As part of the deal, Street Wallet takes over the founding board member Thomas Böttger from Digitip. Monica Nilsen, Digitip's founder, will continue supporting both legacy Digitip users and new Street Wallet customers. Kosta Scholiadis and Stephen Britto will take the reins at Digitip, while Monica Nilsen shifts focus to trader engagement.
The Digitip team remains intact post-acquisition, and Digitip users will gain access to Street Wallet's upgraded infrastructure. This includes faster payouts, lower transaction fees, and daily disbursements of eWallet via ABSA CashSend.
Street Wallet has secured a R6.2 million ($350,000) funding round, pushing its valuation past R34 million ($2 million). The fresh capital will be used for product expansion and deepening Street Wallet's reach among street vendors and SMEs.
Scholiadis added that the acquisition of Digitip is setting a new standard for digital payments in the informal sector. Britto stated that they are building bespoke fee structures to make it easier for traders to join the banking ecosystem.
Together, Street Wallet and Digitip are working towards a more inclusive future for Africa's informal economy.
On a separate note, our website's Moonshot event is returning to Lagos on October 15-16. Featuring Africa's top founders, creatives, and tech leaders, tickets are now available.
This acquisition marks an exciting step forward for Street Wallet and Digitip, and we look forward to seeing the impact they will have on Africa's informal economy.
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