Street Wallet Acquires Digitip to Drive Financial Inclusion in South Africa

South African fintech company Street Wallet, known for its mobile payment solutions designed for informal traders and service providers, has announced the acquisition of Digitip, a local startup that enables digital tipping for informal workers. The deal, finalized for an undisclosed amount, marks a significant step in Street Wallet’s mission to expand its footprint in the informal economy.

With this acquisition, Street Wallet is strengthening its presence in KwaZulu-Natal and Cape Town. As part of the transition, Street Wallet founder Kosta Scholiadis and CFO Stephen Britto will now lead Digitip, while Digitip founder Monica Nilsen will focus on trader engagement.

Nilsen will continue to support both existing Digitip users and new Street Wallet customers, ensuring a smooth transition. Importantly, Digitip’s team remains intact post-acquisition.

Digitip users stand to benefit from Street Wallet’s upgraded infrastructure, which offers faster payouts, reduced transaction fees, and daily eWallet disbursements via ABSA CashSend. “This is a game-changer for our community,” said Nilsen. “We are unlocking more earnings and a smoother experience for informal workers.”

The acquisition comes amid a wave of consolidation in South Africa’s fintech sector. In August 2025, Nedbank acquired SME-focused fintech iKhokha for R1.65 billion ($93 million) to bolster its digital services. Payments infrastructure company Stitch also completed acquisitions of Efficacy Payments and ExitPay earlier this year to strengthen its card acquiring services. In late 2024, Lesaka Technologies purchased Adumo for $96 million, further consolidating payment infrastructure in the region.

Street Wallet’s integration of Digitip underscores its broader ambition to bring informal workers into South Africa’s digital financial ecosystem. “Our goal is to simplify transactions and drive financial inclusion,” said Britto. “We are building bespoke fee structures that make it easier for traders to join the banking system.”

Scholiadis added, “Together, we are setting a new standard for digital payments in the informal sector.”

The move follows Street Wallet’s recent R6.2 million ($350,000) funding round, which pushed its valuation beyond R34 million ($2 million). The fresh capital will fuel product expansion and allow the company to deepen its reach among street vendors and SMEs underserved by traditional financial services.

By consolidating Digitip, Street Wallet is doubling down on its vision of leading Africa’s informal economy into a more inclusive, tech-driven future.