Street Wallet, a South African fintech known for its mobile payment solutions tailored to informal traders and service providers, has acquired Digitip, a local startup enabling digital tipping for informal workers, for an undisclosed amount. The acquisition strengthens Street Wallet’s presence in KwaZulu-Natal and in Cape Town.
As part of the transition, Street Wallet founder Kosta Scholiadis and CFO Stephen Britto will take the reins at Digitip, while Digitip founder Monica Nilsen shifts focus to trader engagement. Nilsen will continue supporting both legacy Digitip users and new Street Wallet customers. Digitip’s team remains intact post-acquisition.
Digitip users will now gain access to Street Wallet’s upgraded infrastructure, including faster payouts, lower transaction fees, and daily disbursements of eWallet 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 lands amid a wave of consolidation in South Africa’s fintech space. In August 2025, Nedbank acquired iKhokha, an SME-focused fintech, for about R1.65 billion ($93 million) to strengthen its digital services for small business clients. Stitch, a payments infrastructure company, acquired Efficacy Payments and ExitPay in two separate deals in 2025, allowing Stitch to expand card acquiring services and strengthen its fintech stack. Lesaka Technologies completed the $96 million acquisition of Adumo in October 2024, further consolidating payment infrastructure in the region.
The acquisition signals Street Wallet’s broader ambition of embedding informal workers into South Africa’s digital financial ecosystem. By consolidating Digitip, Street Wallet will offer scalable, low-cost tools that reduce friction for micro-merchants and tip-based earners.
“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 ecosystem.”
With this acquisition, Street Wallet is doubling down on its vision to lead Africa’s informal economy into a more inclusive, tech-enabled future. “Together, we are setting a new standard for digital payments in the informal sector,” added Scholiadis.
The acquisition of Digitip follows Street Wallet’s recent R6.2 million ($350,000) funding round, which pushed its valuation past R34 million ($2 million). The fresh capital will fuel product expansion and deepen its reach among street vendors and SMEs who remain underserved by traditional financial services.
Mark your calendars! Moonshot by is back in Lagos on October 15–16! Meet and learn from Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Get your tickets now: moonshot..com
