Street Wallet Acquires Digitip to Accelerate Financial Inclusion for Informal Workers in South Africa

Source: Financial IT

Street Wallet, the South African fintech empowering informal traders and service providers with accessible, low-cost digital payment solutions, is delighted to announce its acquisition of Digitip, a South African startup enabling informal workers to receive digital tips. The move strengthens Street Wallet’s footprint in KwaZulu-Natal and accelerates its mission to empower informal traders to enter the digital economy.

The announcement comes shortly after Street Wallet closed a successful funding round, securing R6.2 million ($350,000) in new capital and valuing the startup at more than R34 million ($2 million). The investment will support Street Wallet’s goal of bringing South Africa’s street vendors and SMEs into the digital economy, while Street Wallet Acquires Digitip to Accelerate Financial Inclusion for Informal Workers in South Africa expanding its technology and service offerings.