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, whileStreet Wallet Acquires Digitip to Accelerate Financial Inclusion for Informal Workers in South Africa expanding its technology and service offerings.

Street Wallet’s acquisition of Digitip will support this growth, with Digitip users and merchants now able to benefit from Street Wallet’s enhanced technology stack and infrastructure, enabling faster payouts, lower transaction costs, and a smoother user experience. 

Together, the two companies will provide greater value for traders, small businesses, and informal workers across KwaZulu-Natal. “This is a game-changer for Digitip users and clients. Our community can now earn more through lower transaction costs, receive payouts daily, and benefit from a smoother, more advanced platform. With Street Wallet’s technology and infrastructure, the experience becomes faster, simpler, and more rewarding for everyone,” says Monica Nilsen, Founder of Digitip.

This move also underscores Street Wallet’s broader strategy of embedding informal workers into the digital financial ecosystem. With Digitip able to offer payouts through ABSA CashSend, the acquisition will further broaden Street Wallet’s reach and accelerate its mission to empower informal workers across South Africa.

“The consolidation of Digitip is a significant step for Street Wallet. Our intention is to make transacting easier and provide greater financial inclusion. We aim for our partners to join us on this journey, providing bespoke fee structures that allow traders into the banking ecosystem,” says Stephen Britto, Chief Operations and Financial Officer at Street Wallet.

With fresh funding and the acquisition of Digitip, Street Wallet continues to grow its position as a leading force in Africa’s informal economy, offering practical solutions that reduce barriers to entry for traders, SMEs, and informal workers while supporting the continent’s transition to a more inclusive financial future.

“Street Wallet’s acquisition of Digitip accelerates our mission to lead Africa’s transition from cash to digital. This move expands our presence into KwaZulu-Natal and, together, we’re unlocking scale and efficiency for traders and small businesses while setting a new standard for financial inclusion in the informal economy,” says Kosta Scholiadis, Founder and CEO of Street Wallet.