In a continent where informal economies shape financial behaviour, South Africa’s StokFella is proving that the future of fintech may well lie in the collective. The social finance startup has been named South African Future Trust’s 2025 Tech Entrepreneur Award winner, a recognition that positions it among Africa’s most transformative digital ventures redefining trust, collaboration and financial inclusion.
At its core StokFella is not just a fintech platform, it is a movement. The company digitises traditional community savings groups (stokvels) that mobilise billions of rand across South Africa each year transforming how people save, lend and invest together.
“At StokFella, we have mastered the art of looking at the past and the future at the same time,” said Pearson Maake, Co-Founder and Head of Stokvel Sales & Business Development. “The past; we honour those who laid the foundation of trust, unity, and collective savings. The future; that’s us, enhancing that foundation with clarity, digitising systems, and embodying the spirit of collective power as we charge forth.”
Founded in Johannesburg, StokFella operates at the intersection of technology and trust, targeting a segment long overlooked by mainstream banks: the stokvel economy. This grassroots network of savings groups estimated by the National Stokvel Association of South Africa (NASASA) to control over R80 billion (US $4.2 billion) in member savings, has long served as a community safety net. StokFella’s platform aims to modernise this ecosystem by giving groups digital tools for record-keeping, transparency, and growth.
“As we celebrate this milestone, our mission remains clear,” Maake added. “To help existing stokvels grow, and to guide new ones in the making through technology, community, and the power of financial collaboration.”
The startup’s timing could not be more relevant. Across Africa, fintech remains the continent’s fastest-growing startup sector, accounting for nearly 45 per cent of total venture funding in 2024, according to Partech Africa’s annual report. Yet, while neobanks and mobile-money platforms have captured much of the investor spotlight, community-driven financial systems such as stokvels or tontines in West and Central Africa continue to underpin local economies, especially in low-income and rural areas.
By leveraging technology to digitise this informal sector, StokFella is bridging the gap between tradition and innovation, offering millions of Africans access to digital wallets, financial literacy tools and transparent management systems. Its approach also reflects a growing shift in African entrepreneurship: startups building for context, not just for code solving real-world problems grounded in local culture.
The company’s success echoes a broader continental trend. From eFama’s AI-driven farmer marketplace in South Africa to MARMAR’s medical-records innovation in Nigeria, African founders are increasingly harnessing open-source tech and community-based models to scale impact. Together, they represent an emerging generation of entrepreneurs who see technology not as an export from Silicon Valley, but as a home-grown catalyst for economic transformation.
StokFella’s story also speaks to Africa’s demographic and financial realities. Nearly 350 million adults on the continent remain unbanked, yet they manage collective wealth through informal savings mechanisms. Analysts estimate Africa’s broader community finance market at US $64 billion, a figure StokFella frequently cites to underline its market potential. By digitising these informal networks, the company positions itself at the forefront of a fintech revolution that is as social as it is financial.
Beyond technology, StokFella’s value lies in its narrative one that celebrates collaboration as a tool for progress.
“Together, we are shaping a future powered by collaboration and built on the legacy of those who came before us,” Maake said.
That legacy, he argues, is the foundation of Africa’s next financial leap using collective intelligence to achieve individual freedom.
As global investors deepen their interest in inclusive finance and impact-driven business models, startups like StokFella remind the world that innovation need not abandon tradition. In fact, in Africa’s case, it thrives because of it.
