Tunisia’s FinTech Scene Gains Momentum with Emerging Start-Ups

Introduction

Tunisia has emerged as one of the smaller but increasingly interesting FinTech hubs in Africa. The country has been making strides to develop its financial technology ecosystem, with initiatives such as a regulatory sandbox launched by the Central Bank of Tunisia (CBT) in 2020. This move enabled FinTech start-ups to test their solutions in a controlled environment.

Growing Number of FinTech Start-Ups

According to Traxn, there are currently 28 FinTech start-ups in Tunisia as of October 2022. Here’s an overview of four emerging FinTech companies in the country:

Emerging FinTech Companies

1. Bitaka Tunisie

• Founded: 1999
• Description: Bitaka provides mobile banking solutions including mobile transfer, m-wallet, and mobile proximity payments among others.

2. Kaoun

• Description: This software company offers Flouci, a payment solution that includes eKYC, mobile payments, and credit solutions built with distributed ledger technology.
• Features:
  • eKYC (Electronic Know Your Customer) for secure customer onboarding
  • Mobile payments for easy transactions
  • Credit solutions for businesses to access financing

3. Axe Finance

• Founded: 2004
• Description: Axe Finance is a Credit Process automation and Risk Management firm. Its solutions help manage the credit life cycle and optimize firm-wide credit and risk processes.

4. Catrim Tech

• Description: This company provides front and back-office management solutions for the investment banking industry.
• Features:
  • Real-time market data for informed decision-making
  • Portfolio management to optimize investment performance
  • Risk management to mitigate potential losses
  • Automated reporting for efficient client communication

Conclusion

These emerging FinTechs are gaining traction in Tunisia’s growing financial technology ecosystem. As more initiatives and support are put in place, the country is likely to become a significant player in Africa’s FinTech scene.