Kasi Money
Category: FinTech
Prize Awarded: R750,000
Company Overview
Kasi Money is a financial technology platform based in Cape Town, Western Cape, founded in 2023. It operates within the financial services industry and aims to provide banking solutions to Africa’s dynamic workforce.
What the company does: Kasi Money provides fully mobile and digital banking, payment services, and tailored financial tools. The platform allows users to receive and send electronic fund transfers (EFTs), make payments for various services, and manage funds digitally.
Core mission and value proposition: The core mission is to provide "Banking for Africa's Hustlers & Go-Gettas". The value proposition centres on providing financial solutions specifically designed for individuals with unpredictable or fluctuating incomes.
Key problem they solve: The company addresses the significant issue of financial exclusion for informal sector workers, gig workers, freelancers, traders, tutors, and consultants who typically rely on cash or have irregular income streams that are poorly served by traditional banking systems.
Technology / Solution Description
Kasi Money is a 100% digital and mobile application. Registration and banking are completed entirely on a smartphone using a South African ID or Foreign Passport for verification. The platform issues Mastercard Debit cards (powered by Access Bank) that allow global use, tap-to-pay functionality, online transactions, and ATM withdrawals.
Unique features and differentiators: The platform features tailored financial tools including:
• Vault: A feature to create savings goals, which can be managed alone or collaboratively with friends.
• Invest: An option to auto-invest a percentage of every paycheck into an Allan Gray money market fund to earn interest.
• Loans & Cash Advances: Credit access designed specifically for fluctuating incomes.
• International Money Transfer (Cross Border Payments).
• 24/7 Support: Accessible via WhatsApp with an estimated response time of 1 minute and 16 seconds.
Impact and Market Relevance
Who benefits from the solution: Informal sector workers, gig economy earners, freelancers, and small entrepreneurs.
Social, economic, or environmental impact Kasi Money advances financial inclusion for millions of underserved South Africans. By integrating individuals with irregular or cash-based incomes into the formal economy, the solution helps to bring dignity and stability to their finances. This aligns with national priorities for inclusive digital innovation and socio-economic development.
Achievements & Milestones
• SA Tech Challenge 2025: Winner, 2nd Place (R750,000 prize).