What Kastelo does

Kastelo is a Cape Town-based South African fintech super-app that consolidates a digital wallet, a mobile virtual network operator (MVNO) service, tokenised US securities trading, tax-free savings, and cross-border remittances into one mobile application. Founded in 2018 and formally incorporated in 2020, the company operates through three ringfenced entities — Kastelo (Pty) Ltd as an FSCA-licensed Financial Services Provider (FSP #51074), Kastelo Mobile (Pty) Ltd as an Electronic Communications Service Licensee, and Kastelo Africa (Pty) Ltd as a SARB Category 3 Authorised Dealer in Foreign Exchange (ADLA) for remittances traded under the brand Tjinga. The technical architecture combines MTN's wholesale cellular network for the GIGS MVNO, blockchain rails for tokenised equity and gold products, Sygnia's fund infrastructure for the Tax-Free Savings Account (TFSA), Zapper's QR-payment network for merchant acceptance, and a Mastercard debit card for global spend, all fronted by an Android/iOS app and WhatsApp-assisted onboarding.

The revenue model spans usage-based MVNO sales (R30/GB data, 60c/minute voice), a flat 1% transaction fee on tokenised US stock trades, asset-based recurring fees on the TFSA (0.5% initial plus 0.5% annual, with Sygnia's 0.35% admin and up to 0.59% fund management layered on), transaction-based wallet services (cash vouchers, QR payments, currency exchange, card spend), and margins on cross-border remittances via Tjinga. Distribution runs entirely through digital self-serve channels — Google Play and App Store downloads, web signup, WhatsApp RICA and support — supplemented by free physical SIM pickup via Pargo's network of 200+ points inside Clicks stores. The target customer is the everyday South African consumer, with explicit prioritisation of five personas: mass-market consumers seeking fee-light money tools, digitally savvy parents managing up to 29 family SIMs with per-SIM controls, cost-conscious mobile users escaping data-expiry pricing, small business owners consolidating team connectivity, and tax-conscious savers. Regulatory compliance covers FAIS, FICA, POPIA, and CASP registration, positioning Kastelo as a multi-licence consumer platform rather than a single-product fintech.

Name

Kastelo

Legal name

Kastelo (Proprietary) Limited

Website

https://kastelo.co.za

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Kastelo is a Cape Town-based South African fintech super-app that combines a digital wallet, an MTN-powered mobile virtual network operator (GIGS), tokenised US stock trading, tax-free savings, and SARB-licensed cross-border remittance (Tjinga) into one mobile platform serving everyday South African consumers.

Ownership category

akta.pro rank

Product category

Mobile Financial Services

NAICS

Telecommunications Resellers (517121), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Portfolio Management and Investment Advice (523940)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Super-App Wallets & Mini-Program Payments (FSAMAEAE)

akta.pro secondary industries

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), POS, QR & In-Person Acceptance Infrastructure (Crypto) (FSADAIAI), Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)

Keywords

• Mobile virtual network operator
• Digital wallet services
• Tokenised stock investing
• Tax-free savings accounts
• Cross-border remittance

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Mobile Data and Airtime Sales: Kastelo GIGS generates revenue from the sale of mobile data (R30 per GB) and voice minutes (60c per minute). As an MVNO using MTN infrastructure, Kastelo purchases bulk airtime and data from MTN and retails to consumers at transparent, fixed rates. The company also earns from additional SIM/eSIM sales (R69 once-off per SIM).
2. Tokenised Stock Trading Fees: Kastelo charges a flat 1% fee on the value of every stock transaction (both buy and sell) for tokenised US stocks. This is the primary transaction-based revenue stream from the Kastelo Stocks product.
3. Tax-Free Savings Account (TFSA) Management Fees: Kastelo charges an initial fee of 0.5% (excl. VAT) and an annual fee of 0.5% (excl. VAT) on TFSA balances managed in partnership with Sygnia. Combined with Sygnia's admin fee (0.35% excl. VAT) and fund management fee (up to 0.59% depending on fund), Kastelo earns a recurring percentage of assets under management.
4. Kastelo Wallet and Card Services: The Kastelo Wallet is free to open with a minimum funding of R10. Revenue is generated from transaction activities within the wallet including QR code payments at Zapper merchants, cash voucher withdrawals at retail points, and currency exchanges. While most core services carry no monthly fees, standard transaction costs apply for certain features.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Kastelo operates an integrated South African fintech super-app that combines a mobile virtual network operator (MVNO) service called GIGS with a licensed digital wallet, tokenised US stock and gold investing, tax-free savings, peer-to-peer payments, and SARB-authorised cross-border remittances. The platform consolidates mobile connectivity, payments, savings, and investment products within a single FSCA-licensed mobile application, targeting everyday South African consumers seeking accessible, transparent, fee-light money and connectivity management.

Product overview

Kastelo is a South African fintech super-app operating as a mobile virtual network operator (MVNO), offering a unified platform of financial and connectivity services. The core offering consists of the Kastelo Wallet — a single, FSCA-licensed digital wallet — which serves as the central hub connecting distinct product lines: Kastelo GIGS (mobile data/airtime on MTN's network with never-expiring data, rewards, and multi-SIM family management), Kastelo Pay (instant P2P transfers, QR payments via Zapper, and cash vouchers), Kastelo Stocks (tokenised US equities via blockchain), Tokenised Gold (physical gold tokens on blockchain), a Tax-Free Savings Account (powered by Sygnia with multiple fund options), Algorithmic Trading (automated digital currency strategies), Kastelo Card (global Mastercard debit), and Tjinga (SARB-authorised cross-border remittances). The platform targets everyday South Africans seeking accessible, transparent, and fee-light money and connectivity management.

Differentiator

Problem solved

Functional benefit

Brands

• Kastelo Wallet: Digital wallet for managing, earning, investing, spending, and sending money with no monthly fees.
• Kastelo GIGS
• Kastelo Pay
• Kastelo Stocks
• Tjinga

Products and services

• Kastelo Wallet The central digital wallet of the Kastelo platform, serving as a single FSCA-licensed hub for managing, earning, spending, sending, and investing money. Users can top up GIGS data, exchange currencies, buy and sell tokenised stocks and gold, and access automated trading strategies from one app.
• Kastelo GIGS A mobile virtual network operator (MVNO) service built on MTN's infrastructure, offering data that never expires, one unified balance for data, calls, and SMS, the ability to sell unused data back for cash, and built-in rewards. Supports eSIM and physical SIM cards, dual-SIM phones, and multi-number management.
• Kastelo Pay A peer-to-peer payment and money transfer service enabling instant domestic money transfers, QR code payments at Zapper-enabled merchants (30,000+ locations), and cash voucher creation redeemable at over 300,000 retail points nationwide. Supports sending money to contacts using only a phone number.
• Kastelo Stocks A tokenised stock investing product allowing users to buy and sell digital tokens representing fractions of US company shares (including Apple, Tesla, Google, Microsoft, Amazon, Netflix, Nvidia, and others) directly from the Kastelo Wallet. Investments start from R20 with a flat 1% transaction fee.
• Tax-Free Savings Account (TFSA) A long-term savings product offered in partnership with Sygnia, enabling South African residents to grow money tax-free. Annual contribution limit of R46,000 per tax year with a R500,000 lifetime cap. Users choose from Sygnia-managed funds with a minimum R500 contribution per deposit.
• Tokenised Gold A digital gold investment product backed one-to-one by physical gold stored in audited vaults. Tokens are recorded on a blockchain, allowing users to buy and sell gold in small amounts directly within the Kastelo Wallet without physical storage requirements.
• Tjinga A cross-border remittance and payment service offered by Kastelo Africa (Proprietary) Limited, authorised by the South African Reserve Bank (SARB) to provide cross-border remittance and payment services.

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• SygniacoreStrategic or Co-development PartnerKastelo partnered with Sygnia, one of South Africa's most trusted investment managers, to offer Tax-Free Savings Accounts through the Kastelo app. Sygnia provides the investment infrastructure and fund management (offering Balanced Absolute, Balanced 60, and Balanced 70 funds), while Kastelo provides the customer interface and distribution. This is a core product partnership enabling Kastelo to offer regulated savings and investment services.
• MTNcoreTechnology or IntegrationKastelo GIGS operates as a mobile virtual network operator (MVNO) using MTN's network infrastructure. This partnership provides Kastelo with nationwide cellular coverage for data, voice, and SMS services, leveraging MTN's established network reliability and geographic reach across South Africa.
• ZappersupportingTechnology or IntegrationKastelo Pay integrates with Zapper's QR code payment network, enabling Kastelo users to scan and pay at over 30,000 Zapper-enabled merchants across South Africa including grocery stores, restaurants, petrol stations, and spaza shops. This integration expands Kastelo Pay's acceptance network without Kastelo needing to build its own merchant network.
• PargosupportingChannel Partner/ Reseller/ DistributorKastelo partners with Pargo to provide physical SIM card collection at over 200 Pargo click-and-collect points inside Clicks stores nationwide. Customers can order a Kastelo GIGS SIM online and pick it up free at their nearest Clicks store, eliminating delivery wait times and costs.
• Standard Bank, FNB, Access Bank, AbsasupportingTechnology or IntegrationKastelo lists Standard Bank, FNB (First National Bank), Access Bank, and Absa as trusted partners on its website. These relationships enable bank account linking for wallet funding and withdrawals, and these banks are referenced as part of Kastelo's trusted financial ecosystem for money transfers and account integration.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• TymeBank: South African digital bank offering a low-fee transactional account, savings, and lending via a mobile-first app. Comparable to Kastelo in targeting everyday SA consumers seeking an affordable alternative to traditional banks, with similar self-serve onboarding via app and retail pickup points (e.g., Pick n Pay, Boxer).
• EasyEquities: South African fractional share investing platform offering low-minimum access to JSE and US equities. Directly comparable to Kastelo Stocks as a low-cost, mobile-first equity investing product for SA retail investors — but offers direct share ownership with dividends, contrasting with Kastelo's tokenised (synthetic) exposure.
• Mama Money: South African cross-border remittance operator targeting migrant workers sending money to Southern Africa. Comparable to Kastelo's Tjinga (SARB ADLA-licensed) cross-border remittance service in target customer, value proposition (low-cost remittances), and South African operating environment.
• Mukuru: One of Africa's largest cross-border remittance and digital wallet operators, with strong SA presence. Comparable to Kastelo's Tjinga and Wallet offerings in serving SA-based senders with formal cross-border FX and wallet infrastructure.

Broad incumbents

• Capitec: South Africa's largest retail bank by customer count, offering low-fee transactional banking, savings, and credit via a single app. Comparable to Kastelo as a low-cost, transparent-fee consumer financial services provider targeting mass-market SA customers; broader and more capitalised than Kastelo.
• Discovery Bank: South African digital-first bank integrated with Discovery's behavioural insurance and Vitality rewards programme. Comparable to Kastelo in its app-led consumer banking model and integrated ecosystem play (wallet + rewards + investments), though at materially larger scale.
• FNB (First National Bank): One of South Africa's 'Big Four' banks with a leading digital app offering wallet, payments, savings, lending, and investments. Comparable to Kastelo in the breadth of consumer financial services available from a single interface, though at vastly larger scale and brand recognition.
• African Bank: South African retail bank offering transactional accounts, savings, and lending with a mass-market, lower-income customer focus. Comparable to Kastelo in targeting underbanked SA consumers seeking simple, low-cost financial products outside the Big Four banks.

Emerging players

• VALR: South African cryptocurrency exchange offering retail and institutional crypto trading, staking, and algorithmic trading features. Comparable to Kastelo's algorithmic crypto trading and tokenised-asset products as a regulated SA-based digital asset platform.
• Luno: South Africa-origin (Cape Town) global cryptocurrency exchange and wallet. Comparable to Kastelo as a Cape Town-headquartered, FSCA-registered crypto platform offering a consumer wallet and trading app with tokenised-style digital asset exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@KasteloCapital
• Facebookfacebook.com/KasteloCapital
• LinkedInlinkedin.com/company/kastelocapital
• Instagraminstagram.com/kastelo.official
• Xx.com/KasteloCapital

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kastelo