Mama Money
Mama Money is a Cape Town-based, SARB-licensed fintech that provides a mobile-first international remittance platform, enabling migrants and foreign nationals in South Africa to send money to over 70 countries via app, WhatsApp, USSD, or retail partner cash deposits.
- Company typePrivate
- Founded2013
- HeadquartersCape Town, South Africa
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Mama Money does
Mama Money (Pty) Ltd is a South African fintech founded in 2013 and headquartered in Cape Town, regulated by the South African Reserve Bank as a Category 4 Authorized Dealer in Foreign Exchange and certified to ISO 9001. The company operates a mobile-first international money transfer platform that enables users in South Africa to send money to more than 70 countries across Africa, Asia and Europe via a single app, with delivery options spanning mobile wallets, bank accounts and cash pickup. Its underlying technology includes a token-based payout system (notably a 16,000+ partner network in Zimbabwe, with 99% of transfers processed within a minute), multi-corridor integrations with mobile money operators (EcoCash, MTN, Airtel, bKash, M-Pesa) and major destination banks, and a USDC-backed "Save in USD" feature for Rand volatility hedging.
The company's product surface has expanded from a single transfer app into a broader foreign-national financial platform, encompassing the Main Wallet, the Mama Money Card (a debit card and account with free cash loads at Pick n Pay), the Save in USD product, and a WhatsApp-based send-money flow. Distribution is omnichannel: self-serve mobile app, WhatsApp, USSD for non-smartphone users, and a nationwide retail cash-in network spanning Pick n Pay, Shoprite, Spar, Makro and Game stores.
Mama Money monetizes exclusively through transaction fees on international money transfers — typically 5% or less of the principal, with transparent upfront pricing and an additional up to 2.5% for cash deposits at banks. Its go-to-market is product-led and direct-to-consumer, targeting migrants and foreign nationals in South Africa who are often unbanked or underbanked. A secondary B2B use case targets South African employers seeking compliant ways to pay foreign-national workforces. Revenue figures, funding history and headcount details beyond a 51-100 employee range are not disclosed in the available source material.
Mama Money firmographics
Firmographics- Name
- Mama Money
- Legal name
- Mama Money (Pty) Ltd
- Website
- https://mamamoney.co.za
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Mama Money is a Cape Town-based, SARB-licensed fintech that provides a mobile-first international remittance platform, enabling migrants and foreign nationals in South Africa to send money to over 70 countries via app, WhatsApp, USSD, or retail partner cash deposits.
- Ownership category
- akta.pro rank
Mama Money industry classification
Industry- Product category
- Cross-Border Money Transfer & Remittance Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)
- akta.pro secondary industries
- BaaS Platforms & Sponsor Bank Enablement (FSAGALAA), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)
Keywords
Where Mama Money is headquartered
LocationHeadquarters
- HQ city
- Cape Town
- HQ country
- South Africa
- HQ region
- Africa
Offices1 record
Markets served
Mama Money business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- International Money Transfers: Transaction fees charged on international money transfers. Fees are calculated as a percentage of the transfer amount, typically 5% or less, with transparent pricing shown upfront before confirmation. Additional fees apply for cash deposits at banks (up to 2.5%).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Transfer Fee: 5% or less |
| Freemium | Pay-as-you-go | Save in USD Feature: Free |
| Transaction based/ take rate | Pay-as-you-go | Bangladesh Transfers |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Mama Money product offering
Product offeringCore offering
Mama Money is a South African fintech that provides low-cost international money transfer services, allowing customers to send money from South Africa to over 70 countries. Operating as a SARB Category 4 Authorized Dealer, the company offers a mobile-first platform with multiple access channels including a mobile app, WhatsApp, and USSD, complemented by a Mama Card prepaid debit product and a USD-denominated savings wallet.
Product overview
Mama Money is a single unified mobile application offering international money transfer services from South Africa to over 70 countries. The core product enables users to send money internationally via mobile wallet, bank transfer, or cash payout methods. The platform includes a digital Main Wallet for storing and managing funds, a Mama Money Card for physical spending and cash access, and a Save in USD feature for protecting money from Rand volatility. Users can also send money via WhatsApp as an alternative to the app. All services are accessible through a single mobile app with tiered KYC verification levels determining transaction limits.
Differentiator
Problem solved
Functional benefit
Brands
- Mama Card: A secure, low-cost card and account designed for foreign nationals in South Africa, allowing users to manage money, buy goods and services, and do FREE cash loads at Pick n Pay.
- Mama Wallet
- Save in USD
Products and services
- International Money Transfer Service Core service enabling customers in South Africa to send money internationally to recipients in over 70 countries. Operates as a SARB Category 4 Authorized Dealer for cross-border foreign exchange and remittance.
- Mama Money Card Prepaid debit card and account for foreign nationals in South Africa, providing a banking-style wallet and card functionality linked to the Mama Money platform.
- Save in USD A USD-denominated savings wallet that allows customers to hold funds in US dollars within the Mama Money platform, providing a hedge against local currency volatility.
Quantifiable outcome
- 99% of Zimbabwe transactions processed within a minute
- +2 more outcomes
Companies that use Mama Money
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles1 record
Mama Money technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration19 records
Feature3 records
Mama Money partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- Pick n PaycoreRetail partner for cash deposits and loads. Users can load cash for free at any Pick n Pay store nationwide to fund their Mama Money wallet or card. Key distribution channel for cash-dependent customers.
- Shoprite, Spar, Makro, Game, Flash StorescoreAdditional retail partner network for cash deposits and payments. Provides nationwide physical presence for customers who prefer paying with cash or loading funds to their accounts.
- Zimbabwe Payout Network PartnerscoreExtensive network of 16,000+ payout locations in Zimbabwe including Ecocash (mobile wallet), Stewardbank, BancABC, POSB, CABS, NMB, NBS, Zimpost, OK, Spar, Chicken Inn, and other banks and stores. Enables token-based cash collection at any partner location.
- MTN, Airtel, Stanbic Bank, Centenary Bank, Equity Bank, UBA (Uganda)coreMobile money and banking partners in Uganda enabling instant transfers to MTN and Airtel mobile wallets as well as major bank accounts.
- bKash, Krishi Bank, Agrani PLC, Dutch Bangla Bank, Bank Asia, BRAC Bank, Sonali Bank (Bangladesh)corePartner network in Bangladesh for transfers to bKash mobile wallets and major bank accounts including state-owned and private banks.
- MTN, Airtel, Tigo, GCB Bank, Ecobank (Ghana)coreMobile money (MTN, Airtel, Tigo) and banking partners (GCB Bank, Ecobank) in Ghana for wallet and bank account transfers.
- Major Thai Banks (Thailand)corePartnership with major Thai banks including Bangkok Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, CIMB Thai, Ayudhya Bank, Citi Bank, Government Saving Bank, Kiatnakin Bank for direct bank transfers to Thailand.
- Afrimoney (Angola)coreMobile wallet partner in Angola for wallet-based transfers to all major banks and Afrimoney e-wallet.
- Bank ZerocoreBanking partnership announced in April 2026 to bring higher limits, EFT out to any South African bank, and enhanced banking services for foreign nationals.
- InnBucks/EcoCash Agents (Zimbabwe)minorExtended payout network for Zimbabwe enabling cash collection at EcoCash agents, particularly useful when banks are closed with longer operating hours.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Mama Money competitors and assessment
Company assessmentDirect peers
- Mukuru: Leading South African cross-border remittance operator serving migrants sending money across Africa and beyond from South Africa. Directly competes with Mama Money on the same sender geography, corridors, and unbanked migrant customer segment with overlapping mobile wallet and cash pickup options.
- Hello Paisa: South African-licensed remittance fintech focused on migrants sending money from South Africa to multiple African and Asian corridors. Competes head-to-head with Mama Money on corridors, SARB licensing, mobile-first delivery, and the foreign national customer segment.
- Sendwave: App-based remittance service focused on Africa-to-Africa and African diaspora corridors with mobile wallet payouts. Directly competes with Mama Money on Zimbabwe, Uganda, Ghana, and other African routes with a similar low-fee, mobile-first value proposition.
Broad incumbents
- WorldRemit: Global digital remittance platform serving senders from many countries into 130+ destinations, including South Africa. Directly overlaps with Mama Money on multiple corridors (Zimbabwe, Bangladesh, Nigeria, Ghana, India) and on mobile wallet and bank payout rails.
- Remitly: US-listed digital remittance leader serving migrants globally with a strong mobile-first product. Overlaps with Mama Money on Africa and Asia corridors from a digital-only, low-fee positioning, and sets competitive pricing benchmarks on shared routes.
- Western Union: Global incumbent in cross-border money transfer with the largest agent network worldwide. Competes with Mama Money across most of its 70+ corridors, including high-volume routes from South Africa to Zimbabwe and South Asia, on both cash pickup and bank/wallet payouts.
- MoneyGram: Global remittance incumbent with extensive agent network across Africa and Asia. Competes with Mama Money on many shared corridors and on cash pickup, bank deposit, and mobile wallet payout options from South Africa.
Emerging players
- NALA (formerly Beam Wallet): Mobile remittance and payments app focused on African corridors, including senders in the UK and US into East Africa. Increasingly relevant peer on the digital, low-fee Africa-focused remittance model that Mama Money also pursues from South Africa.
Regional players
- TymeBank: South African digital bank serving mass-market and underbanked customers, including migrants and foreign nationals, with low-cost accounts and card products. Increasingly competes with Mama Card/Mama Wallet on banking services for the same underserved SA segment.
Others
- Bank Zero: South African digital-only bank partnered with Mama Money (announced April 2026) to deliver higher transaction limits, EFT out, and enhanced banking features for foreign nationals. Functions as both a partner and a potential adjacent competitor as embedded banking capabilities expand.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Mama Money social profiles
Digital presenceMama Money compliance and trust
Trust signalCompliance1 record
Mama Money financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mama Money leadership team
Management profileNumber of profiles
Profiles4 records
Mama Money funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mama Money M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mama Money
What does Mama Money do?
Mama Money is a South African fintech that provides low-cost international money transfer services, allowing customers to send money from South Africa to over 70 countries. Operating as a SARB Category 4 Authorized Dealer, the company offers a mobile-first platform with multiple access channels including a mobile app, WhatsApp, and USSD, complemented by a Mama Card prepaid debit product and a USD-denominated savings wallet.
Is Mama Money a public or private company?
Mama Money is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Mama Money founded?
Mama Money was founded in 2013. It employs 51 to 100 people.
Where is Mama Money based?
Mama Money is headquartered in Cape Town, South Africa, in the Africa region.
How does Mama Money make money?
One revenue line is on record: international Money Transfers.
Who are Mama Money's main competitors?
Direct peers on record are Mukuru, Hello Paisa and Sendwave. Broad incumbents are WorldRemit, Remitly, Western Union and MoneyGram. NALA (formerly Beam Wallet) is listed as an emerging player. TymeBank is listed as a regional player. Bank Zero is listed as an others.
Does Mama Money have an API?
No public API is recorded for Mama Money.
What industry is Mama Money in?
Mama Money's product category is Cross-Border Money Transfer & Remittance Services. Its primary akta.pro industry code is FSAGALAE, Embedded Deposit Accounts & Digital Wallet Infrastructure, with a secondary code of FSAGALAA, BaaS Platforms & Sponsor Bank Enablement. Its NAICS code is 522320 and its SIC code is 6199.