Mama Money

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.

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

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

• International money transfers
• Cross-border remittances
• Mobile money transfer
• Foreign currency savings
• Prepaid debit cards

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, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. 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

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core 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

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Pick n PaycoreChannel Partner/ Reseller/ DistributorRetail 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 StorescoreChannel Partner/ Reseller/ DistributorAdditional 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 PartnerscoreTechnology or IntegrationExtensive 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)coreTechnology or IntegrationMobile 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)coreTechnology or IntegrationPartner 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)coreTechnology or IntegrationMobile money (MTN, Airtel, Tigo) and banking partners (GCB Bank, Ecobank) in Ghana for wallet and bank account transfers.
• Major Thai Banks (Thailand)coreTechnology or IntegrationPartnership 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)coreTechnology or IntegrationMobile wallet partner in Angola for wallet-based transfers to all major banks and Afrimoney e-wallet.
• Bank ZerocoreTechnology or IntegrationBanking 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)minorChannel Partner/ Reseller/ DistributorExtended 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

Direct 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

• Xx.com/mamasstories
• Facebookfacebook.com/mamamoneytransfer
• LinkedInlinkedin.com/company/mamamoney
• Instagraminstagram.com/mamamoneytransfer

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Mama Money