South African fintech startup Street Wallet has acquired Digitip, a platform that allows informal workers to receive digital tips, in a deal aimed at deepening its presence in KwaZulu-Natal and broadening access to the digital economy.
Founded in 2021 by Kosta Scholiadis, Street Wallet provides mobile payment solutions tailored for informal traders and service providers. The platform integrates with leading gateways such as Apple Pay, Samsung Pay, SnapScan, Zapper, and Scan-To-Pay, enabling vendors to accept secure, cashless payments without traditional bank accounts or hardware. Daily earnings are converted into Standard Bank Instant Money Vouchers, which can be withdrawn at ATMs or partner retailers.
The acquisition follows Street Wallet’s recent $350,000 funding round, which is fueling market expansion and sales growth across South Africa. Incorporating Digitip, launched in 2023, will extend Street Wallet’s reach among informal workers and strengthen its value proposition with lower transaction costs, faster payouts, and enhanced technology infrastructure.
“This is a game-changer for Digitip users and clients,” said Digitip founder Monica Nilsen. “Our community can now earn more through lower fees, enjoy daily payouts, and benefit from a smoother platform.”
Street Wallet CFO and COO Stephen Britto said the move underscores the company’s broader goal of driving financial inclusion. “We want to make transacting easier while bringing traders into the banking ecosystem through bespoke fee structures,” he said.