Loop App is innovating mobility and fintech in South Africa

本站添加: 2026-05-06

[00:00:00]This fintech and mobility startup is helping commuters book shuttles faster than you can send a text. We are ranking the startups in the Google for startups accelerator Africa program and the next startup is Loop. Loop is a fintech and mobility startup in South Africa founded by Imtiaz and Jamie. They built almost the infrastructure that will support minibus taxis or public transportation in South Africa. About 80% or let me say 15 million South Africans actually use minibus taxis. They travel to work, going on vacations, and just traveling with it. Unfortunately, the minibus taxi industry has been around for quite some time and it hasn't had any revolutionary tech integration, which is something that is very very sad. Now, if you think about some of the use cases of Loop, the ride sharing, you will think of going on vacation, some people going to work.

[00:00:56]Now, even for business owners who actually >> [music] >> are part of the Loop network is that instead of just carrying cash around the whole day, what you do instead, you have a POS system where you can actually tap on it and people can pay you. Now, that money goes directly to your bank and you cut out the process and the danger of carrying cash around in these informal places. The best use case for Loop is actually their WhatsApp integration, which allows you to make payments through their WhatsApp. They actually allow you to add your credit card and buy some Loop tokens, meaning that now you have a wallet residing within your WhatsApp. You can use it to make payments to your driver, you can make payments to other vendors that are in the Loop network. You see, that's the type of innovation that actually takes into context Africa. A lot of people already use WhatsApp, they understand WhatsApp the platform, but now using it for payments is just the upgrade to that. I think that's very cool. As a ranking on the list, I would rank Loop as tier startup.