Squirrel Away launches micro-investment platform for children in South Africa

South African financial technology startup introduces micro-investment platform allowing families to build children's wealth through ETFs, targeting country's significant unbanked population with community-focused gifting approach.

Johannesburg-based fintech Squirrel Away has launched a platform that enables micro-investments in exchange-traded funds (ETFs) on behalf of children, with minimum contributions starting at ZAR10 (approximately US$0.55). The platform offers a digital alternative to traditional gift-giving by facilitating long-term financial contributions.

Founded by Sibongile Maputla and launched in May 2024, the service targets families looking for accessible entry points into investment. The software-as-a-service model supports recurring contributions from parents, relatives, and other community members to build a child’s investment portfolio over time.

According to the company, around 60% of current users are extended family members, reflecting cultural practices around shared financial responsibility. The platform’s technical infrastructure allows for collective contributions toward individual accounts.

World Bank data shows that over 20% of South Africans remain outside the formal banking system. Squirrel Away is positioned to serve this segment by offering an alternative to conventional financial products.

The company has published financial modeling indicating that monthly contributions of ZAR100 (around US$5.50) into ETFs, assuming an 8% annual return, could grow to over ZAR40,000 (roughly US$2,200) by the time a child turns 18.

Squirrel Away is currently self-funded and is seeking seed-stage investment to expand its technological capabilities and increase its market presence across South Africa.

The company’s approach aligns with broader trends in African fintech, where startups are designing tools tailored to local financial behavior and infrastructure.