Street Wallet expands reach with acquisition of tipping startup Digitip

The deal boosts Street Wallet’s presence in KwaZulu-Natal and enhances its mission to bring informal workers and traders into the digital economy.

South African mobile payments company Street Wallet has acquired Digitip, a startup that allows informal workers to receive digital tips. The move expands Street Wallet’s footprint in KwaZulu-Natal and marks another step in its plan to widen financial inclusion for underserved workers and traders.

Founded in 2021 by Kosta Scholiadis, Street Wallet provides a cashless payment platform designed specifically for informal traders and service providers. The system integrates with major payment gateways such as Apple Pay, Samsung Pay, SnapScan, Zapper, and Scan-to-Pay, enabling quick and secure transactions without requiring bank accounts or hardware. Vendors are notified via SMS and receive their earnings as Standard Bank Instant Money Vouchers the following morning, withdrawable at ATMs or partner retailers.

The acquisition follows Street Wallet’s US$350,000 funding round last month, aimed at driving market expansion and accelerating adoption across South Africa. Digitip, launched in 2023, now becomes part of this growth strategy.

For Digitip’s existing users and merchants, the integration promises lower fees, faster payouts, and access to Street Wallet’s advanced technology stack. “This is a game-changer for our community,” said Monica Nilsen, founder of Digitip. “With Street Wallet’s infrastructure, payouts are smoother, faster, and more rewarding.”

Street Wallet’s COO and CFO, Stephen Britto, emphasized the broader impact: “Consolidating Digitip helps us lower barriers for informal traders. Our aim is to design fee structures and solutions that make it easier for them to transact and integrate into the banking ecosystem.”