5th December 2023 1:32 pm
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Meet the 10 fintechs participating in the AlphaCode Incubate programme

Despite January feeling more like 2020 Round Two, we’re hopeful that a new month helps us make the switch to 2021, mentally speaking.

As such we’re searching for any semblance of normality and thankfully there is one – the AlphaCode Incubate programme.

Each year the incubator brings in a number of fintech startups to participate in a 12-week long pre-incubation programme valued at R500 000. This programme also includes R150 000 grant funding for each participant.

This year’s programme has just started.

“We are delighted by the quality of the applications for our programme. We have selected a diverse cohort (good mix of gender, age and race) and we look forward to supporting these disruptive, early-stage businesses with pioneering ideas so that they can make a meaningful impact in the financial services industry,” said head of ecosystem development at AlphaCode, Andile Maseko in a media statement.

The fintechs selected for this year’s 12-week programme follow on below.


An out-of-the-box employee perks and benefits platform. It gives employers a simple and cost-effective solution to offer employee benefits without the cost and administrative burden. Employees are empowered to self-manage their benefits and perks which gives them freedom of choice over their remuneration structure and take-home pay.

Co-founders: Claudia Snyman, Dennis Williams, Bryn Divey and Ross Horak.

Website: mybento.net


Buy and deliver goods from any local store in your area within two hours. Mapha’s service delivers any retail item and affords the option of buying from multiple stores in one trip. In addition, daily courier services are offered. Mapha creates payment solutions for small businesses that would like to integrate delivery services. The business has expanded into Tembisa and Alexandra to penetrate the township economy, which hasn’t had on-demand delivery services.

Co-founders: Loyiso Vatsha, Tshidiso Vatsha, Noble Nyoni and Lesego Mokou.

Website: maphalogistics.co.za


A digital banking platform for gig workers who are largely overlooked by traditional financial institutions. It offers a prepaid debit card and mobile app that helps these workers get paid, save, and borrow. OysterPay’s data science approach builds highly personalised offerings, particularly in savings and digital lending, that promotes financial security and inclusion for all gig workers.

Co-founders: Scelo Makhathini and Atif Muhammad.

Website: oysterpay.co.za


An easy way to invest in Bitcoin and cryptocurrencies. With lightning-fast purchases and a simple user interface, Melon makes buying Bitcoin as effortless as shopping online. In just a few clicks, customers will be able to add an investment amount to their cart, pay using card or instant EFT, and access savings products in one convenient location. No waiting for deposits, and no complicated trading interface.

Co-founders: Kreaan Singh and Alex Coetzee.

Website: getmelon.io


An online marketplace that links smallholding farmers and buyers to a fair and reliable market. It offers farmers access to finance, reliable information on improving their production and it works with both formal and informal markets. Street vendors can get fresh produce delivered, saving them transportation costs.

Founder: Zamokuhle Thwala.

Website: agrikool.com

Imfuyo Technologies

This startup is developing a smart farming solution that will give livestock farmers better oversight of their operations at viable cost points. The initial offering will consist of a smart tracker that will collect critical data about cattle location and behaviour. The data is analysed to enable farmers to optimise farming activities. The platform will also serve as a de facto cattle deeds office, providing better traceability across the beef production value chain. Through Imfuyo Technologies, livestock farmers also have better access to financial markets.

Founder: Allasandro Da Gama

Website: Not available


MatchKit.co helps athletes better commercialise their careers. The platform helps athletes make money, regardless of the status of sporting events. It integrates into existing social media channels and stats to showcase the value of an athlete’s digital audience to potential sponsors. It also offers a plug and play e-commerce store where fans can purchase everything from bespoke branded merchandise to personalised video and audio shout-outs. MatchKit.co plans to add insurtech and transactional / virtual card capabilities to the offering.

Founders: Mike Sharman, Shaka Sisulu, Bryan Habana and Ben Karpinski.

Website: matchkit.co


A billing and revenue management tool, ideal for providers of usage-based products and services. Varibill provides specialised software plug-ins, called source collectors, that interrogate various disparate sources or devices and then translates the usage data into billing data. It connects the sources of usage with a company’s existing accounting system. Varibill is a business model enabler for businesses that recurring, variable billing needs with benefits including accurate timely invoices; improved profitability; and reduction in revenue leakage.

Founder: Leon Kelder.

Website: varibill.com

Chama Money

This fintech enables stokvels to operate online in an easy, safe and transparent way whilst giving them access to retail, insurance, and financial products from trusted providers. The platform has automated processes like bookkeeping, accounting and payments.

Co-founder: Palesa Lengolo.

Website: chama.money


DentX is a machine learning platform for vehicle damage repair pricing that empowers vehicle or fleet owners with data for competitive quotations. The DentX machine learning platform connects real-time aggregation of approved service providers with machine learning to give more accurate estimations per line item. This offers the consumer cost control, repair service quality assessments, immutable damage records, and no room for monopolies or collusion.

Co-founders: Jonathan Kojo Asiamah and Nolo Mokoena.

Website: dentx.co.za

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