Venture capital firm Endeavor South Africa says five local companies show that innovation-led growth can be environment-agnostic for businesses with strong execution capability, scalable technology and clear market relevance, even in difficult economic conditions.

The five firms are financial services firm GoTymeBank, digital payments company Onafriq, digital workplace platform Go1, cross-border remittance company Hello Paisa and insurance technology company Pineapple.

They are classified as Endeavor Outliers, which are the top 10% of companies across Endeavor’s global network, and are growing at more than 40 times the rate of South Africa's 1% economic growth a year, Endeavor South Africa says.

Collectively, these five companies generated about R11-billion in net revenue in 2025, served more than 25-million customers directly, reached more than one-billion users across more than 100 countries and have raised hundreds of millions of dollars in growth capital in recent years.

These companies highlight the type of business models capable of delivering meaningful growth and employment in South Africa, says Endeavor South Africa MD Alison Collier.

“These businesses share several common characteristics, including being founder-led, technology-enabled, capital-efficient, globally ambitious from inception and focused on solving large, practical mass market problems.

“They are building products and services that improve affordability and the cost to serve customers at scale, accessibility and efficiency for millions of people, particularly in sectors where traditional infrastructure has historically struggled to meet demand efficiently,” she says.

South Africa needs more businesses capable of scaling in this way, if the country wants to accelerate economic growth and employment.

“These companies show what is possible. They are creating high-quality jobs, attracting international investment, building globally relevant technology, and expanding Africa’s participation in the global innovation economy,” she says.

Meanwhile, South Africa accounts for 46% of Africa’s Endeavor Outliers, which reflects the country’s continued ability to produce globally competitive founders and scale-up businesses.

The strong local performance also aligns with broader venture capital trends, with South Africa identified as one of the continent’s most active and resilient venture ecosystems.

South African venture funding increased by 21% year-on-year in 2025 to about $715-million in equity and debt funding.

South Africa led the equity market in 2025, and ranked first by equity funding volume, which increased by 40% year-on-year. It also regained the top position in equity deal count, which increased by 5% year-on-year.

This achievement, which was the first year since 2017 that it achieved the result, highlights the depth and maturity in its ecosystem, Endeavor South Africa says.

“South Africa has exceptional entrepreneurial talent. The opportunity now is to ensure that high-growth businesses can scale faster and more sustainably. The more we enable these companies to thrive, the greater the impact on growth, competitiveness, investment and jobs,” says Collier.

Enabling these companies requires a stronger enabling environment for entrepreneurship and innovation, including improved digital and logistics infrastructure, easier access to growth capital, regulatory certainty, skills development and greater support for businesses expanding into regional and global markets, she says.

Further, Endeavor South Africa’s own portfolio data further demonstrates the broader economic contribution of scale-up businesses.

Between 2021 and 2025, 27 Endeavor-supported entrepreneurs achieved average yearly revenue growth of 29% and generated an additional R12-billion in revenue.

The entrepreneurs also created 5 156 new jobs, of which 75% were filled by black South Africans, 80% by young people and 55% by women.