Spoon Money
Curated by SignalGroup savings platform empowering female street vendors in South Africa.
Overview
Spoon Money operates a platform focused on group savings, primarily aimed at female street vendors in South Africa. The platform employs a stokvel-based system, enabling members to form groups, contribute monthly, and save collectively for various financial objectives. This model is intended to improve access to financial services and promote community support among informal traders. Spoon Money also facilitates investments through established asset managers, allowing members to engage with capital markets. Furthermore, the platform offers options for members to withdraw savings and access group credit for stock purchases. The stated mission of Spoon Money is to empower female entrepreneurs and support informal traders in overcoming challenges related to financial resource access.
Key facts
- Founded
- 2017
- Headquarters
- Cape Town, South Africa
- Stage
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- Industry
- Financial Technology
Business model
- GTM channel
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- 3 products and services
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- Commercial model
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Contact
- Primary office
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- Phone
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