About Net1
Net1 is a company based in Johannesburg (South Africa) founded in 1989. Net1 has completed 4 acquisitions, including Bank Frick, Connect and KSNET Korea. Net1 operates in a competitive market with competitors including Flutterwave, Yoco, Network International, Ozow and Dlocal, among others.
- Latest Funding Round$107M (USD), Post-IPO
Apr 2016
- InvestorsGeneral Atlantic
& 1 more
- Investments & AcquisitionsBank Frick
& 3 more
Funding Insights of Net1
- Total Rounds 2
- Last Round Post-IPO — $107M
- Investors Count 2
All 2 funding rounds of Net1 with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2016 | $107M | Post-IPO | – | – | |
| Jun 2006 | – | Post-IPO | – | – |
2 investors in total: 2 institutional.
Investors in Net1
Net1 has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include General Atlantic and IFC Asset Management Company.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Capital is mobilized and invested in sustainable emerging market companies. | – | ifcamc.org | Washington, Dc, United States | |
Private equity fund focused on global markets | 1980 | generalatlantic.com | New York, United States |
Investor details for Net1
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Net1
47 people are tracked at Net1 (18 in leadership, 7 in board & advisors, 22 in team).
| Name | Role | Group |
|---|---|---|
Lizzy Mogale | Provincial Head | Leadership |
Steven J. Heilbron | CEO, Connect Group | Leadership |
Lincoln C. Mali | CEO, Southern Africa | Leadership |
Denzel Landie | Group Chief Risk Officer | Leadership |
Lynda Cooper Cm (SA) | Executive Head: Marketing | Leadership |
Amina Mnisi | Provincial Head Of Sales And Distribution | Leadership |
Vusumuzi Peter Malinga | National Head Of Sales And Service | Leadership |
Darren Haylett | Group Head Of Compliance | Leadership |
Simphiwe Phakathi | Executive Head: Sales And Distribution | Leadership |
Mohamed Ebrahim | Head Of Fraud Risk | Leadership |
Basie Kok | Group Chief Technology Officer | Leadership |
Naeem E. Kola | Group Chief Financial Officer | Leadership |
Martin Wright | CEO, Kazang & Head of VAS & Card Division | Leadership |
Seth Angel | Chief Financial Officer - Merchant Division | Leadership |
Lynda Cooper Mba | Executive Head Of Marketing: Lesaka | Consumer Division | Leadership |
Zwelethu Masinga | Head Of Business Transformation And Strategy | Leadership |
Paul Gertzen | Head Of Frontend Applications | Leadership |
Simon Hebron | CEO Easypay Insurance | Leadership |
Monde Nkosi | Independent Non-Executive Director | Board & advisors |
Kuben Pillay | Chairman | Board & advisors |
27 more people are available in the full profile.
Complete people profiles for Net1
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Investments & Acquisitions by Net1
Net1 has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Bank Frick, Connect and KSNET Korea.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Financial technology solutions are provided for retail business operations. | connected.co.za | Sandton, South Africa | 2006 | Nov 2021 | $242.49M | |
Family office based in Liechtenstein | bankfrick.li | Balzers, Liechtenstein | 1998 | Oct 2019 | $46.4M | |
Payment processing and prepaid card services are provided. | transact24.com | Hong Kong, China | 2006 | Jan 2016 | •••• | |
Offline and online payment solutions are provided by KSNET. | ksnet.co.kr | Seoul, South Korea | 2000 | Sep 2010 | $240M |
Complete acquisition details for Net1
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of Net1
7 dated milestones of Net1 across 32 years, from founding to its latest funding, stage changes and deals.
- Founded Net1 is founded.
- Funding First funding round.
- Acquisition Acquires KSNET Korea.
- Acquisition Acquires Transact24.
- Funding Latest funding round, Post-IPO, of $107.0M.
- Acquisition Acquires Bank Frick.
- Acquisition Acquires Connect.
Competitors of Net1
Net1 operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Flutterwave, Yoco, Network International, Ozow and Dlocal, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| flutterwave.com | 2016 | San Francisco, United States | $319.41M | – | Provider of payment processing solutions for businesses | |
| yoco.com | 2015 | Cape Town, South Africa | $102M | – | Payment processing solutions are offered to businesses and merchants. | |
| network.ae | 1994 | Dubai, United Arab Emirates | $539M | 1,781 | Network International is recognized as a leading digital payment provider in the Middle East and Africa. | |
| ozow.com | 2005 | Johannesburg, South Africa | $48M | – | Payment processing solutions are provided for businesses and merchants. | |
| dlocal.com | 2016 | Montevideo, Uruguay | $350M | 901 | Global payment processing is facilitated for businesses through diverse methods. | |
| aciworldwide.com | 1975 | Omaha, United States | – | 4,732 | Digital payments are processed and managed via specialized solutions. | |
| unionpayintl.com | 2012 | Shanghai, China | – | – | Mobile and online payment solutions are provided for banks. |
Detailed competitors of Net1
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
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Web traffic of Net1
Websites that share an audience with Net1 (net1.com).
Websites whose visitors overlap most with Net1. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
public.dreyfus.com | public.dreyfus.com | 100% | – | – | – |
| aciworldwide.com | 98% | 134.5K | #343,358 | View details | |
| paymentssource.com | 97% | – | – | View details | |
| thepaypers.com | 86% | – | #291,072 | View details | |
paymentsnews.com | paymentsnews.com | 75% | – | – | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 7 similar websites and full traffic analytics for Net1
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 7 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Latest news on Net1
Complete news archive for Net1
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Net1
10 companies that operate in the same segment as Net1 (Payments & Remittance Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 4.14 B | – | – | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | – | – | |
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | – | – | |
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 2,360 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 742 M | USD 302.19 M | 2,641 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 3.21 B | – | – | |
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 604.02 M | USD 179.52 M | 709 | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
Online payment processing and credit solutions are provided for businesses. | 2002 | Amsterdam, Netherlands | USD 35.15 M | USD 5.47 B | 1,200 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.16 B | – | 1 |
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Frequently Asked Questions about Net1
Net1 was founded in 1989 and raised its 1st funding round 17 years after it was founded.
Net1 is headquartered in Johannesburg, South Africa. It is registered at Johannesburg, Gauteng, South Africa.
Net1 provides a payment processing solution for businesses. Through the supply of chip card technologies and systems such as the Universal Electronic Payment System, Net1 provides alternative payment solutions for populations in developing economies that have limited access to traditional banking facilities. The transaction is decentralized as all the smart cards contain the necessary info for card-to-card transactions. Also provides a virtual card for mobile devices. Its transaction management solutions enable merchants to accept EFTnon-EFT transactions through multiple platforms.
Net1's top competitors include Flutterwave, Yoco and Network International.
Net1 has made 4 acquisitions, including Bank Frick, Connect, and KSNET Korea.
Net1 has 2 investors. Key investors include General Atlantic, and IFC Asset Management Company.