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The Massive Amount of Work Behind “Stumbling Upon” a $143M Fintech Idea

This is Louwrens Van Schalkwyk, a seasoned entrepreneur with nearly two decades of experience in building and leading companies in the fintech sector. When Louwrens and his co-founder first started out, they were focused on solving a frustrating payroll problem for the temporary employment sector in South Africa. But in tackling one problem, they discovered new challenges—which eventually revealed an entirely new opportunity. Their solution, originally intended to streamline internal payroll management, ended up laying the foundation for a new startup, MyBucks. I recently had the opportunity to sit down with Louwrens and dive into his Startup Journey. He mentioned that he and his co-founder “almost stumbled upon the opportunity by mistake.” However, it quickly became clear that their success was anything but accidental. It was built on countless late nights, strategic pivots, and an unyielding belief in the value they could provide. Within three years, MyBucks evolved from a small, bootstrapped tech experiment into the first online lending platform in South Africa. It ultimately became a leading fintech company across nine African countries, offering comprehensive services in banking, lending, and insurance. They later expanded into Europe and made history as the first African-focused fintech to list on the Frankfurt Stock […]