Driving Change: Loop Scales Innovation in SA’s Informal Economy

PIC CAPTION: Imtiyaaz Riley, a third generation minibus taxi entrepreneur has pioneered a new award-winning mobility fintech startup, Loop, that is transforming the lives of many people in South Africa's townships and informal economies. Image: Supplied / Loop

Winning the AfricArena Best Agonostic Startup Award at the AfricArena Johannesburg Fintech, Deep Tech & Enterprise Summit 2025 edition gave Imtiyaaz Riley and his team a significant boost as tech pioneers in South Africa’s minibus taxi industry. Imtiyaaz is the founder and CEO at Loop, an award-winning mobility fintech startup that is transforming South Africa’s mobility industry. He tells AfricArena’s Jabulile Sonya Ngwenya more about Loop’s successful startup story. 

Starting up Loop, Imtiyaaz tells AfricArena, was an easy decision. A bold visionary, Imtiyaaz says, “the concept for Loop was inspired by my personal experience as a third-generation minibus taxi entrepreneur growing up on the Cape Flats. Seeing firsthand the transport and payment challenges faced by millions of commuters motivated us to build a solution that would digitize mobility, drive financial inclusion, and uplift underserved communities.” 

Loop, Imtiyaaz says, is “an innovative platform digitising mobility and payments for emerging markets. We offer commuters seamless, real-time ride-booking and cashless payment solutions via WhatsApp, ensuring safe, efficient, and affordable transportation while empowering informal economies through digital financial inclusion.” 

He co-founded Loop with Jamie Thurston Wyngaard, a design thinking expert and serial entrepreneur who shares the same passion for driving innovative change within this industry. Together, they are already making a difference. 

Seeing the shift in people’s lives as they interact with the Loop app drives Imtiyaaz’s passion, for he says, “Loop’s solution through using technology to solve these real-life problems and create meaningful change in communities is incredibly rewarding and motivates me every day. I'm passionate about what I do because Loop's solutions genuinely impact people's lives.” 

This passion shows as Imtiyaaz speaks about what a day looks like for him behind the wheels at Loop. “As a founder, no two days are the same—but most start early. My mornings are usually spent aligning with the leadership team, reviewing priorities, and addressing any critical issues. Midday is focused on external meetings—partners, investors, or key clients. Afternoons are often reserved for strategy, product reviews, or team check-ins. Evenings may include industry events or catching up on emails. Every day is fast-paced, hands-on, and deeply focused on execution.”

Loop’s story began a year after the pandemic when they kickstarted operations in 2021. Imtiyaaz says “launching Loop in 2021, amid the pandemic, was challenging but also an incredible opportunity. The disruptions in traditional transport highlighted the urgent need for safe, reliable, digitally-enabled mobility solutions. It pushed us to innovate rapidly, adapt to evolving commuter needs, and reinforced our mission to transform mobility and payments in emerging markets.”

The journey was not without its challenges, Imtiyaaz says. “One of our biggest challenges has been navigating and digitising the informal transport industry, which is deeply rooted in traditional systems and often resistant to change. Building trust with drivers, associations, and commuters took time. We overcame this by being on the ground consistently, listening to stakeholders, and co-designing solutions that reflect their needs. Another challenge has been access to capital early on—we bootstrapped for two years and had to be extremely resourceful while building traction.”

He adds that during the funding winter, the Loop team “focused on sustainability and operational efficiency. We doubled down on unit economics, scaled only what worked, and prioritized revenue-generating activities. We built strong B2B partnerships, secured strategic grants, and leaned into non-dilutive funding opportunities. Our ability to remain lean, customer-focused, and impact-driven helped us grow despite the funding climate.”

Winning the AfricArena Best Agnostic Startup Award at the 2025 AfricArena Imtiyaaz says, “significantly boosted Loop's visibility and credibility. It opened doors to new investors, strategic partners, and business opportunities, accelerating our growth and validating our innovative approach to digitizing mobility and payments in South Africa's minibus taxi industry.” 

Imtiyaaz recalls the defining moment that confirmed there was a great need for their services through a pilot. “When we piloted Loop’s digital payments in Cape Town, we saw immediate adoption and impact. Commuters and drivers enthusiastically embraced our solution, validating the need for safe, affordable, and cashless transport options in underserved communities.”

The largest amount of funds Loop has raised to date is US$150,000 in angel investment. These funds, Imtiyaaz says, “were used to build Loop’s MVP for mobility and payments, onboard their first users and scale our operations to serve thousands of commuters and drivers across Cape Town.”

He shares that following this achievement, “Loop has opened a funding round, seeking to raise $500k at a $10 million valuation, which will further accelerate our growth and impact in emerging markets.”

Imtiyaaz mentions these funds will be used to scale Loop’s payment and mobility infrastructure, expand its future operations to new cities in South Africa, onboard new B2B clients, grow the team and develop strategic market penetration initiatives. This, he says, ties in with Loop’s mission to expand beyond Cape Town and “deepen our impact across South Africa’s townships and informal economies.”

Reflecting on his founder journey to date, Imtiyaaz shares the best advice he received from a mentor, which was “Don’t chase funding—chase value. If you solve a real problem and do it well, the money will follow.” Imtiyaaz shares that the wisdom in this advice transformed his team’s perspective as “this mindset has kept us grounded, impact-driven, and focused on building something meaningful and sustainable.”

He says that the advice he has for founders who want to build a startup in the same sector is to “Build with the people, not just for them. Deeply understand the realities of informal economies and design solutions that are simple, affordable, and trusted. Success in mobility and fintech requires patience, partnerships, and relentless execution—stay grounded, stay focused, and always lead with impact.” 

For more information about Loop, visit their website at www.looptaxi.co.za. To find out more about AfricArena and our upcoming events, visit our website at www.africarena.com.