His aim is to simplify daily life for South Africans. A qualified accountant, he utilizes technology to provide financial solutions that cater to both individuals and businesses.
Andre Hugo (photo), a South African accountant and entrepreneur, is the co-founder and CEO of Spot Money, a fintech startup. Founded in 2019, Spot Money offers a comprehensive banking platform that empowers South Africans to manage their finances more effectively.
Founded in 2019, Spot Money offers a banking platform in South Africa that allows users to manage their finances more effectively, whether for saving, spending, or investing. The app combines payments, traditional banking services, rewards, alternative credit, and a marketplace for shopping, all within a single interface.
With Spot Money, users can scan any QR code to make payments. The app also provides loans and insurance through an open banking marketplace. Additionally, users can earn rewards in airtime or data when purchasing from Spot Money’s partners. The company, which does not charge account management fees, already boasts over 100,000 users.
Before launching Spot Money, Andre Hugo co-founded Money for Jam (M4JAM) in 2014, where he served as CEO until 2016. M4JAM delivers impartial, real-time data from actual consumers to brands, businesses, and organizations. The platform supports market research, mystery shopping, merchandising, product training, brand activations, as well as large-scale audit and compliance solutions that are faster and more cost-effective.
Andre Hugo holds two bachelor's degrees in accounting, auditing, and taxation, earned from the University of Cape Town in 1991 and the University of South Africa in 1993. In 1995, he became a Certified Information Systems Auditor. His career began in 1992 at P.A. Becker and Co., a German auditing firm, where he started as a trainee.
He later worked for major firms such as Deloitte between 1996 and 2013, holding various roles, including Director of Innovation, Marketing Director, and Head of Digital. From 2017 to 2020, he joined Virgin Money, a Scottish financial company, where he served as a strategic advisor and later as CEO.
Melchior Koba
