Up Money Limited, also known as Up Money (Pty) Ltd, operated primarily in South Africa, presenting itself as a "stokvel" or investment opportunity. It solicited funds from the public by promising unrealistically high returns (up to R10,000) for a small joining fee (R180). Investigations by the Financial Sector Conduct Authority (FSCA) of South Africa concluded that the company's business model was unsustainable and met the definition of a pyramid scheme, as returns were paid from the contributions of new members rather than from any legitimate business activity. Following these findings, the company's operations were shut down, and its director was fined and debarred.

Founded in

India