In 2019, immigrants worldwide sent over $550 billion home to family and friends, dwarfing foreign governmental aid. In the age of cheap, quick transfers through services like Paypal and Venmo, these people are trekking to stores to pay fees averaging over 7% for transfers that typically take 24 hours or more.
Sendwave’s mission is to change that by making sending money anywhere in the world easy and affordable. Since 2014, our app has allowed Africans in the US, the UK, and Canada to send money instantly to mobile money wallets in Kenya, Uganda, Ghana, Tanzania, Nigeria and Senegal saving our users over 70% relative to Western Union and MoneyGram.
Wave’s mission is building financial services to work as theyshould: no account fees, instantly available and accepted everywhere. In places where electricity, water and roads don’t always function, we’re creating financial infrastructure that “just works.” In fall 2017, we launched a mobile app in Senegal for cash deposit, withdrawal, and peer-to-peer and business payments. We’ve recently expanded to Cote d’Ivoire and are adding more countries this year. Our goal is to make Africa the first cashless continent. That’s where you come in… .