#28: Sendwave - How the mobile remittances service scaled from Y Combinator to a $500M WorldRemit exit
Afrobility: Africa Tech & BusinessMay 03, 2021
28
01:15:53173.71 MB

#28: Sendwave - How the mobile remittances service scaled from Y Combinator to a $500M WorldRemit exit

Overview: Today, we're going to talk about Sendwave - the mobile remittances service that was acquired by WorldRemit in 2020-Aug. We start with the context of African remittances, discuss Sendwave's early history, growth, acquisition by WorldRemit & end with our overall outlook. This episode was recorded on May 2nd, 2021


Companies discussed: Sendwave (Remittances), Wave (Mobile money / Consumer FinTech), WorldRemit, Chipper Cash, Transferwise, Remitly, Western Union, MoneyGram & Safaricom


Business concepts discussed: African remittances, personal finance OS, neobanks, Market expansion entry & Consumer Fintech (WealthTech) entry strategy


Conversation highlights:

  • (01:15) - What is Sendwave and why we’re talking about it
  • (05:10) - Global Remittances context, size and trends
  • (11:30) - Remittances in Sub-Saharan Africa
  • (21:00) - Sendwave founding and early history
  • (25:15) - Product strategy - UX, fees, disbursement speed, integrations
  • (31:12) - Fundraising - Seed, series A and expansion
  • (43:20) - WorldRemit's $500M acquisition
  • (49:40) - Bankole’s overall thoughts and outlook
  • (58:30) - Olumide’s overall thoughts and outlook
  • (1:09:38) - Recommendations and small wins


Olumide’s recommendations, small wins & open questions:



Bankole’s recommendations, small wins & open questions:


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