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Nigeria’s Flutterwave launches payment product Send App in US and Canada

Flutterwave is keen on tackling the issues in remittance by offering users in the US and Canada an affordable channel to send money

One of Nigeria’s leading payment fintech Flutterwave has launched its new payment product, Send App, in the United States and Canada. The App will allow African diaspora users to send money to families, friends and loved ones faster, securely, quickly and at affordable rates. Send App will now support transfers from US and Canada and has added other recipient countries, Egypt and Sénégal, to its network.

Source: Flutterwave

Remittance cost to Africa has significantly increased over the years, with the world bank reporting the average cost of sending $200 to Africa was 8.5 per cent of the amount transferred compared to less than 6 per cent globally in 2022, the highest globally.

Flutterwave is keen on reducing the laborious, stressful experience of remittance to Africa, as the Send App, which represents a user-friendly remittance solution, aims to enhance customer experience. Via Send App, millions of Nigerians in the US and Canada can easily access affordable remittance services, improving the development of finance for Nigeria.

Flutterwave will also seek to leverage the remittance industry in its quest for growth as a payment powerhouse globally. The presence and continuous innovation in the industry will enhance the competition and hopefully see the company rise above the likes of MoneyGram, Western Union and Ria Money Transfer. The Send App is currently available on Play Store and App Store.

Focus Box

Company Name:  Flutterwave

Industry: Payments, Financial Services

Founded: 2016

CEO: Olugbenga Agboola

Funding raised: $439,000,000

Revenue: N/A

Customer base: 900,000

Key countries: Nigeria, Ghana, Kenya and the Rest of the world