African fintech company SendSprint is launching its money transfer platform in the UK to help the country’s African diaspora send money back to Nigeria, Kenya and South Africa for a flat fee.
“The UK launch represents a significant step for SendSprint as we look to expand and connect people across the globe to their homes in Africa,” Damisi Busari, CEO and founder, SendSprint.
There are an estimated 1.7 million people in the UK’s African diaspora. SendSpring said its remittance service will charge a $5 flat rate as it looks to win people over from banks and other services that charge higher rates or sliding scale fees.
The platform also provides a gift card service and plans to expand into the US and Canada in the “coming months”.
Busari added: “This is a product for the African diaspora, by the African diaspora. All of us at SendSprint understand the multiple demands that Africans living abroad lead. Our service recognises and reflects this.”
SendSprint is partnering with African payments technology company Flutterwave, where Busari was previously an executive, to provide the infrastructure for the service.
The company was incorporated in April and has chosen the UK as its international headquarters. It also has offices in the US and Nigeria.
According to the company, it has applied for “the necessary licensing through a regulated entity”.
“We have ambitious growth targets which will be supported by scaling up our team across both product and customer service,” said Busari.
Fellow international payments platform Atlantic Money recently gained its payments licence in Europe.