The African continent is home to over a billion people and second largest on the earth. It is also the most expensive to send money globally; the cost of money transfers in sub-Saharan Africa is the highest, according to a report by Global Knowledge Partnership on Migration and Development for the World Bank.
Any wonder why the FinTech sector is the belle of the start-up ecosystem in Africa? Especially with the proliferation of apps to aid the ease of sending money and receiving money for different purposes?
We want to provide a formal, safe and efficient way for Africans to exchange currencies across borders. With us, you can determine how far your money can go at the click of a button.
― Ayo Akindele, CEO, Kyshi
Kyshi is one of many apps in the FinTech industry facilitating simple, money transfer methods. It is a UK-based, Neo-bank for Africans globally, and the new way to send and receive money to and from Africa.
- the cheapest, easiest and fastest way to send money with its easy-to-use platform for international transactions. Users can send money at the speed of light and enjoy low charges with Kyshi (through the P2P marketplace or Express services).
- multi-currency account for Africans to send and receive money across international borders. They can also create and accept offers at their preferred rates on the Kyshi marketplace.
- request for money easily using a unique link if there is a need for payment, a stipend or a surprise gift. Use Kyshi to share and invite others to do the same for the best rates to send money quickly.
- Rewards and deals from top brands its users love because they deserve the good life.
- its users as their travel buddies, to shop and spend with no borders. Users enjoy speedy and limitless transactions with their virtual and physical Kyshi cards. They can shop and pay freely online and in-store anywhere across the world.
What was conceived in 2011 – because Ayo Akindele found it difficult to receive and send funds from Nigeria to the UK, then progressed into a WhatsApp group in 2016 before launching in 2020 – became one of 60 African-focused start-ups selected for the Google for Startups Black Founders Fund 2022 six months ago.
An exciting moment for Ayo and the Kyshi team. “We haven’t scratched the surface yet. We understand it’s a marathon and we’re geared to go the distance,” said Akindele, downplaying the team’s achievement of being selected from 4, 000 applications. It was also a way for the company to showcase to the world what impact it could have when black founders are funded.
Then only recently, Kyshi officially entered Canada 🇨🇦 having secured its MSB licence from the Canadian Regulator – Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
Another worthy feather in its cap.
Kyshi (pronounced kee-shee) comes from Kishi, the Nigerian and Ghanaian slang for “money”.
Kyshi’s presence in Canada is three-fold.
One, according to migration data projections by 2041, one in four Canadians will be born in Africa. This means Kyshi’s existing and new users can send money to and from Canada through its P2P and Express services while enjoying the cost-saving benefits our UK & US users have enjoyed to date. We’re so pleased to bring this and more offerings to Canada.
Two, Africans living in Canada can manage their financial lives both at home and in Canada on a single platform.
Last, the platform allows Africans to connect with and continue to provide for their loved ones back home.
Akindele sees this achievement as a “solid way to end Q1 as we further our mission to enable seamless and affordable money transfer and key financial services. Kyshi to the world; Kyshi to Canada.”
GetFundedAfrica is building Africa’s largest tech-enabled marketplace, connecting African founders with global mentors, coaches, corporates, investors, and government. Whether you want to raise funds ranging from $100, 000 to $50m or you simply want to grow your business, sign up for free at: www.getfundedafrica.com.