SendSprint, a Fintech company based in the UK with operations within the US and Nigeria, has launched with a feature set to give it an edge over its competitors- a $5 flat fee for all transfers.
SendSprint is approved by the Central Bank of Nigeria(CBN).
SendSprint enters the remittance market that is dominated by popular Fintech companies such as MoneyGram and Western Union, and new fintechs fintechlike Zepz, Remitly, and Wise. SendSprint’s $5 flat fee for all international money transfers might give it an edge over its rivals that run on a sliding scale.
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SpendSprint started with destination countries Kenya, Nigeria, and South Africa but has entered a strategic partnership with Africa’s highest-valued startup, Flutterwave, which already supports cross-border transfers to 34 of the continent’s 54 countries. The partnership will help SendSprint quickly comply with regulations in its countries of operation.
The CEO of SendSprint Damisi Busari, an ex executive of Flutterwave, says she founded SendSprint to connect the African Diaspora “to loved ones at home by enabling fast, simple and hassle-free international transfers.” Transfers with Sprint are completed within 5 minutes.
Ms. Busari said “We understand the connection that people have with their home countries and the importance of sending money and gifts home to support loved ones. SendSprint is about connecting the African diaspora to their loved ones at home by enabling fast, simple, and hassle-free international transfers as well as an innovative gifting experience.
This is a product for the African diaspora. All of us at SpendSprint understand the multiple demands that Africans living abroad need. Our service recognizes and reflects this”
SpendSprint will in the first 18 months target 300,000 of the 1.7 million Africans in the U.K. and grow from there to the U.S. and Canada.
