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FinTech Startup for Sale in Nairobi, Kenya

Fintech neobank in Africa with proprietary technologies available for sale at USD 570,000.
This Business is on a Premium Plan
Established 0-1 year(s)
Employees 2 - 5
Legal Entity C Corporation
Reported Sales Nil
Run Rate Sales USD 3.6 thousand
EBITDA Margin Nil
Industries FinTech
Locations  Nairobi
Local Time 7:39 AM Europe / Madrid
Listed By Business Owner / Director
Status Active
Overall Rating
Full Sale
Asking Price: USD 570 thousand (Native Currency: USD 570,000)
Reason: The owner wants to change career path and relocate overseas to take care of his relatives who are in... View More
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Business Overview
- Emerging neobank in Africa, leveraging proprietary technology to provide enhanced financial solutions through a versatile mobile application designed for retail customers and local merchants.
- We have a mobile application that can be downloaded by the retail customers and local merchants.
- 10,000 customers obtained via word of mouth;
- 300 merchants and counting.
- IP worth USD 1 million.
- We make money through a 1% transaction fee on multi-currency transactions (non-P2P), and a percentage of the yield we generate to the customers.
- App well rated on Google Play: 4.21 stars out of 5. The app has 10,000+ downloads.
- Proprietary technology: in-house developed app, backend in microservices architecture, backoffice and custom-built KYC system. Robust infrastructure as a code deployed in AWS with enhanced cybersecurity.
- 2,100+ followers on Facebook.
- Approved as Data Controller by the ODPC in Kenya.
- Business permit as a financial service company in Kenya.
- The business partners with regulated organisations across Africa.
- Quick and effective customer service.
Products & Services Overview
This company provides a single app to save, send, and spend money smarter across Africa.
A person sending money between countries in Africa loses 5% and waits 3 days. This company cuts it to zero fee and instantly as a peer-to-peer transaction.
The company also generates yield in dollars to its customers.
Main features:
1. International transfers to 11 countries.
2. E-wallet in dollars used by retail customers and merchants to earn yield and hedge against inflation.
The top-selling right now is the international transfers.
Assets Overview
Intangible assets:
- Customers.
- Partnership with solid organisations.
- Mobile banking app and its backend.
- KYC (Know Your Customer) platform.
- Approved trademarks.
- Memorable 5-letter internet domain.
- Branding.
- Marketing materials, including a blog with hundreds of literacy posts.
- C-Corporation in the US with a subsidiary in Kenya.
Facilities Overview
The company is registered in Delaware with a subsidiary in Nairobi, Kenya. The team consists of the founder, his wife and three freelancers.
Capitalization Overview
Self-funded. No debt/loans.
1 sole shareholder has 100% of the company.
Recent Activity
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9 Buyers already contacted this Business. Register below to connect now!
Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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