sendit.money

We look to solve the problem of financial exclusion in the emerging markets. From clunky insecure platforms and apps to high exchange rates, poor customer service and hidden fees, remittance is broken. We are committed to building a new type of remittance, created specifically for the people who need it most, immigrants all over the world. Our unique solution is our technology,  building new infrastructure on Blockchain using a wallet-to-wallet system. We are confident that our innovation and services will give the poor more access to financial services, thus contributing to their welfare and helping to reduce social inequality worldwide. Our technological innovation would enable a channel through which global wealth can be redistributed, promoting an equitable distribution of income and development opportunities at the international level, taking effective action on international cooperation on tax, cross‐border financial flows, migration and remittances.

Billions are lost each year due to transfer fraud, high exchange rates and multiple currency conversions. Hundreds of millions of immigrant families worldwide rely on remittance to survive and in 2019 alone, over £29 billion was lost due to money transfer fraud. Traditional services such as Western Union or conventional banks, not only have high fees and exchange rates but also the money can take days to arrive. The users of our target market need a new, secure, and low-cost channel to send and receive money around the world. By building new infrastructure on the blockchain we will ensure the safety of our customer’s money and using our wallet-to-wallet system money can be easily tracked. 

Sendit.money will be a mobile platform, designed and tested to work on entry-level phones, which are common in the African market where we plan to launch first. It will have an intuitive UI that is localized to the many languages in Africa and will provide modern banking interaction common to the first world, to the developing worlds which we are looking to support. You will be able to easily view money in your wallet, send money instantly to loved ones anywhere in the world as well as track and reverse transactions as needed. This system will ensure that our customers are getting the best available transfer rates at all times. The foundation of the technology will incorporate the benefits of smart contracts available to us within the blockchain infrastructure enabling instant transfer using the wallet-to-wallet system.

Our solution is built specifically for immigrants from emerging markets. Our CEO and founder, Michael Lawal, is a Nigerian immigrant living in the UK has experienced firsthand the problem which we look to solve. We will launch our product initially between the UK and Nigeria and from our initial market exploring phase, where we asked for the opinion of 1.000 potential users, more than 950 gave positive feedback about our innovative product. Initially, we plan to perform a feasibility study that reveals an evident need for the product, presents the cultural expectations, attitudes and local conditions in the UK and Nigeria. We will be focusing on gaining further knowledge about the users, consumers' pain points, stakeholders and market conditions, to tailor our technology and address the societal challenges of the immigrant community. We aim to scale our platform across the rest of Europe and Africa after the feasibility study is completed and the product is launched.

Our purpose is to create career and business opportunities in emerging economies. More notably, we aim to ensure access to safe communities for those in poverty and vulnerable situations, including infants and children. Through fairer exchange rates and reduced transactions fees, more opportunities will be created within families and local communities, which is the bedrock of building resilient societies. We will provide more capital for them to feed, farm, and start small scale businesses through our community cashback plan: for every 1£ of profit, we will give 0.10 p to the local impoverished communities.

2 Full time and 1 part time.