#28: Sendwave - How the mobile remittances service scaled from Y Combinator to a $500M WorldRemit exit

Afrobility: Africa Tech and Business

Kandungan disediakan oleh Olumide Ogunsanwo and Bankole Makanju, Olumide Ogunsanwo, and Bankole Makanju. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Olumide Ogunsanwo and Bankole Makanju, Olumide Ogunsanwo, and Bankole Makanju atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

3+ y ago 1:15:53

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Overview: Today, we're going to talk about Sendwave - the mobile remittances service that was acquired by WorldRemit in 2020-Aug. We start with the context of African remittances, discuss Sendwave's early history, growth, acquisition by WorldRemit & end with our overall outlook. This episode was recorded on May 2nd, 2021

Companies discussed: Sendwave (Remittances), Wave (Mobile money / Consumer FinTech), WorldRemit (Zepz), Chipper Cash, Transferwise, Remitly, Western Union, MoneyGram & Safaricom

Business concepts discussed: African remittances, personal finance OS, neobanks, Market expansion entry & Consumer Fintech (WealthTech) entry strategy

Conversation highlights:

(01:15) - What is Sendwave and why we’re talking about it
(05:10) - Global Remittances context, size and trends
(11:30) - Remittances in Sub-Saharan Africa
(21:00) - Sendwave founding and early history
(25:15) - Product strategy - UX, fees, disbursement speed, integrations
(31:12) - Fundraising - Seed, series A and expansion
(43:20) - WorldRemit's $500M acquisition
(49:40) - Bankole’s overall thoughts and outlook
(58:30) - Olumide’s overall thoughts and outlook
(1:09:38) - Recommendations and small wins

Olumide’s recommendations, small wins & open questions:

Recommendation: Software is eating the rest of the world (By Derin Adebayo): Fabulous.
Recommendation: The Simple Path to Wealth (JL Collins). Amazing.
Small win: Flew to ATL to catch-up with a friend visiting. Awesome.

Bankole’s recommendations, small wins & open questions:

Recommendation: Promising Young Woman
Small win: Started a garden to grow vegetables
Other content: Symplifi & Wave Mobile Money Engineering blog

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