SendSprint is a money transfer startup operating in the US and Nigeria that offers a flat fee of $5 on all international transfers. It was founded by Damisi Busari, a former Flutterwave executive.
SendSprint began operations on July 13, 2022. It has an 18-month roadmap to reach about 300,000 Africans in the UK and extend to US and Canada. The company will be directly running against old-time competitors like Western Union, MoneyGram, Zepz, Remitly, and Wise, a TechCrunch article notes.
However, its flat fee charge strategy may give it an advantage and entice the nearly 1.7 million Africans living in the UK.
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The plan is to first support sending money to Kenya, Nigeria, and South Africa from the UK. Also, it will piggybank on Flutterwave’s influence as it is entering a partnership with the under-scrutiny fintech.
“The UK launch represents a significant step for SendSprint as we look to expand and connect people across the globe to their homes in Africa. We have ambitous growth targets which will be supported by scaling up our team across both product and customer service,” Busari said in a statement.
SendSprint will also have a gift card service supported by Shoprite, Jumia, and select African hospitals and pharmacies. According to the founder, the service is an outcome of a study showing that many Africans use remittance to sort out food, medicine, and school fees.
The startup claims to be approved by the Central Bank of Nigeria, giving it some level of trustworthiness. You can start using the service by signing up through this link.
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