African Blockchain-based Money Transfer Service, Transfy, Set to Go Continental After a Sucessful First Year

Transfy, a Nigerian fintech, has seen strong early uptake of its payments infrastructure, processing $15 million in its first year as it plans for continental expansion.

Launched in April 2021, the Lagos-based Transfy has developed a blockchain-powered financial services platform that makes it easy for individuals and businesses across Africa to seamlessly, securely, and freely send and receive money. 

Key features include:

  • Multi-currency wallet
  • International Mobile Recharge
  • Send Money in Minutes


SEE ALSO: 3 Francophone African Countries Planning to Enable Crypto Payments via Telegram ($TON)


Users are able to easily create an account on the Transfy platform, submit their KYC details, and start transacting. Vincent Omulo, the startup’s Co-Founder and Chief Operations Ffficer, said moving money across Africa had become too too expensive. 

In a statement, Vincent said:

“Most of the money remittance companies concentrate on other corridors outside of Africa, like origination of transactions from the United States, Canada, United Kingdom, and Middle East among others. There are very few companies which are committed to connecting Africa financially. We therefore came in to bridge this gap.”

– CEO / Co-Founder, Transfy

The bootstrapped Transfy processed $15 million in transactions in its first year of operations, with zero marketing spend, and is currently raising a seed round for further growth.

According to Vincent, the startu pis currently operational in:

  • Botswana
  • Ghana
  • Kenya
  • Nigeria
  • Rwanda
  • South Africa
  • Uganda
  • Zambia

“We are rapidly expanding, and before the end of Q2, we will be present in 30 African countries.” – CEO, Transfy


RECOMMENDED READING: [WATCH] The Pan-African Payment Settlement System Launches with Approval from the African Union


Thank you for your support by helping us create content:

BTC address: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT

ERC20 Address: 0x03139524428e40E31f13909f8D994C915FB91277

SOL address: 9cC65AWFHj848kntcoyiT8av3jiRQEqyTTmBR1GvVUb


Follow us on Twitter for the latest posts and updates

Join and interact with our Telegram community


Subscribe to our YouTube channel below for more updates: