Ugandan Cross-Border Crypto-Fiat Money Transfer App, EverSend, Re-Brands as it Plots Growth

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Eversend, the money transfer service co-founded by Ugandan entrepreneur, Stone Atwine, is rebranding itself as expands in product and market.

In 2020, when we first covered the startup, the app enabled users and businesses to transfer money from mobile to mobile across borders for up to seven times cheaper than existing bank and wire transfers.

Today, the startup’s operations span:

  • Cross-border payments
  • Virtual credit cards
  • Currency exchange
  • Cryptocurrency transfers

Now, in addition, Eversend has introduced a B2B crypto-fiat payments application that enables businesses to accept cryptocurrency as a payment method. This solution, an API that businesses can plug into their own platforms, allows companies to hold, payout, collect, and convert fiat and cryptocurrencies.

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SEE ALSO: Bank of Uganda (BoU) Welcomes Crypto Businesses into its Regulatory Sandbox

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The API and web-based platform, which allows you to move from fiat currencies to crypto and back, is being launched in crypto-friendly markets. 

“With these implementations, we have matured into an advanced company – from a mobile application to a retail and business payment platform.

The re-brand includes a changed logo and visual style, including the font and colour to reflect who we are today and symbolise our future.”

– Eversend

According to its founder in a past interview, the startup has processed more transactions every year since 2019 when it started operating:

  • $800, 000 in 2019
  • $5 million in 2020
  • $230 million in 2021

“We started with one inspired young man fixing the perils of sending remittances to his grandma in Uganda. Now we’re building the financial octopus for Africa and beyond.”

– Eversend

Atwine has indicated that they are looking to raise between $15 million and $25 million from investors. Eversend, whose service is available in:

  • Kenya
  • Uganda
  • Ghana
  • Nigeria and
  • Rwanda

is also looking at regional expansion.

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RECOMMENDED READING: Uganda Seeks CBDC Lessons from Nigeria

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