We enable migrants and diaspora in Europe and the U.S. to help their family back home access credit, instead of sending money. They just add money to their SympliFi digital wallet, we lock the amount, and it becomes digital collateral their family back home use to instantly access low interest loans locally, anytime they need cash. No money is sent - it stays in the wallet and they earn interest on it, while their family accesses money on their own. A win-win. No fees, we generate revenue from our lending partners. Our addressable market is the estimated $140bn / annum in remittances that are sent for non-consumption, and applicable to our credit guarantee solution.
#FinTech #Africa #MicroLending