Fintech Project |Nigeria - FIT

Is a bold and innovative international money transfer solution for executing financial transactions that are globally inclusive, faster, secure, and efficient. The International Money transfer industry is estimated at $683 Billion. This figure is projected to attain or exceed $ 930 Billion by 2026. One of the challenges that the industry faces, which the company is positioned to solve, includes but is not limited to the following: Lengthy Procedures High Marked-up Exchange Rates Late Deliveries Slow transfer systems The company envisages becoming one of the best platforms to penetrate the existing market by proffering solutions to the problems mentioned above and more while distinguishing its brand as an IMT service provider of choice in Africa. We intend to leverage the combined traction of our strategic international partnerships in the UK, US, and middle east technologically in this sphere to penetrate the market, starting from Africans in the diaspora. Nigeria, which has a sizable diaspora worldwide, is the largest recipient of remittance flows with $20.9 billion in 2022, followed by Ghana ($4.5 billion) and Kenya ($3.718 billion). In Senegal, remittances of $2.7 billion. Our dynamic technological system consists of the following features.  Online remittance manager  Mobile remittance manager  Agent remittance manager  Mobile clearing house network  Cash pickup at designated countries  B2B, B2C and C2B transactions globally  Multicurrency wallet  Cryptocurrency remittance transaction The company needs funding of USD 10M, 10% of the funds shall be used for project implementation, operations, and marketing. While 80% of the funds shall be used for pre-funded accounts in Dubai, Nigeria, the UK, and the USA for offline transactions, this is a strategy to ensure speedy B2B and C2B transactions globally.
USD Year 1 Year 2 Year 3 Year 4 Year 5
View Executive Summary

Executive summaries and full decks can be viewed only by registered PFX Investors (online and Concierge).

Registered Investors, please login to view Executive Summaries.

Not yet registered? Register a new PFX Investor Account.