#28: Sendwave - How the mobile remittances service scaled from Y Combinator to a $500M WorldRemit exit


Manage episode 291884698 series 2712808
Por Olumide Ogunsanwo & Bankole Makanju, Olumide Ogunsanwo, and Bankole Makanju descoberto pelo Player FM e nossa comunidade - Os direitos autorais são de propriedade do editor, não do Player FM, e o áudio é transmitido diretamente de seus servidores. Toque no botão Assinar para acompanhar as atualizações no Player FM, ou copie a feed URL em outros aplicativos de podcast.

Overview: Today, we're going to talk about Sendwave - the mobile remittances service that was acquired by WorldRemit in 2020-Aug. We start with the context of African remittances, discuss Sendwave's early history, growth, acquisition by WorldRemit & end with our overall outlook. This episode was recorded on May 2nd, 2021

Companies discussed: Sendwave (Remittances), Wave (Mobile money / Consumer FinTech), WorldRemit, Chipper Cash, Transferwise, Remitly, Western Union, MoneyGram & Safaricom

Business concepts discussed: African remittances, personal finance OS, neobanks, Market expansion entry & Consumer Fintech (WealthTech) entry strategy

Conversation highlights:

  • (01:15) - What is Sendwave and why we’re talking about it
  • (05:10) - Global Remittances context, size and trends
  • (11:30) - Remittances in Sub-Saharan Africa
  • (21:00) - Sendwave founding and early history
  • (25:15) - Product strategy - UX, fees, disbursement speed, integrations
  • (31:12) - Fundraising - Seed, series A and expansion
  • (43:20) - WorldRemit's $500M acquisition
  • (49:40) - Bankole’s overall thoughts and outlook
  • (58:30) - Olumide’s overall thoughts and outlook
  • (1:09:38) - Recommendations and small wins

Olumide’s recommendations, small wins & open questions:

Bankole’s recommendations, small wins & open questions:

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