CoinFling
remittances . mobile/online remittance . consumer
FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 01/05/2020
Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive WhatsApp community where you can engage in discussions with global industry experts!
About
Risk Management Software & Compliance Services - We help banks reduce compliance risk and increase earnings from their Money Service Business (MSB) customers
MEDICI Analysis
CoinFling is a mobile money transfer company that allows users in developed countries to send money using its mobile applications to family members in developing countries on their mobile wallets, bank accounts, or rechargeable debit cards. The CoinFling mobile app allows users to enter the amount of cash they want to send, enter a recipient’s cell phone number and pay with a debit card. The money is then transferred to the recipient’s mobile wallet.
Focus
PRODUCTS & SERVICES
Money transfer app-send money to African countires. The mobile app helps immigrants instant to transfer money to their home town.
REVENUE MODEL
The company generates revenues from the transaction fee: $2.99.
MAIN CLIENTS
Financial institutions
EXISTING PARTNERSHIPS
Partnered with Banks
Wallet providers & Mobile operators Gulf American Bank
Safaricom
M-PESA
Airtel Money
Gulf African bank.
COMMENT
In Kenya, where CoinFling operates, over 70 percent of adults have a registered mobile wallet, using their cell phones to pay bills or buy groceries. Commpany plans to launch risk management software for banks.
Traction
REVENUE
0.0 in 2014
People
FOUNDERS
Roble Musse
NUMBER OF EMPLOYEES
1-10
Momentum
FUNDED
NO
NUMBER OF FUNDING ROUNDS
1
TOTAL FUNDING
$300 K
DATE OF LAST FUNDING
2013
SEED & PRIOR FUNDING
$300 K
SEED CLOSED ON
Jul 2013
LISTED
NO
Sign up for 7 days free trial with MEDICI Inner Circle to follow and track profiles you care about.
Related Companies
Boom Financial provides an online financial platform for customers to share and spend money from their cell phones in the United States and Mexico. It allows users to send ...
Moneytis is a provider of a digital platform for money transfer. The company helps the people in sending money abroad by reducing the cost of transfer. Over the past 6 mont...
peerTransfer has been rebranded as Flywire. Flywire is an online domestic and international payment platform that enables its users to make payments. It also offers a cross...
Join the exclusive global FinTech community
Be a part of the global FinTech community on WhatsApp