CoinFling

remittancesmobile/online remittanceconsumer

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 01/05/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

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

YES

TOTAL FUNDING

$300 K

DATE OF LAST FUNDING

2013

SEED & PRIOR FUNDING

$300 K

SEED CLOSED ON

Jul 2013

LISTED

NO

BASICS

FOUNDING YEAR:

2012

LOCATION:

United States

Views:

108 VISITORS | 192 VIEWS
LATEST FUNDING ROUND

$300 K

TOTAL EMPLOYEES
1-10

About

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.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack