CoinFling
remittances . mobile/online remittance . consumer
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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
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FOUNDING YEAR:
LOCATION:
Views:
$300 K
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.
CoinFling
About
Momentum
FUNDED
NO
LISTED
NO
Other