CoinFling

remittances . mobile/online remittance . consumer

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...

FOUNDING YEAR: 2012 LOCATION: United States
136 VISITORS 245 VIEWS
Last Update: 01/05/2020
Total funding$300 K
Total employees1-10

About

Risk Management Software & Compliance Services - We help banks reduce compliance risk and increase earnings from their Money Service Business (MSB) customers

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Inner Circle 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

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