Boston, MA – According to filings with the U.S. Securities and Exchange Commission, Wave Mobile Money is raising $252,638,205.00 in new funding. Sources indicate as part of senior management Chief Executive Officer, Drew Durbin played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Wave Mobile Money
In 2016, we began building Wave, a mobile money product for domestic markets in Africa. The problem: In 2017, nearly 60% of adults in sub-Saharan Africa had no bank account. That’s for good reason the fees are too high, the closest branch can be miles away, and most merchants only accept cash. Without access to financial institutions, people are forced to keep their savings under the mattress. Small business owners rely on lenders who charge extortionate rates. Parents spend hours waiting in line to pay school fees in cash. How were solving it: Were building financial services to work as they should: no account fees, instantly available and accepted everywhere. In places where electricity, water and roads don’t always function, were creating financial infrastructure that just works.? In fall 2017, we launched a mobile app in Senegal for cash deposit, withdrawal, and peer-to-peer and business payments and in July 2019, we launched in Cote dIvoire. Our goal is to make Africa the first cashless continent.

To learn more about Wave Mobile Money, visit http://www.wave.com/

Contact:
Drew Durbin, Chief Executive Officer
888-966-8603
ddurbin@wave.com
https://www.linkedin.com/in/drew-durbin-52517614/

SOURCE: http://www.intelligence360.io
Copyright (c) 2021 SI360 Inc. All rights reserved