Mandla Money provides an SMS and WhatsApp-based digital wallet that enables users in emerging markets to send, receive, and store digital assets without requiring internet access or smartphones. This technology addresses the lack of financial infrastructure by facilitating low-cost peer-to-peer transactions and cross-border remittances, enhancing financial inclusion for underserved populations.
Funding
$50K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
In emerging markets, many individuals lack access to reliable internet and smartphones, hindering their participation in the digital economy. Traditional financial systems often exclude these populations due to infrastructure limitations and high transaction costs. This lack of access limits opportunities for peer-to-peer transactions, cross-border remittances, and secure storage of value.
Solution
Mandla Money provides a suite of digital wallets accessible via SMS, WhatsApp, and a web application, enabling users in emerging economies to transact with digital assets without requiring internet access or smartphones. The SMS wallet allows users to send and receive digital assets through simple text commands, while the WhatsApp wallet offers a user-friendly interface for digital asset transactions. The web application facilitates bulk distribution of aid via digital assets, such as social grants and university scholarships. By leveraging the XRP Ledger, Mandla Money offers low transaction fees, fast transaction times, and access to various XRPL-issued digital assets.
Target Audience
Mandla Money targets individuals in emerging markets who lack access to smartphones, reliable internet, and traditional banking services, as well as organizations distributing aid and social welfare.
Features
- SMS-based wallet accessible via simple text commands for sending and receiving digital assets
- WhatsApp-based wallet providing a user-friendly interface for digital asset transactions
- Web application for bulk distribution of aid via digital assets (e.g., social grants, relief aid, university scholarships)
- Support for peer-to-peer payments with lower transaction costs, enhanced transparency, and improved security
- Facilitation of cross-border remittances, eliminating intermediaries and traditional banking systems
- Integration with the XRP Ledger for low transaction fees and fast transaction times
- Compatibility with stablecoins and CBDCs