Sats App provides a global digital wallet allowing users to save money in Naira and USD with NDIC insured deposits. Users can spend funds locally for utilities and airtime, or shop globally using a virtual USD card. The platform facilitates instant local money transfers via a free NGN virtual account and supports international remittances.
Funding
$381.9M 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
Individuals and businesses in Nigeria face challenges due to currency volatility and limited access to stable currencies for transactions. This makes it difficult to preserve value and engage in international commerce.
Solution
Sats provides a digital wallet solution that enables users to convert Nigerian Naira into digital dollars, facilitating transactions in a more stable currency. By providing access to digital dollars, Sats aims to mitigate the risks associated with Naira's volatility, offering a more reliable medium of exchange and store of value. The wallet allows users to seamlessly transact, save, and manage their finances in a currency less susceptible to local economic fluctuations. This enables users to protect their assets and participate in global markets with greater confidence.
Target Audience
The primary target audience includes individuals and businesses in Nigeria seeking a stable currency alternative for savings and transactions.
Features
- Naira to digital dollar conversion
- Digital wallet for secure storage
- Transaction capabilities in digital dollars