Sendwave is an app-based remittance platform that enables users to transfer money internationally with minimal service fees, ensuring that more funds reach recipients. By linking a debit card and verifying identity, users can quickly send money to loved ones in various countries, making the process as simple as sending a text.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional methods of sending money internationally often involve high service fees and can be inconvenient, requiring users to visit physical locations and fill out paperwork. This can be particularly challenging for individuals sending remittances to support family and friends in other countries.
Solution
Sendwave is a mobile application that facilitates international money transfers directly from a user's debit card to recipients in various countries. By streamlining the remittance process through a user-friendly interface, Sendwave minimizes service fees, ensuring a greater portion of the funds reaches the intended recipients. The platform emphasizes ease of use, allowing users to quickly send money to loved ones with a process designed to be as simple as sending a text message. Sendwave is operated by Zepz and is authorized to transmit money in the US, Canada, the UK and the EU.
Target Audience
The primary target audience consists of individuals who regularly send money to family and friends living abroad, particularly in developing countries.
Features
- Debit card linking for seamless transfers
- Mobile app available on iOS and Android
- 24/7 customer support
- Real-time exchange rate display
- Send to a wide range of countries across Africa, Asia, and Latin America
- User identity verification for secure transactions