Stratum Remit offers a conversational AI platform that lets users send cross‑border money simply by speaking to its assistant, Kora, eliminating the need for forms and menus. The service charges no transfer fees, earning only a small margin on exchange rates, and most payments arrive instantly with real‑time tracking. Kora also provides smart recommendations, such as optimal sending times and birthday reminders, to improve the remittance experience.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional remittance services often require users to navigate multiple screens, pay per‑transfer fees, and wait days for funds to reach recipients, creating high costs and delays for diaspora families.
Solution
Stratum Remit offers a conversational AI assistant, Kora, that enables users to initiate cross‑border transfers through simple chat commands, eliminating the need for forms. The platform charges no explicit transfer fees and instead applies a transparent 1‑2 % margin on the foreign‑exchange rate, which is displayed to the user before sending. Most transfers are delivered instantly or within 15 minutes, with real‑time tracking and notifications. Kora also provides smart recommendations, such as optimal sending times based on rate movements, and rewards users with Amazon gift‑card credits for completed transfers. The service supports multiple corridors, including Africa, Mexico, Europe, and the UK, and adheres to bank‑level encryption and regulatory compliance.
Target Audience
Primary customers are diaspora individuals and frequent remitters who need fast, low‑cost transfers to family and friends in Africa, Mexico, Europe, and the United Kingdom.
Features
- Conversational AI interface that processes transfer requests via natural‑language chat (e.g., “Send $200 to Mom”)
- Zero explicit transfer fees; a disclosed 1‑2 % FX margin is applied to the exchange rate
- Real‑time rate lock for 30 minutes and live exchange rates shown in the app
- Instant or near‑instant delivery for supported corridors, with live tracking and push notifications
- Amazon gift‑card rewards program for completed transfers
- Bank‑level encryption, identity verification, and compliance across all corridors
- Coverage of popular corridors such as Nigeria, Kenya, South Africa, Uganda, United Kingdom, and Mexico