Accrue is a financial platform that enables individuals across Africa to send and receive money internationally, spend online with a virtual USD card, and grow savings in dollars. The platform offers instant cross-border payouts to bank accounts, mobile money services like MoMo and M-Pesa, and a US bank account for ACH payments. It also provides dollar-denominated savings products with daily interest accrual of up to 2% annually.
Funding
Funding not disclosed
Founders
Product
Problem
Cross-border payments within Africa and between Africa and the US are often slow, expensive, and unreliable, with limited access to US banking infrastructure for spending and saving in dollars. Many individuals lack convenient tools to send money to family and friends across different countries, pay for international online services, or earn meaningful returns on their savings.
Solution
Accrue provides a mobile-first financial platform that combines fast, affordable cross-border transfers with US banking and savings capabilities. Users can send money to anyone across Africa with payouts in under five minutes to bank accounts, MoMo, or M-Pesa, and can also send and receive ACH payments through a personal US dollar account. The platform includes a customizable virtual Visa card for secure online spending, plus dollar-denominated savings products that pay interest daily. With a flat fee of $1 per transfer and competitive exchange rates, Accrue simplifies international money movement for a growing user base of over 350,000 people.
Target Audience
Primary users are individuals across Africa—including students, freelancers, gig workers, and professionals—who need to send money internationally, pay for online services, or save in US dollars, as well as diaspora members sending funds to family and friends in African countries.
Features
- Cross-border transfers to 15+ African countries with payout in under 5 minutes to bank accounts, MoMo, or M-Pesa
- US dollar account with ACH send and receive capabilities for seamless US-Africa payments
- Customizable virtual Visa card for secure online shopping at global merchants
- Dollar savings products including a Savings Pocket with daily interest, goal-based savings, group challenges, and a fixed-term Vault earning up to 2% annual interest
- Instant, fee-free transfers between Accrue users via unique Crewtags
- Deposit Links that allow anyone to send money to an Accrue account even without the app
- Flat $1 fee per cross-border transfer with competitive exchange rates