Wewire Africa provides a platform for businesses to execute cross-border payments through multi-currency wallets, virtual IBAN accounts, and smart invoicing, facilitating transactions in over 80 countries. This service addresses the challenges of high conversion costs, payment delays, and the complexity of managing international transactions, enabling companies to streamline their global financial operations.
Funding
Funding not disclosed
Founders
Product
Problem
Businesses face challenges with high conversion costs, payment delays, and complexities when managing international transactions, hindering smooth global financial operations. Existing cross-border payment solutions often lack efficiency and transparency, creating friction for companies operating in multiple countries.
Solution
Wewire Africa offers a platform designed to streamline cross-border payments through multi-currency wallets, virtual IBAN accounts, and smart invoicing. This enables businesses to execute transactions in over 80 countries, facilitating a global reach with easy access to local and international transfers, corporate FX payments, currency exchange, and payment collections. The platform allows companies to establish a local banking presence in Europe, the UK, and the USA, receive direct payments, cut conversion costs, simplify reconciliation, and reduce payment delays. Wewire Africa empowers businesses to send and receive money globally, create and personalize invoices, and manage expenses efficiently.
Target Audience
The primary target audience includes businesses of all sizes that require efficient and cost-effective cross-border payment solutions to facilitate international trade and financial operations.
Features
- Multi-currency wallets supporting transactions across 80+ countries
- Virtual USD, EUR, and GBP IBAN accounts for establishing a local banking presence
- Smart invoicing for creating and personalizing invoices in any currency
- Ability to send money to international or local accounts and MoMo wallets
- Currency conversion with instant deposits
- Virtual USD cards for expense management, allowing the creation of unlimited expense cards
- OTC desk for transactions over $10 million with access to flexible rates and 24/7 availability