The top payments technology business in Africa, Flutterwave, today announced that it has partnered with MainStreet Bank, a division of MainStreet Bancshares Inc. (Nasdaq: MNSB and MNSBP), to expand its Send App service to 49 U.S. states.
Africans living abroad can send money to their relatives and friends back home more quickly, simply, and affordably with the help of the Send App from Flutterwave. Additional important elements of Send App are an activity section that tracks transactions in real-time, real-time support and exchange rate changes, and a new section dedicated to vouchers and referral codes.
According to the UN, remittances to Africa have risen over the past ten years and are expected to reach $100 billion in 2022, helping to pay for the living expenditures, medical bills, and educational expenses of an estimated 200 million Africans. One major factor driving this increase is the significance and necessity of maintaining connections no matter how far apart you are.
Send App, which provides an easy and inexpensive means of sending money to loved ones around Africa, has rapidly established itself as a reliable platform for Africans living abroad since its introduction. With the exception of Texas, 49 states now have Send App available in the United States. Building on its previous success, Flutterwave’s U.S. expansion will reaffirm its dedication to providing the African diaspora with a payment solution that meets their demands on a worldwide scale.
The founder and CEO of Flutterwave, Olugbenga “GB” Agboola, said, “MainStreet Bank is a great fit for Flutterwave’s goal to build bridges that connect Africa to the world because it is a customer-focused, tech-forward community bank that understands and prioritizes investment in communities.”
“Our collaboration with MainStreet Bank demonstrates our commitment to offering safe, legally compliant, and effective financial solutions. This has improved the safety and security of our users’ money and information even further, guaranteeing that Send App will always be a dependable remittance service that brings comfort to Africans living abroad with every dollar they send home. We have a great deal of affection for our diaspora group, and we anticipate that they will be crucial to Africa’s future development.
Avenu is a division of MainStreet Bank, and its president, Todd Youngren, stated that the company’s embedded banking platform, which has fully integrated compliance and risk management, is a perfect fit for the Flutterwave partnership. “We are honored to collaborate with Flutterwave as they spread Send App throughout the United States.”
