Flutterwave, Africa’s leading payments technology company, has announced the expansion of its Send App service across 49 U.S. states, thanks to a partnership with MainStreet Bank, a subsidiary of MainStreet Bancshares Inc. (Nasdaq: MNSB and MNSBP). This initiative aims to facilitate faster, easier, and more affordable money transfers for Africans in the diaspora sending funds back home.
KEY FEATURES OF THE SEND APP
The Send App offers several beneficial features, including:
- Real-time support and exchange rate updates.
- An activity section that tracks transactions in real time.
- A new voucher and referral code section to enhance user experience.
The service is designed to help users support their families and friends with medical bills, education costs, and living expenses, as remittances to Africa have doubled over the last decade, reaching an estimated $100 billion in 2022 according to the United Nations. This growth highlights the importance of maintaining connections across distances for approximately 200 million Africans.
EXPANSION AND COMMUNITY FOCUS
Since its launch, the Send App has gained trust among the African diaspora, providing a simple and affordable way to send money across the continent. The app’s U.S. coverage now includes all states except Texas.
The U.S. expansion is part of Flutterwave’s commitment to serve African diaspora communities globally with tailored payment solutions. Olugbenga “GB” Agboola, Founder and CEO of Flutterwave, emphasized the synergy between Flutterwave and MainStreet Bank, stating that both organizations prioritize community investment. This partnership reinforces Flutterwave’s dedication to providing secure, compliant, and efficient financial solutions, ensuring customers’ funds and data remain safe.
PARTNERSHIP BENEFITS
Todd Youngren, President of Avenu, a division of MainStreet Bank, expressed enthusiasm about the partnership, highlighting its alignment with Avenu’s embedded banking platform, which integrates compliance and risk management. He noted pride in collaborating with Flutterwave as it expands its Send App service across the U.S.
This strategic partnership is expected to enhance the remittance experience for the African diaspora, supporting their vital contributions to Africa’s economic growth.
