Eversend

Market position

Positioned as a cross-border account and underlying payment rails for Africa-connected money movement, serving both retail users and businesses while also supplying infrastructure to other fintechs. Reported scale includes 1.6M registered users, $1B+ processed, 30,000+ business customers, 18 payout markets and 16 currencies; app ratings cited are 4.2 on the App Store, 4.0 on Google Play and 4.4 on Trustpilot.

The company emphasises vertical integration - owning licences, liquidity, local rails, card issuing, compliance, stablecoin settlement and APIs - rather than renting third-party infrastructure. It highlights coverage of corridors other providers avoid, including sending from local African currencies to the US, UK and Europe, upfront all-in pricing with the rate shown before sending, and settlement in minutes (a cited median of 57 seconds to a Nigerian bank and roughly 3 minutes for business payouts) against 2-5 days for correspondent banking.

Technology

Mobile applications on iOS and Android backed by a cloud-based platform. Eversend states it connects directly into local payment systems rather than routing through correspondent banks, uses stablecoin-powered liquidity (USDC and USDT) for around-the-clock settlement, and exposes the same infrastructure to third parties through APIs. Digital assets are secured with Fireblocks; the company cites 256-bit encryption, two-factor authentication, role-based access, and safeguarded, segregated customer funds.

Go-to-market

Direct-to-consumer distribution through iOS and Android apps, a self-serve business account with a "talk to sales" motion for higher volumes, and an API/platform channel through which other fintechs build on Eversend's rails. Early growth was supported by accelerator programmes including Techstars, the Visa Accelerator, Google for Startups (Google Launchpad Africa), CATAPULT: Inclusion Africa, the Westerwelle Young Founders Program and the Ecobank Fintech Challenge, alongside a Seedrs crowdfunding campaign that converted users into shareholders.

African diaspora, freelancers and remote workers paid by overseas clients, students abroad, travellers and savers; and businesses including importers and traders, exporters and global sellers, ad and creative agencies, travel and hospitality operators, online sellers and startups. A platform tier targets other fintechs that embed payouts, collections and FX via API.

Geography

Headquartered historically in Paris with offices listed in London (Level39, One Canada Square), New York (447 Broadway), Kampala (Plot 4 Kyadondo Road, Trust Tower) and Lagos (22 Glover Road, Ikoyi). Most staff are based in Kampala, with colleagues in London, Paris, Nairobi, Lagos, Accra, Luanda, Yaoundé and Kigali. Customers span 57 countries; payouts reach 18 countries across currencies including NGN, KES, UGX, GHS, TZS, ZAR, RWF, XAF, XOF, ETB, USD, EUR and GBP via SWIFT, SEPA, M-Pesa and mobile money.

History

Founded in Paris in August 2017 as a mobile-only, blockchain- and mobile-money-powered banking alternative for African markets. The app launched in March 2019. In November 2019 Eversend won the Slush startup competition in Helsinki against 1,700 companies. In mid-2020 it raised EUR 634,000 (about $706,000) via a Seedrs crowdfunding campaign at a stated pre-round user base of over 40,000 and roughly 30% month-on-month growth. Between 2020 and 2022 it joined Techstars, the Visa Accelerator and Google for Startups and raised from global investors; during 2023-24 it added cards, global accounts, collections and payouts for consumers and businesses. It now describes itself as a rails layer with 1.6M registered users and $1B+ moved.