Sendwave

Sendwave's mission is to make sending money as easy and affordable as sending a text. Our app sends transfers securely from North America and Europe to Africa, Asia, and the Americas at great rates.

High-Level Overview

Sendwave is a mobile-first international remittance company that enables instant, low-cost money transfers primarily from North America, Europe, and Asia to mobile wallets and bank accounts in Africa, Asia, and other emerging markets. It serves millions of users, especially migrant communities, by simplifying cross-border payments with a user-friendly app that makes sending money as easy as sending a text message. The company focuses on reducing fees and transfer times, addressing the critical need for affordable remittances in underserved regions. Since its founding in 2014, Sendwave has expanded rapidly, operating in over 130 countries with thousands of payment corridors, and has evolved from a simple remittance app to offering broader financial services like FDIC-insured bank accounts and debit cards through Sendwave Pay[1][2][3].

Origin Story

Sendwave was founded in 2014 by Drew Durbin and Lincoln Quirk with the mission to simplify and lower the cost of international money transfers. Initially targeting Kenya and Ghana, the founders leveraged the growing adoption of mobile money in Africa to enable direct transfers to mobile wallets. The idea emerged from their passion for creating simple, impactful financial products for migrant communities. Early traction came from grassroots trust-building within diaspora communities through word-of-mouth and local events. The company’s success attracted acquisition by WorldRemit (now Zepz) in 2021 for approximately $445 million, allowing Sendwave to scale globally while maintaining operational independence and its core mission[1][2][3][6].

Core Differentiators

• Product Differentiators: Instant, no-fee or low-fee transfers focused on mobile wallets and bank accounts in emerging markets.
• User Experience: Mobile-first app designed for ease of use, making remittances as simple as sending a text.
• Speed and Pricing: Near-instant transfers with transparent, low-cost pricing that undercuts traditional remittance services.
• Network Strength: Partnerships with over 185 global partners including fintechs, banks, cash agents, and telecom providers.
• Financial Services Expansion: Introduction of Sendwave Pay, offering FDIC-insured bank accounts and debit cards to extend financial inclusion.
• Brand Independence: Operates independently under Zepz, preserving its brand identity and management to focus on its niche markets[1][2][3][6].

Role in the Broader Tech Landscape

Sendwave rides the global trend of digitizing financial services and expanding financial inclusion, especially in emerging markets where traditional banking infrastructure is limited. The timing is critical as mobile money adoption surges in Africa and Asia, and migrant remittances continue to grow, driven by global migration patterns and economic interdependence. Market forces such as increasing smartphone penetration, regulatory support for digital payments, and demand for affordable remittances favor Sendwave’s growth. By integrating banking services with remittances, Sendwave influences the broader fintech ecosystem by pushing the boundaries of what remittance platforms can offer, moving toward comprehensive financial platforms for underserved populations[1][2][3][5].

Quick Take & Future Outlook

Looking ahead, Sendwave is poised to deepen its financial services offerings, expanding Sendwave Pay and forging new partnerships with banks and fintechs to enhance access to banking for migrants and their families. Trends shaping its journey include continued growth in mobile money adoption, regulatory evolution favoring digital cross-border payments, and increasing competition in the remittance space driving innovation. Sendwave’s influence is likely to grow as it helps transform remittances from simple money transfers into gateways for broader financial inclusion, potentially becoming a key player in building cashless economies in Africa and Asia. Its commitment to affordability, speed, and user-centric design will remain central as it scales globally and diversifies its product suite[3][5][6].