Yyenza - S/EIS

Redefining the Way Africans Bank, Send, and Spend Across Borders

Shout out to Issah, founder of Passionfruit for the referral with this one

Today, we have a great early stage concept with SEIS available.

Before we jump into this… some announcements….

1. The Shaman List just passed 300 subscribers… love to see it. Please help the community to keep growing and if you’re enjoying the content… share it with anyone interested in the start-up ecosystem. Thanks!
   

2. I’ve just partnered with an old friend of mine, Nico to help startups find office space — if you have any portfolio companies looking for office space and want to put them in touch with a founder-first brokerage, let me know
   

3. Fun fact of the day. I googled the Shaman list the other day… and it looks like I’ve inspired a TV show….. at what point do we acknowledge that we live in a simulation

A Renagade Angel…. truer words were never spoken! Ok, on to todays company…

Yyenza

THE MARKET

Estimated Addressable Market ± Approximately $89 Billion

THE PROBLEM:

40+ million Africans in the diaspora face limited banking access, depending on informal networks for local payments, resorting to cash when returning home, and bearing high remittance costs due to underbanking.

Yyenza: Redefining the Way Africans Bank, Send, and Spend Across Borders

We are on a mission to transform the financial landscape for Africans and the diaspora. Our innovative approach is reshaping banking, payments, and remittances offering:

THE SOLUTION:

Multi-Currency Power: Yyenza provides the first-ever multi-currency account and card featuring African currencies, enabling seamless cross-border transactions.

Pay Later Remittances: We introduce a groundbreaking 'pay later' solution for remittances, easing financial burdens for senders and recipients.

Disruptive, Fee-Free Model: Similar to Robinhood's impact on trading, we're challenging traditional fee structures by offering free remittances.

Launching: January 2024

Product Prototype: https://shorturl.at/EGLU8 

THE TEAM

Ovie: An expert in product, marketing, and growth, known for scaling fintech startups. Recently scaled Verto (B2B cross-border payments) by 27x in just over 2 years.

Seun: A banking and microfinance expert with leadership roles in scaling fintechs Lendigo and Shara across Africa. 

Tunji: A technology solutions architect dedicated to creating robust B2C and B2B financial service solutions at Citi.

INVESTMENT

Pre-seed: $1.25 million (SEIS & EIS eligible)

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