Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


Fintech platform Eversend takes aim at B2C market

Article Image
Ugandan fintech app Eversend is aiming to be a one-stop-shop for cross-border money transfers for Africans in the diaspora. The neo-bank says it serves Africans that are tired of the inconvenience and the expense of traditional financial services.

"Eversend is a one-stop financial services hub that allows consumers to exchange, save, manage and send money at the best possible rates, both online and offline," Eversend co-founder and CEO, Stone Atwine, told Connecting Africa in an interview.

"We exist to bring more Africans into the formal financial market as 66% of Africans are unbanked. As a fintech focused on financial inclusion, we are creating a world where money moves freely to everyone, wherever they are."

Eversend's first business-to-consumer (B2C) mobile application was launched in 2019 even though the company was established in 2017. Atwine said that the idea behind the brand was to connect not only Africans on the continent but those all over the world.

"The idea is that someone from Nairobi can pay a bill in Ghana or send money in New York. The main product we have in the market is cross-boarder money transfers. However, we think we can bring more value to our customers by offering them a lot of financial services in one place," he added.

Market disruption

On top of cross-border transfers, the company offers customers virtual cards that transact in US dollars because he said a lot of Eversend clients use their cards to pay online bills in that currency.

"We have a crypto trading product, and we are working on a stock trading product. We also have real payments where I can sit here in Paris and pay for my grandmother's electricity bill in Uganda," the app’s co-founder said.

He added that most of the time, Africans in the diaspora send money back home and it is misused. Therefore, the app enables them to directly pay for bills where they are, instead of just sending money.

Competitive advantage

Africa has seen many fintech apps that target the mobile money market. One prime example is South African Moya's fintech platform, MoyaPay which has big ambitions to be the most widely used fintech platform in South Africa.

Then there's Safaricom’s mobile money platform M-Pesa, which recently launched a Visa virtual card that allows secure cashless payments at merchant locations in over 200 countries through Visa’s global network.

Atwine said the main thing that makes Eversend different is that the company’s focus is cross-border transactions, which are traditionally difficult and expensive in Africa.

Eversend money app (Source: Eversend).
Eversend money app (Source: Eversend).

"With Eversend, we are trying to create a global B2C platform, where regardless of where you are, you are able to send money to anyone. That is what we do better than anyone else," he added.

Eversend currently operates in five African countries – Uganda, Kenya, Nigeria, Ghana, and Rwanda – and has plans to grow further.

"We are looking into expanding into Europe, the UK and North America. The next step would be to look at francophone Africa and then Southern Africa soon," he concluded.

Related posts:

*Top image is of Eversend co-founder and CEO Stone Atwine (Source:Eversend).

— Matshepo Sehloho, Associate Editor, Connecting Africa

Innovation hub


SA startup Sendoff is digitizing funerals

South African startup Sendoff is a full-service funeral app that is digitizing the way funerals are organized.


SA's Homemation wants smart homes to be seamless

Through its Control4 operating system, South Africa's Homemation highlights that operating smart homes should be a seamless experience.

More Innovation hub

Partner perspectives

5G is lighting up the future of North Africa
By Chris Meng, VP of Huawei Northern Africa Carrier Business Department

The moving target that is telecoms fraud
By Clémentine Fournier, Regional VP Sales, Africa, BICS

How mobile operators in Africa can address signalling threats and secure the network
By Katia Gonzalez, Head of Fraud and Security at BICS

All Partner Perspectives

Latest video

More videos

Guest Perspectives


Omdia View: June 2022

By Omdia Analysts

5G was the major news trend across Africa in June, as Orange became the first operator to launch 5G in Réunion and operators in Senegal accelerated their 5G plans despite spectrum delays.


Omdia View: May 2022

By Omdia Analysts

SpaceX-owned Starlink's plans to launch a satellite broadband service in Africa was a major highlight in May 2022, says Omdia's analysts.

More Guest Perspectives

Upcoming events

Africa Tech Festival
November 7-11, 2022
CTICC, Cape Town
More Upcoming events

Flash poll

All polls

Archived webinars

Africa Green ICT: Lighting Up a Sustainable Continent

The ICT industry is the leading industry in the commitment to carbon neutrality, whose focus has shifted from setting ambitious targets to taking initiatives. The push for zero-carbon and for green energy development, it isn't just about CSR – it's also good for sustainable business.

The path to sustainable development requires green energy. Governments are looking at potential policy approaches to make green energy more widely available and affordable. Without sustainable energy, there will be no digital transformation and no chance of making Africa more economically competitive in the post-pandemic era.

Africa Green ICT Webinar 2022 will bring together ICT industry leaders and senior industrial analysts to provide insight, best practices and key learnings on how to achieve zero-carbon targets and practice green development in Africa.

More Webinars

Sponsored video

More videos

AfricaCom perspectives


Digital inclusion as a catalyst for economic empowerment: Mastercard's Imelda Ngunzu

Mastercard's Imelda Ngunzu talks to Connecting Africa about how digital payment solutions and mobile money are transforming the lives of small business owners, women and marginalized groups in East Africa.


Accelerating women in STEM: In conversation with GirlCode's Tinyiko Simbine

GirlCode co-founder and CFO Tinyiko Simbine talks about why it's important to help girls and young women excel in science, technology, engineering and mathematics (STEM) fields.


How Poa Internet is unlocking meaningful connectivity in East Africa

Poa Internet's CEO Andy Halsall shares his views on what it takes to develop last-mile connectivity and get Africans online in a meaningful way.

More AfricaCom perspectives

Like us on Facebook

Newsletter Sign Up

Sign Up