Payment startup Sendsprint acquires US-based Nobel Financial enhance remittance services to Africa
Fintech startup Sendsprint has announced the full acquisition of Nobel Financial, a US-based global remittance service provider.
The acquisition will see Sendsprint drive the expansion of its footprint and services to customers in the United States.
Sendsprint will also be able to support money transfers and gifting from customers in 16 US states, including New Jersey, Maryland, Georgia and more, to recipients in Nigeria, Ghana, Kenya and other African countries.
Founded in 2014, Nobel Financial offers international remittance services from the USA to over 32 countries across Africa, Latin America, Asia and the Middle East. As well as money, the company also enables users to send in-kind gifts such as bags of rice and other gifts to recipients in Africa. Over the last 10 years, Nobel Financial has helped more than a million customers to transfer funds to recipients all over the world.
“We see immense value in Nobel Financial, and that was what this acquisition was borne out of. The US presents a massive opportunity for us as a company and we are excited to bring our unique blend of people-focused technology solutions and nuanced understanding of Africans in the US market to make this expansion into the US a remarkable success. ” Damisi Busari, CEO and founder of Sendsprint, said.
Sendsprint specializes in cross-border payment solutions, with operations in the US, UK, Ghana, Kenya, South Africa and Nigeria. Transactions are processed quickly, often within 30 minutes, and are protected by advanced security measures, including two-factor authentication (2FA) and real-time transaction monitoring.
The startup has also partnered with over 3,000 retailers operating in Africa – including big names like Shoprite, Dapper Monkey, Jumia, and Cake City – to make it possible for users to send gift cards to recipients in Africa.
As part of the acquisition, Nobel Financial’s Chief Compliance Officer, Scott McClain, will join the Sendsprint team as Chief Compliance Officer. He joins with other members of his team who will support Sendsprint’s compliance program in the US.
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