This archive report was first published on 29 August 2019.
On August 29, 2019, SympliFi, a UK-based fintech, launched a gifting-based remittance service to enable residents in the diaspora fund entrepreneurship, education, savings, and healthcare of their friends and family in Africa easily.
This innovative service, similar to Kenya's Mama Mikes, egiftAfrica, and Sure Gifts, goes beyond the traditional remittance/money transfer model and helps users save money on transactions and foreign exchange unlike traditional methods.
According to Maurice Iwunze, co-founder of SympliFi, "We are excited to launch SympliFi as we believe it is time to reimagine how diaspora provide financial support to family in their home country, by leveraging technology in a more effective and sustainable way. Our solution unlocks borders and creates financial bridges between diaspora and their home countries, in a way that does not exist today."
Gregoire Lecomte, co-founder of SympliFi, added, "Our platform will enable us to offer diaspora a suite of financial solutions that enable long-term access to business loans, education financing, electricity, healthcare, insurance, and more."
SympliFi's first partnership was with Zimbabwe's Educate, an education finance platform, in a deal that will enable Zimbabweans based in the United Kingdom to fund education of their family in Zimbabwe without incurring extra costs.
With operations in Zimbabwe, Nigeria, and Tanzania, SympliFi will be adding new countries and lending partners across Africa and other regions of the globe.
