Techstars-Backed Startup, Reeple, Launches Cross-Border Payment Product to Aid Diasporan Africans Send Money at More Affordable Rates

Precious Ugwuzor 

Nigerians living abroad can now send money home to loved ones with greater ease and affordability thanks to the launch of a new cross-border payment product from Reeple, a Techstars-backed startup.

Reeple’s user-friendly web app simplifies money transfers from the US and Canada to Nigeria, offering the best exchange rates in the market and eliminating the often-dreaded hidden fees. This translates to significant savings for diasporan Africans who want to support their families back home.

“We understand the challenges faced by Nigerians abroad who want to send money home securely and efficiently. We also see how hard they work to support their loved ones back home, and believe they don’t have to do this at an exorbitant expense” says Tomi Kolawole, CEO & Co-founder at Reeple. “Our mission is to provide a transparent and cost-effective solution that empowers them to do just that.”

While listing some of the things that make Reeple stand out, the co-founder explained that they prioritize maximizing the value of users’ hard-earned money by offering competitive exchange rates, ensuring more naira reaches loved ones in Nigeria. He also mentioned that Reeple operates with no hidden fees, a secured web app that provides real-time tracking, so customers can follow their money every step of the way.

Reeple’s launch comes at a time of increasing demand for convenient and affordable money transfer solutions. They understand that sending money home is about more than just a financial transaction. It’s about connecting with loved ones and providing vital support.  Their mission is to empower diasporan Africans by simplifying the money transfer process, allowing them to focus on what truly matters –  family and community.

The launch reflects a growing trend in fintech solutions designed to cater to the specific needs of diaspora communities. Their focus on transparency, affordability, and user experience positions them well to disrupt the traditional money transfer market.  

Reeple’s partnership with Chimoney, a global fintech payment infrastructure and API provider, and a Techstars company based in Toronto, Canada, marks a strategic alliance. This collaboration ensures that Reeple’s payment processes are seamless and expansive to eventually meet customers’ needs in regions like Europe and Asia. Additionally, the partnership grants access to African countries, enhancing Reeple’s global reach and impact.

Techstars is a renowned global accelerator program that has fostered the growth of numerous successful startups. With their backing, Reeple has the potential to become a major player in the cross-border payment landscape. For Nigerians living in the US or Canada and looking for a better way to send money home,  www.reeple.ai is definitely worth checking out.