The story of TapTap Send launched less than four years ago started from a sad observation: the flow of money sent by the diaspora to Africa is important ($44 billion in 2019), but costly in terms of fees when they transited through traditional Western operators. It is to help lower prices and facilitate access to African populations that the application was developed for.
The ambition is noble, the option courageous enough to attract the support of Fatimatou Ousmanou. Thus, she joined the prestigious team composed notably of former Yahoo and Google users. Very quickly, the Fintech solution that allows members of the African and Asian diasporas living in Europe to easily send money to their countries of origin at a reduced cost interests users. Co-founder of TapTap Send Cameroon and piloting ongoing launches in other countries such as the DRC and Madagascar, Fatimatou is now one of 70 members working to make life easier for Africans.
Read more about the democratization of the financial sector in Africa and how the TapTapSend app plans to be a part of it, with the Born2Invest mobile app. Our companion app brings you the latest economic news in the world so you don’t miss anything.
A technology within everyone’s reach
It is a very easy to use solution, 100% online. Sending money through the application is like sending money through Whatsapp or SMS. It is connected with mobile wallets in Africa. It is inserted in the daily life of the population with a special emphasis on security since transactions are made by bank card at the time of sending and the bank’s security system redirects you to your banking application.
That’s what explains us, as she was also coordinator of the Orange Prize for Social Entrepreneurship in Africa and the Middle East before working for the Bond’Innov association. Fatimatou Ousmanou is responsible for communication, networks and partnerships with a focus on Africa and the diasporas. She teaches project and innovation management in Africa at Sciences Po Paris and at a 3A business school in Paris. Her ambition, on the front of the democratization of access to digital financial services, is to fully play her role. TapTap Send, which has more than 100,000 users per month, in addition to having moved hundreds of millions of dollars in volumes, also works with Face ID technology.
Major fundraising to accelerate the development of the company
With reduced costs to boost volumes, the application works with many money transfer operators on the continent such as MTN Money and Orange Money. This business model has finally convinced investors with a lot of good fundraising, but the co-founder of TapTap Send Cameroon is not very chatty about it.
“Send more, spend less” with the best rate every time has become the slogan of the team whose solution is present in nine African countries (Cameroon, Ghana, Ivory Coast, Madagascar, Zambia, Kenya and Senegal). With the promise that no one will be forced to pay unreasonable fees, TapTap Send intends to revolutionize the sector in Africa.
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First published in Financial Afrik, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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