Financial inclusion-focused startup AinFin has raised Â£200,000 in a seed funding round.
The capital comes from individual investors.
The company is based out of Londonâ€™s Level 39 fintech accelerator and aims to work with banks to deliver regulated financial services to unbanked populations.
It is preparing to launch its Swifin service in Uganda to support banking services through a partnership with pan-African bank Ecobank.
AinFinâ€™s digital currency platform enables users and businesses to make cross-boarder transactions quickly and without the usual high cost.
Itâ€™s corporate solutions include white-label services designed to allow financial institutions to deliver online banking services to users through branded app or web interfaces as well as more basic SMS messages.
Dr. Linus Etube the company COO and co-founder said, â€œWe aim to see actual transaction levels reach an exponential growth within a few months after roll out.
â€œSwifin is more than just a service that addresses a significant market gap it also offers opportunities for global multi-currency transactions capability.â€
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