Mobi-Remit

An Online Cross-border Money Transfer Platform

Convertible Note   KE FinTech Angel
Expired

$41,150
82% of the goal raised

19
Investors

$50,000
Target

25%
Discount

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Highlights

  • Created a prototype
  • Piloted the product or service
  • Secured paying customers
  • Secured external funding in 2021
  • Feb 2022- The venture is a legal registered entity.

Convertible Note
Financial Instrument

$10
Minimum investment

$1,000,000
Valuation cap

July 12th, 2024
Deadline

Pitch

Mobi-Remit is a financial technology platform that facilitates cross-border transfer of funds globally

The platform debits the user’s card or bank account & instantly credits their recipient’s mobile wallet or bank account; earning a transactional fee.

PROBLEM
Legacy remittance systems are:

Inconvenient
• The sender has to physically visit an agent or bank location to manually deposit or release the transfer funds.
• The sender may have to tediously fill-up the paper forms every time they need to make transfers.
• The recipient may need to go to a payout location to receive the funds.

Time-consuming
• The turnaround time for the money transfer cycle; from transfer intention to fund-delivery is long.

Limited service availability
• Service usually only available during ‘normal working hours’ . i. e. 9 to 5.

SOLUTION
- Time-saving : Instant transfers

- Fully-automated transfer process

- Convinient : Sending and receiving funds can be done from the convenience of one’s phone or computer, anywhere and at anytime (24/7).

BUSINESS MODEL

The platform debits the user’s card or bank account & instantly credits their recipient’s mobile wallet or bank account; earning a transactional fee.

MARKET SIZE
$ 615 Billion

TRACTION
Jan 2018
-First created a prototype

-First piloted the product or service

-Secured first paying customer

Jan 2021
Secured external funding
The venture has secured funding from a third party.

Feb 2022
Incorporate the venture
The venture is a legal registered entity.

Jun 2022
First created a pitch deck
There is a pitch deck explaining the venture.

LONG TERM GOALS
Achieve global borderless transactions that happen in real-time regardless of the user's geographical location.

USE OF FUNDS

- Pre-funding of the payout float account : USD 100, 000

- Marketing costs (customer acquisition) : USD 100, 000

- Operational costs : USD 50, 000

Overview

Team



Mark Mutahi
CEO

Mark Mutahi Solutions Architect MBA (Ongoing) - USIU Bsc. Computer Science Cisco Certified Network Associate Full Stack Developer Over 10 years experience in software development



Edith Mumbi
Business Development

BUSINESS DEVELOPMENT MBA (Marketing). Bachelor of Commerce.

Documents
Company documents

Pitch deck
Brand guide
Legal
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