About Sendwave
Sendwave focuses on international money transfers, allowing individuals, especially immigrants and expatriates, to send money to countries like Africa, the Philippines, and Haiti quickly and affordably. Users can link their debit cards and send money through a user-friendly app without incurring fees, as Sendwave generates revenue through exchange rate margins instead. The company is licensed in the US, Canada, the UK, and the EU, and offers 24/7 customer support, which has helped it build a trusted reputation with over one million users. The goal of Sendwave is to provide fast, secure, and cost-effective remittance services.
Washington, District of ColumbiaHeadquarters
2017Year Founded
$403.7MTotal Funding
ACQUISITIONCompany Stage
Fintech, Financial ServicesIndustries
201-500Employees
Benefits
Unlimited Paid Time Off
Private Medical Cover
Retirement
Life Assurance
Parental Leave
Remote Work Options
Risks
CFPB scrutiny on remittance providers could impact Sendwave's operations and reputation.
Layoffs at parent company Zepz indicate potential financial instability affecting Sendwave.
Competitive remittance market risks customer churn due to price-conscious consumers.
Differentiation
Sendwave offers fee-free international money transfers, unlike many competitors charging high fees.
The company provides 24/7 customer support, enhancing user trust and satisfaction.
Sendwave Pay offers interest-bearing accounts, a unique feature among remittance providers.
Upsides
Increased digital banking adoption boosts demand for Sendwave's services in emerging markets.
Partnerships with traditional banks can expand Sendwave's service offerings and customer base.
Focus on financial inclusion creates favorable regulatory environments for Sendwave's expansion.
Funding
Total raised$403.69 M
StageACQUISITION
ACQUISITION
7/31/2020$500