SendSprint, an international payment and remittance startup transfer in the UK with operations in Nigeria, has announced the acquisition of Nobel Financial Inc., a US-based global remittance service provider, to drive its expansion into the United States.
Founded in 2014, Nobel Financial Inc. offers international remittance services from the USA to over 32 countries across Africa, Latin America, Asia, and the Middle East. As well as money, the company also enables users to send in-kind gifts such as bags of rice and other gifts to recipients in Africa. Over the last 10 years, Nobel Financial has helped more than a million customers to transfer funds to recipients all over the world.
With this acquisition, Spendsprint is now able to support money transfers and gifting from customers in 16 US states, including New Jersey, Maryland, Georgia, and more, to recipients in Nigeria, Ghana, Kenya, and other African countries.
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What the acquisition of Nobel Financial mean for users in the US
- Fast, secure, and low-cost transfers into Africa.
- Users can send gifts from over 3,000 retailers operating in Africa including big names like Shoprite, Dapper Monkey, Jumia, and Cake City to loved ones back home.
- Simplified user experience
- Exclusive deals and rewards
- No wallet deposit required
Commenting on Spendsprint expansion to the United States, the company CEO Damisi Busari said,
“The US presents a massive opportunity for us as a company and we are excited to bring our unique blend of people-focused technology solutions and nuanced understanding of Africans in the US market to make this expansion into the US a remarkable success”.
The acquisition of Nobel Financial brings onboard the company’s Chief Compliance Officer, Scott McClain, who will join Sendsprint as Chief Compliance Officer. McClain’s 20 years of experience in the US regulatory environment will be instrumental in ensuring compliance as operations are expanding across more states in the market.
Sendsprint officially launched in July 2022 with a focus on the UK, where it targeted 1.7 million Africans in the diaspora. The payment platform offered a $5 flat transfer fee, as it set out as a cost-effective alternative to traditional remittance services. It operates in the competitive remittance market with established players like Western Union and MoneyGram and new entrants like LemFi and Leatherback.
Since its launch, the startup has partnered with over 3,000 retailers operating in Africa including big companies such as Shoprite, Dapper Monkey, Jumia, and Cake City to make it possible for users to send gift cards to recipients in Africa.
Sendsprint is on a mission to make the diaspora experience of every African personalized, seamless, and convenient. The startup is achieving this by leveraging technology, banking, and partnerships to improve the customer experience of global remittance.