Wave Mobile Money

Wave Mobile Money is a financial services startup based in Senegal, with a focus on Fintech. Founded in 2008, Wave is on a mission to revolutionize the financial landscape in Africa, operating in Senegal, Cote d'Ivoire, Uganda, Burkina Faso, Gambia, and Mali. Wave's slogan, "Wave is building a cashless Africa," aligns with its core objective of making Africa the first cashless continent. The company addresses the significant issue of financial exclusion in sub-Saharan Africa, where nearly 60% of adults lack a bank account due to high fees, limited access to branches, and a lack of card acceptance. Wave's solution includes no account fees, instant availability of financial services, and widespread acceptance. Despite challenges such as unreliable infrastructure, Wave launched a mobile app in Senegal in November 2017, enabling cash deposit, withdrawal, peer-to-peer, and business payments. The expansion to Cote D'Ivoire in 2019 further strengthened its presence. Wave's recent achievement includes a €90.00M debt financing investment in July 6, 2022, led by a consortium of prominent investors including International Finance Corporation, OP Finnfund Global, Pario Ventures, Lendable, BlueOrchard Finance S A, responsAbility Investments, Norfund, and Symbiotics Group. With millions of users and rapid growth, Wave Mobile Money is dedicated to driving financial inclusion and shaping Africa into the first cashless continent.