With the recent news of Grey and Cellulant’s partnership, the efforts of African startups to make financial transactions between countries seamless are increasingly apparent.
Just four months ago, Grey got accepted into Y Combinator’s 2022 winter batch for startups. Same period, it rebranded its identity, changing both its name, interface and logo to serve a much bigger mission.
On the other hand, Cellulant has been on a continuous mission to increase the innovations in making cross-border payments simpler and more decentralized. Through several recent partnerships, the company is gradually achieving its objectives.
In line with this, Grey’s partnership with Cellulant enables its launch in East Africa, spreading its products such as foreign bank accounts, instant currency exchange, and international money transfers, to Kenyans who sign up on Grey.
Kenyans can now get paid in their preferred foreign currency and withdraw directly to M-Pesa or their local bank account. Also, travellers going to Nairobi can convert any supported currency to Kenyan Shillings, pay for services directly to M-Pesa, or withdraw to a local bank account.
Grey offers a unique international money transfer service that enables its users to send and receive international payments without restrictions quickly. Cellulant is the company’s payments processor powering its payouts to thousands of Grey’s customers.
The instant currency exchange service offered by Grey enables its customers to have virtual international bank accounts for free, helping small businesses, freelancers, remote workers, and content creators in Kenya to enjoy a seamless payment process.
The endeavours by African fintech companies are rapidly enhancing the continuously growing digital environment where individuals now get remote jobs to work with countries other than theirs wherever they are. Processes like salary payments and other operations can now become simpler for all.
Grey was founded in 2020 by Idorenyin Obong and Femi Aghedo to make international transactions seamless, starting with Nigeria.
“For us at Grey, it is beyond just building remittance solutions. We sincerely want to enhance the interconnectivity of the evolving gig economy in developing countries; improving how we deal with cross-border remittance is just one way. Our team includes some of the brightest minds from diverse backgrounds working together to build solutions that delight our users,” Grey wrote.