Afriex updates 04/22/2020
Hello and thanks for continuing to support Afriex. Before diving into company metrics, I want to mention that our thoughts and prayers are with those you are suffering from this current health crisis around the world. I hope you and your families are well. As global citizens we feel it is our responsibility to step up and be present when things like this happen, so Afriex has been working with organizations and sponsors who want to send money to Africa to offset the economic hardships of this time. If you’d like to learn more about this initiative feel free to reach out to me directly.
Despite the global pandemic, over the past month Afriex has experienced strong growth which has allowed us to learn a lot about our user base and their needs. Approximately 80% of our transactions are US to Nigeria payments, 15% are crypto purchases in Nigeria and 5% are Nigeria to US payments. We’re very optimistic about each segment and will continue to keep an eye on each of these as we expand into new countries later this year.
Operationally we’re investing heavily in our back-end collection and delivery system to create the best and easiest cross-border payment experience ever.
KPIs
- Users: we’ve grown from 300 to over 2300 users
- Volume: transaction volume has increased from $80,000 to about $135,000/month
Product
- We’ve added search by $username to make it easy to pay someone without knowing their phone number
- We’ve added send directly to bank account
- We’ve simplified the UI with fewer menu options for a streamlined experience
Asks
- Liquidity: we’d love to chat with payment experts about how we’re currently thinking about liquidity, funding partners, etc
- Growth: we’re looking for a marketing intern to help execute on our growth strategy. If you know someone that might be a good fit please reach out to me.
Let’s Talk
Tope Alabi (CoFounder & CEO): @topealabi_ // tope@afriex.co
Team: hello@afriex.co