Accrue
Accrue is a US-Delaware-incorporated fintech offering cross-border payments, virtual USD bank accounts and cards, and dollar savings to African diaspora and Gen-Z users across 15+ African countries and the US, powered by stablecoin rails and a peer-to-peer agent network.
- Company typePrivate
- Founded2022
- HeadquartersDover, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Accrue does
Accrue (legal entity Accrue Wealth Inc.) is a Delaware-incorporated fintech operating across Africa and the United States, with offices in Dover (Delaware), Accra (Ghana), and Lagos (Nigeria). The company provides cross-border payments, virtual USD banking, savings, and investment products targeting African diaspora, global earners, and digitally native Gen-Z users across 15+ African countries plus the US. Accrue is led by CEO Clinton Mbah alongside co-founders Adesuwa Omoruyi and Zino Asamaige.
The platform is built on stablecoin-based settlement infrastructure using USDT and USDC for currency conversion, combined with a peer-to-peer agent network (Cashramp) that enables fiat on/off ramps via local bank transfers and mobile money (MoMo, M-Pesa) across 11 African countries. Core products include instant cross-border transfers (sub-5-minute payouts), a virtual US bank account with ACH receipt, a virtual Visa USD card for online purchases, dollar savings earning up to 2% p.a., and stock/crypto investment features. Distribution is multi-channel: iOS mobile app for self-serve, Cashramp agents for cash-in/cash-out, a Campus Ambassador Program for grassroots acquisition, and a Bluefin partnership for enterprise embedded wallet and loyalty solutions.
Revenue is generated primarily through a flat $1.00 per-transaction fee on USD transfers (with corridor-specific fees for African destinations), spreads on currency conversion, yield retained from dollar savings deposits deployed in yield-generating strategies, and interchange from virtual card usage. Enterprise licensing through the Bluefin partnership adds a B2B SaaS revenue stream. Accrue is regulated as a Money Services Business in Canada (FINTRAC), holds an FSP license from South Africa's FSCA, and is registered with corporate authorities in Nigeria and Ghana. The company has raised $1.58 million in seed funding (Lattice Fund lead, with Maven 11, Lava VC, and Alliance DAO) and reports 350,000-450,000+ users.
Accrue firmographics
Firmographics- Name
- Accrue
- Legal name
- Accrue Wealth Inc.
- Website
- https://useaccrue.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Accrue is a US-Delaware-incorporated fintech offering cross-border payments, virtual USD bank accounts and cards, and dollar savings to African diaspora and Gen-Z users across 15+ African countries and the US, powered by stablecoin rails and a peer-to-peer agent network.
- Ownership category
- akta.pro rank
Accrue industry classification
Industry- Product category
- Cross-Border Payments
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)
Keywords
Where Accrue is headquartered
LocationHeadquarters
- HQ city
- Dover
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Accrue business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Transaction Fees: Flat fee of $1.00 per USD transaction. Fees vary by corridor for African country transfers. Revenue generated from spread on currency conversions and transfer fees.
- Savings Interest: Users earn up to 2% p.a. on dollar savings. Accrue generates revenue by deploying user deposits in yield-generating strategies.
- Investment Services: Users can invest in stocks and cryptocurrencies. Revenue may come from transaction fees on buying/selling assets.
- Virtual Card Services: Free virtual card provided. Revenue opportunity through transaction volume and interchange fees when cards are used.
- Enterprise Solutions: Embeddable wallet and loyalty solutions for enterprise clients in retail, grocery, and education sectors through Bluefin partnership.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Flat fee per USD transaction |
| Subscription | Monthly | Dollar Savings with up to 2% p.a. |
| Freemium | Pay-as-you-go | Free Virtual USD Card |
| Usage-based | Pay-as-you-go | USD Inflow Happy Hour Discount |
Go-to-market motion4 records
Distribution channels5 records
Marketing channels9 records
Accrue product offering
Product offeringCore offering
Accrue is a mobile-first fintech platform that enables cross-border money transfers between the United States and 15+ African countries using stablecoin-based settlement rails. Its core offering combines a peer-to-peer agent network (Cashramp) for fiat on/off ramps with a consumer mobile app that provides USD bank accounts via ACH, virtual Visa debit cards, dollar savings earning up to 2% annual interest, and investment access to stocks and cryptocurrencies. Accrue Business provides APIs enabling developers and SMEs to collect and pay out in 10+ African currencies.
Product overview
Accrue is a multi-product financial services platform offering cross-border payments, virtual banking, savings, and investment products. The core offering is Cashramp, a peer-to-peer agent network enabling instant money transfers across 15+ African countries and the US. Users can open USD bank accounts, obtain virtual USD cards for online payments, save in dollars earning up to 2% interest, and invest in stocks and cryptocurrencies. Accrue Business provides APIs for developers and SMEs to integrate cross-border payment capabilities. The platform also offers utility tools including currency conversion, tax calculation, and net worth tracking. A recent addition, Accrue Passport, gamifies the transfer experience by awarding digital stamps for sending money to different countries.
Differentiator
Problem solved
Functional benefit
Brands
- Cashramp: A peer-to-peer agent network that enables users to make seamless payments across Africa. Helps people earn up to $150/week with access to stablecoins for payments, savings, and investments.
- Accrue Business
- Accrue Passport
- Detty December
Products and services
- Cashramp (Cross-Border Payments via Agent Network) Peer-to-peer agent network enabling users to deposit and withdraw funds through bank transfers or mobile money (MoMo, M-Pesa) across multiple African countries. Agents facilitate fiat-to-stablecoin conversions and earn commissions on transactions.
- Cross-Border Money Transfers Service enabling individuals to send and receive money across Africa and the US in minutes, covering Nigeria, Ghana, Kenya, South Africa, Cameroon, Cote d'Ivoire, Benin, Sierra Leone, Uganda, Tanzania, Rwanda, Zambia, Malawi, Botswana, and DR Congo.
- USD Bank Account Virtual US bank account feature that enables users to receive USD payments via ACH and withdraw USD directly to their bank or MoMo account, giving Africans a US bank account without US residency.
- Virtual USD Card Free instant virtual dollar Visa card for international online payments, requestable within minutes and usable globally wherever Visa is accepted.
- Dollar Savings Savings product allowing users to save in digital dollars and earn up to 2% annual interest via Savings Pocket (no lock-up), Goals, Challenges, and Vault (fixed-term) options.
- Investments Investment feature that allows users to invest in stocks and cryptocurrencies with manual buy and auto-buy functionality.
- Accrue Business (Cross-Border Payment APIs) API platform for developers and SMEs to collect and pay out in 10+ African currencies instantly, exposing cross-border payment, virtual card, savings, and investment services programmatically.
Quantifiable outcome
- Payout in under 5 minutes to any bank, MoMo or M-Pesa
- +4 more outcomes
Companies that use Accrue
Customer profileNamed customers5 records
Segments6 records
Ideal customer profiles4 records
Accrue technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Accrue partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- BluefincoreBluefin, a global payment and data security infrastructure provider, partnered with Accrue to offer embeddable wallet and loyalty solutions. Bluefin provides secure payment infrastructure including gateway, ACH, and check solutions. The partnership targets retail, grocery, and education sectors, aiming to help organizations reduce payment costs, drive repeat customer visits, and consolidate vendors.
Scale indicators7 records
Recent moves6 records
Expansion highlights7 records
Accrue competitors and assessment
Company assessmentBroad incumbents
- Wise (TransferWise): Global multi-currency account and remittance platform. A direct competitor for the USD bank account and cross-border transfer use cases, especially for users sending from the US to Africa.
- Remitly: Large, publicly-traded remittance company serving African and other emerging-market corridors. Competes with Accrue for diaspora senders but at much larger scale and broader geographic reach.
Direct peers
- Bitnob: Provides stablecoin-powered cross-border payments, virtual dollar cards, and USD savings to African users. Direct overlap with Accrue's product suite (USD account, virtual card, dollar savings, remittance).
- Chipper Cash: Africa-focused P2P and cross-border payments app serving diaspora and intra-Africa remittance use cases. Closely comparable to Accrue in target customer, mobile-first UX, and multi-country African coverage.
- NALA: Africa-focused remittance app enabling diaspora users to send money to mobile money and bank accounts across multiple African countries. Comparable target user (diaspora) and corridor approach.
- LemFi: Mobile app for African immigrants to send money home and manage multi-currency accounts. Directly comparable to Accrue in remittance focus, multi-currency wallets, and diaspora/Gen-Z customer base.
- Yellow Card: Pan-African stablecoin-based payments and on/off-ramp platform. Highly comparable to Accrue's Cashramp agent network and stablecoin settlement approach for cross-border African flows.
- Wave (SendWave): Mobile-first money transfer service with strong presence across East and West Africa. Direct competitor in the same intra-African remittance corridors Accrue serves.
Others
- Onafriq (formerly MFS Africa): Pan-African payment infrastructure and remittance hub connecting mobile money operators, banks, and fintechs. Comparable as a connectivity layer for African cross-border flows rather than a direct end-user competitor.
Emerging players
- Noah (formerly Bitmama): Africa-focused fintech offering stablecoin-based payments, virtual cards, and business APIs. Comparable technology stack and emerging-market remittance focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Accrue social profiles
Digital presenceAccrue compliance and trust
Trust signalCompliance3 records
Accrue financial estimates
Financial estimateRevenue estimate
Valuation estimate
Accrue leadership team
Management profileNumber of profiles
Profiles3 records
Accrue funding detail
Funding detailFunding overview
Funding rounds1 record
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Accrue M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Accrue
What does Accrue do?
Accrue is a mobile-first fintech platform that enables cross-border money transfers between the United States and 15+ African countries using stablecoin-based settlement rails. Its core offering combines a peer-to-peer agent network (Cashramp) for fiat on/off ramps with a consumer mobile app that provides USD bank accounts via ACH, virtual Visa debit cards, dollar savings earning up to 2% annual interest, and investment access to stocks and cryptocurrencies. Accrue Business provides APIs enabling developers and SMEs to collect and pay out in 10+ African currencies.
Is Accrue a public or private company?
Accrue is a private company. It is classified as venture growth investor backed and is currently operating.
When was Accrue founded?
Accrue was founded in 2022. It employs 11 to 50 people.
Where is Accrue based?
Accrue is headquartered in Dover, United States, in the North America region.
How does Accrue make money?
Five revenue lines are on record. Transaction Fees are the primary driver. The others are savings Interest, investment Services, virtual Card Services and enterprise Solutions.
Who are Accrue's main competitors?
Broad incumbents on record are Wise (TransferWise) and Remitly. Direct peers are Bitnob, Chipper Cash, NALA, LemFi, Yellow Card and Wave (SendWave). Onafriq (formerly MFS Africa) is listed as an others. Noah (formerly Bitmama) is listed as an emerging player.
Does Accrue have an API?
Yes. Accrue Business APIs enable developers and SMEs to collect and pay out in 10+ African currencies instantly. The API supports cross-border payment services, virtual USD card services, savings and interest accounts, and investment opportunities. Developer documentation is at business.useaccrue.com.
What industry is Accrue in?
Accrue's product category is Cross-Border Payments. Its primary akta.pro industry code is FSAMAFAB, A2A Payment Initiation Service Providers (PISPs), with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 52232 and its SIC code is 6199.