Eversend
Eversend is a Paris-headquartered mobile fintech that runs a multi-currency e-wallet app offering cross-border money transfer, currency exchange, USD virtual cards, and USD/EUR virtual accounts to African consumers, the African diaspora, and small businesses across 8+ African countries and European corridors.
- Company typePrivate
- Founded2018
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What Eversend does
Eversend is a Paris-headquartered mobile fintech that operates a multi-currency e-wallet application targeted at African consumers, the African diaspora, and small businesses executing cross-border transactions. Founded around 2018 by Stone Atwine and Emma Smith and operating through three legal entities (Eversend Tech Limited in England and Wales, Cogni Labs Ltd in Uganda, and Cogni Systems Limited in Nigeria/Kenya), Eversend serves users in at least eight African countries (Uganda, Kenya, Nigeria, Ghana, Rwanda, Tanzania, Cameroon, Côte d'Ivoire) plus European corridors, with the mobile app distributed via Apple App Store and Google Play. The platform is positioned as 10x cheaper and faster than traditional bank wires that route via New York correspondent banks.
Eversend's core product is a mobile multi-currency wallet that holds balances in up to 8 currencies (USD, EUR, GBP, NGN, GHS, KES, RWF, UGX) and layers four primary modules on top: cross-border money transfer (Eversend-to-Eversend, to mobile money, to bank), currency exchange at transparent FX rates, USD virtual debit cards issued via Visa rails, and USD/EUR virtual bank accounts with IBAN, ACH, and SEPA support. Underlying technology includes card tokenization for security and PCI-DSS compliance, Braintree integration for payment processing, and explored Stellar-based settlement for low-cost cross-border flows. The Business Banking tier adds a self-serve Business Dashboard (Sole Proprietor and Corporate accounts) and a Business Open API for automated payments, balance retrieval, and card issuance; ancillary modules include the 2020 Donations feature and a 2022 brand refresh.
Eversend monetizes primarily through FX spreads of 2-3.5%, a $1 monthly card maintenance fee on its USD virtual debit card, and transaction fees on its Business accounts, with third-party wallet top-up fees largely passed through to partners. Go-to-market is product-led and self-serve — users download the app, complete in-app KYC, and begin transacting — supplemented by a strong PR-and-events engine (Slush 100 win, Techstars Berlin, Google Launchpad Africa, Station F, Ecobank Fintech Challenge finalist) and a content-led blog. The company claims 1,000,000+ customers, 35% month-on-month user growth in 2019, and 7 transactions per active user per month. Cumulative disclosed funding across multiple accelerator rounds and a 2020 crowdfunding campaign is roughly $1.5M, with no revenue or GMV figure publicly disclosed.
Eversend firmographics
Firmographics- Name
- Eversend
- Legal name
- Eversend Tech Limited
- Website
- https://eversend.co
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Eversend is a Paris-headquartered mobile fintech that runs a multi-currency e-wallet app offering cross-border money transfer, currency exchange, USD virtual cards, and USD/EUR virtual accounts to African consumers, the African diaspora, and small businesses across 8+ African countries and European corridors.
- Ownership category
- akta.pro rank
Eversend industry classification
Industry- Product category
- Cross-border Payments
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
- akta.pro secondary industries
- International / Multi-Currency Wallets (FSAMAEAL), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE), Crypto Payment Gateways & Checkout APIs (FSADAIAA)
Keywords
Where Eversend is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices5 records
Markets served
Eversend business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Supply Chain, Infrastructure
Revenue model
- Currency exchange spread: Revenue earned on the spread when users exchange between currencies. Historical rates cited as 2–3.5% on Eversend.
- Virtual USD card fees: Card creation/top-up (minimum $1 top-up required to create card) plus a recurring monthly card maintenance fee ($1/month) on the USD virtual debit card; $0.5 fee for declined transactions due to insufficient funds.
- Payment and FX fees (Business): Fees disclosed on the Eversend Fees page and deducted from payment/exchange amounts on the Business Dashboard; exchange rate and fees shown before confirmation.
- Third-party wallet top-up pass-through fees: Many user fees are pass-through charges from partners (e.g., mobile money top-ups) — these are 3rd-party costs of doing business but flow through Eversend.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Personal remittance & FX: no sending fees on Eversend-to-Eversend; FX spread ~2–3.5%. |
| Subscription | Monthly | USD Virtual Card: $1 minimum top-up at creation, $1/month maintenance fee from month 2. |
| Transaction based/ take rate | Pay-as-you-go | Business accounts: fees per Business Dashboard/Fees page; exchange rate and fee shown live before each transaction. |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels9 records
Eversend product offering
Product offeringCore offering
Eversend is a multi-currency digital wallet and cross-border payments platform delivered through a consumer mobile app (iOS/Android) and a separate Eversend Business Banking product. The platform combines multi-currency wallets (USD, EUR, GBP, NGN, GHS, KES, RWF, UGX), cross-border money transfer, USD virtual Visa debit cards, USD/EUR virtual bank accounts with IBANs, and an in-app Donations feature for African individuals, the African diaspora, and African small businesses.
Product overview
Eversend operates as a single unified multi-currency mobile application (the Eversend App, marketed as "the financial super app") with a modular product architecture layered on top. The core Eversend App (iOS/Android) is the e-wallet that holds e-money across multiple Eversend Wallets and orchestrates all other offerings. Built into it are several core feature modules: Money Transfer (Send and Receive Money) for cross-border P2P, B2B, and wallet-to-bank transfers; Currency Exchange via multi-currency wallets (USD, EUR, GBP, NGN, GHS, KES, RWF, UGX, etc.); Virtual Debit Cards for online spending; and Virtual Bank Accounts (USD & EUR) that provide IBANs for receiving ACH/SEPA payments. Alongside the consumer app, Eversend offers Eversend Business Banking — a separate Business Account tier with Sole Proprietor and Corporate accounts, bulk payments, merchant services, and an Eversend Business Dashboard. The Business Banking product is paired with the Eversend Business API for payment automation and card management. A lighter add-on, Eversend Donations, enables in-app charitable giving. All products sit under the Eversend Tech Ltd / Cogni Labs Ltd / Cogni Systems Ltd group, serving markets across Uganda, Kenya, Nigeria, Rwanda, Ghana, Cameroon, Côte d'Ivoire, and Europe (send/receive).
Differentiator
Problem solved
Functional benefit
Products and services
- Eversend App (Consumer multi-currency mobile app) All-in-one borderless multi-currency mobile app for individual consumers and the African diaspora. Holds e-money across multiple Eversend Wallets, supports cross-border transfers, currency exchange, virtual USD cards, USD/EUR virtual accounts, and the in-app Donations feature. Distributed via iOS App Store and Google Play, trusted by 1,000,000+ customers.
- Eversend Business Banking Multi-currency business payments platform offering collections, payouts, currency exchange, working capital, bulk payments, and merchant services for sole proprietors and corporates. Includes the Eversend Business Dashboard, Sole Proprietor and Corporate account tiers, and the Business API for automation. Governed by the Eversend Business Terms.
- Eversend Business API Developer-facing API for Eversend Business Accounts that automates payments from a Business Account, displays account balance, issues virtual cards, and accesses card details. Authenticated via an API Key; Authorised Users can also engage in currency exchanges via the Business Open API.
Quantifiable outcome
- Senders/recipients report cross-border transactions are ~7x cheaper than traditional bank wires that route via New York (per company blog).
- +3 more outcomes
Companies that use Eversend
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles3 records
Eversend technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature7 records
Eversend partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered major, core and flagship.
- EcobankmajorEversend was named a finalist in the second annual Ecobank Fintech Challenge, an initiative to engage African fintechs; Ecobank separately announced the 11 finalists including Eversend.
- Slush (Slush 100 competition)majorEversend won the Slush 100 startup competition at Slush 2019 in Helsinki, beating 1,700 startups. Slush's logo is featured on the Eversend homepage "As featured in" section.
- Google Launchpad AfricamajorEversend completed Google's Launchpad Africa program in 2019, building a strong community of founders, startups and Googlers in Lagos, Kigali and other cities.
- Station F (Founder's Program)majorEversend participated in the Station F Founder's Program in Paris, creating an "amazing community of innovators". Station F is where the Paris headquarters is based.
- Fast Track MalmocoreEversend graduated from Fast Track Malmo accelerator in 2019 alongside Techstars Berlin, gaining partners and mentors.
- VisaflagshipVisa accelerator logo is featured on the Eversend homepage footer; Eversend virtual USD debit cards are issued via Visa rails ("our virtual cards are issued in the USA"), implying a Visa issuing/partner bank relationship.
- Banking partners (for Virtual Bank Accounts)flagship"Our virtual bank account service is provided in collaboration with various banking partners, depending on the jurisdiction and currency of your account." USD/EUR virtual accounts are issued via these banking partners with IBAN, ACH and SEPA rails.
- Apple (App Store)coreEversend iOS app "Eversend — neobank for Africa" is distributed via the Apple App Store (apps.apple.com/app/eversend-neobank-for-africa/id1438341192). Apple badge is featured in the website footer.
- Google (Google Play)flagshipEversend Android app is distributed via Google Play (com.eversendapp); the Google Play badge is featured in the website footer. App was #1 in the finance chart in Uganda in 2019.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Eversend competitors and assessment
Company assessmentBroad incumbents
- Remitly: Public-company digital remittance service with strong US-to-Africa corridors. Comparable to Eversend in serving diaspora senders across multiple African destinations via a mobile app.
- M-Pesa (Safaricom / Vodacom): Dominant African mobile-money platform in Kenya, Tanzania and beyond. Comparable to Eversend's mobile money top-up, intra-Africa transfer, and wallet features in overlapping markets (Kenya, Uganda, Tanzania).
- WorldRemit: Established global digital remittance platform with deep African payout coverage (mobile money and bank deposits). Comparable to Eversend on Africa-bound remittances but with much broader global brand and infrastructure.
Direct peers
- Paystack: Nigerian-founded (now Stripe-owned) online payments gateway widely used by African SMBs for collections and payouts. Overlaps with Eversend's Business Banking segment, especially in Nigeria.
- Flutterwave: Pan-African payments infrastructure for businesses, offering collections, payouts, and cross-border APIs. Comparable to Eversend's Business Banking/API offering and competing in the same African B2B payments space.
- NALA: African remittance app focused on the African diaspora sending money to multiple African countries. Direct competitor to Eversend's remittance product with overlapping sender geographies (UK, US, EU) and recipient corridors.
- LemFi: Cross-border payments app for immigrants and diaspora, with strong UK/Canada-to-Africa corridors. Comparable to Eversend in serving diaspora-to-Africa remittances with a mobile-first multi-currency wallet.
- Chipper Cash: Africa-focused cross-border P2P payments app supporting multiple African currencies and corridors. Directly competes with Eversend on intra-African remittances and multi-currency wallets for diaspora and African users.
- Wise (TransferWise): Multi-currency account and cross-border transfer platform with local account details (IBAN/ACH) and a debit card. Comparable to Eversend on multi-currency wallets, FX transparency, and USD/EUR virtual account features — though serving a global, not Africa-focused, customer base.
- Wave: Mobile-money and payments platform operating across Senegal, Côte d'Ivoire, Mali, Burkina Faso, The Gambia, Uganda and others. Comparable in targeting underbanked African consumers with cheap P2P transfers and mobile money top-ups.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Eversend social profiles
Digital presenceEversend financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eversend leadership team
Management profileNumber of profiles
Profiles3 records
Eversend subsidiaries and ownership
Company hierarchySubsidiaries2 records
Eversend funding detail
Funding detailFunding overview
Funding rounds10 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eversend 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 Eversend
What does Eversend do?
Eversend is a multi-currency digital wallet and cross-border payments platform delivered through a consumer mobile app (iOS/Android) and a separate Eversend Business Banking product. The platform combines multi-currency wallets (USD, EUR, GBP, NGN, GHS, KES, RWF, UGX), cross-border money transfer, USD virtual Visa debit cards, USD/EUR virtual bank accounts with IBANs, and an in-app Donations feature for African individuals, the African diaspora, and African small businesses.
Is Eversend a public or private company?
Eversend is a private company. It is classified as venture growth investor backed and is currently operating.
When was Eversend founded?
Eversend was founded in 2018. It employs 1 to 10 people.
Where is Eversend based?
Eversend is headquartered in London, United Kingdom, in the Europe region.
How does Eversend make money?
Four revenue lines are on record. Currency exchange spread is the primary driver. The others are virtual USD card fees, payment and FX fees (Business) and third-party wallet top-up pass-through fees.
Who are Eversend's main competitors?
Broad incumbents on record are Remitly, M-Pesa (Safaricom / Vodacom) and WorldRemit. Direct peers are Paystack, Flutterwave, NALA, LemFi, Chipper Cash, Wise (TransferWise) and Wave.
Does Eversend have an API?
Yes. Eversend Business API facilitates various functions such as automating payments from a Business Account, displaying account balance, issuing virtual cards, and accessing card details. Authentication is via an API Key. Also referenced as the Business Open API which Authorised Users can access for currency exchanges. Business API is part of the Business Dashboard offering.
What industry is Eversend in?
Eversend's product category is Cross-border Payments. Its primary akta.pro industry code is FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services, with a secondary code of FSAMAEAL, International / Multi-Currency Wallets. Its NAICS code is 522320 and its SIC code is 6200.