What Sendwave does

Sendwave is a US-domiciled, mobile-first remittance application founded in 2014, designed to let individuals in North America and Europe send money to recipients across Africa, Asia, Latin America, and the Caribbean. Sendwave is operated as a brand under Zepz (formerly the WorldRemit Group), which acquired Sendwave in 2021; the consolidated Zepz group serves 9+ million users across 130+ countries, while Sendwave alone reports more than 1 million users. Its core product is a smartphone app that supports transfers via debit cards to mobile wallets, bank accounts, and cash-pickup agents, with corridors into 40+ receiving countries. The business is regulated as a money transmitter in multiple US states (including New York, Massachusetts, Rhode Island, and Puerto Rico), registered with FINTRAC and Revenue Quebec in Canada, FCA-authorised in the UK, and authorised as an EU payment institution by the National Bank of Belgium.

Name

Sendwave

Legal name

WorldRemit Corp. DBA Sendwave

Website

https://sendwave.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Sendwave, founded in 2014 and operated by Zepz, is a mobile remittance app that enables diaspora individuals in North America and Europe to send low-cost transfers to recipients in 40+ countries across Africa, Asia, Latin America, and the Caribbean, and in 2025 added a USDC-backed Wallet and a stablecoin-linked Visa card.

Ownership category

akta.pro rank

Product category

Digital Remittance

akta.pro primary industry

Consumer Remittances (P2P) (FSAMAIAA)

akta.pro secondary industries

Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD), Travel Money Cards & Multi-Currency Prepaid (FSAMANAI)

Keywords

• Cross-border remittance
• Digital money transfer
• Mobile remittance app
• Stablecoin payments
• International money transfer

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Exchange Rate Margin: Sendwave earns a small margin on the exchange rate, which is displayed on the app's main page. This margin is the primary revenue driver and applies to all transfers. The exchange rate shown includes a small margin based on the difference between the rate shown in the app and the prevailing market rate.
2. Transfer Fees: Sendwave charges a small transfer fee depending on factors like the currency, amount, and payment method. Some routes (e.g., Philippines, Morocco, Dominican Republic, Brazil from US) are promoted at $0.00 transfer fee as an introductory rate. Fees vary by destination country (e.g., $0.49 for Kenya, $1.49 for Benin, $2.79 for Congo DRC).

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Sendwave is a mobile remittance application that lets individuals send money from North America and Europe to recipients in 40+ countries across Africa, Asia, Latin America, and the Caribbean via mobile wallets, bank accounts, and cash pickup. The platform recently expanded with the Sendwave Wallet, a USDC stablecoin-backed wallet enabling users to send, store, and spend digital dollars globally, plus a stablecoin-linked Visa card issued via Bridge (Stripe-owned infrastructure) for global spending.

Product overview

Sendwave is a digital remittance service owned by Zepz (the global payments group also behind WorldRemit). The core product is the Sendwave App — a mobile remittance application that enables fast, affordable cross-border money transfers from North America and Europe to Africa, Asia, Latin America, and the Caribbean via mobile wallets, bank accounts, and cash pick-up. The portfolio was expanded in October 2025 with the Sendwave Wallet, a stablecoin-backed peer-to-peer cross-border wallet built on Circle (USDC), Solana, and Portal infrastructure, currently available for US senders with plans to expand. In December 2025, Sendwave Wallet gained a Visa debit card powered by Bridge (Stripe-owned), enabling in-wallet USDC balances to be spent globally. These three products — the core remittance app, the Sendwave Wallet, and the Visa card — form a unified money transfer and spending ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• Sendwave App A mobile remittance application enabling users to send money quickly and affordably from select countries in North America and Europe to recipients in Africa, Asia, Latin America, and the Caribbean. Supports transfers funded by debit cards to mobile wallets, bank accounts, and cash pickup locations.
• Sendwave Wallet A USDC stablecoin-backed digital wallet that allows users to send, receive, store, and spend funds with a 1:1 USD peg, protecting against local currency volatility. Built on Circle (USDC), Solana, and Portal infrastructure. Currently available for US senders with planned geographic expansion.
• Sendwave Wallet Visa Card A stablecoin-linked Visa card issued via Bridge (Stripe-owned infrastructure) that enables Sendwave Wallet users to spend their USDC digital-dollar balances at merchants globally that accept Visa. Expansion planned into US, Canada, and Australia markets.

Quantifiable outcome

• Over 1 million users trust Sendwave for international money transfers.
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

15 partnerships are on record, tiered core.

• FireblockscoreTechnology or Integration · 17 December 2025Zepz (parent company of Sendwave) partnered with Fireblocks to leverage its secure treasury and settlement infrastructure for scaling stablecoin-powered remittances to consumers. The integration enables near-instant, lower-cost cross-border payments for Zepz's 9+ million users across 130 countries, reducing FX and intermediary costs while improving speed and transparency. Supported by a Solana Foundation grant.
• Bridge (Stripe-owned)coreTechnology or Integration · 2 December 2025Zepz (parent of Sendwave) launched a stablecoin-linked Visa card for Sendwave Wallet users using Bridge infrastructure (owned by Stripe). The card enables spending of digital-dollar balances globally and represents a key expansion into card payments.
• Circle (USDC)coreTechnology or Integration · 24 October 2025Sendwave Wallet is built on stablecoin infrastructure from Circle, leveraging USDC for secure, digital dollar transfers. USDC provides the underlying stablecoin rails enabling 1 digital dollar = 1 USD with no exchange rate volatility for Sendwave Wallet users.
• SolanacoreTechnology or Integration · 24 October 2025Sendwave Wallet leverages Solana blockchain infrastructure as part of its stablecoin-backed cross-border money transfer solution. The Solana Foundation also provided a grant to support the stablecoin remittance adoption initiative.
• PortalcoreTechnology or Integration · 24 October 2025Sendwave Wallet is built on stablecoin infrastructure from Portal, complementing Circle (USDC) and Solana as the underlying technology stack for the wallet's cross-border transfer capabilities.
• Safaricom M-PesacoreTechnology or IntegrationM-Pesa (Safaricom) is a primary mobile money partner for Kenya and DRC corridors. Sendwave transfers funds directly to M-Pesa wallets, enabling instant mobile money top-ups for recipients. M-Pesa limits apply (max 250,000 Ksh per transfer, max 500,000 Ksh per account).
• MTN MoMocoreTechnology or IntegrationMTN Mobile Money is a key partner for delivering remittances to Benin, Cameroon, and Ghana. Sendwave integrates with MTN MoMo's international transfer access API for mobile wallet top-ups.
• Wave (Mobile Money)coreTechnology or IntegrationWave mobile money is the preferred payout partner in Senegal and Côte d'Ivoire, where Wave agents allow recipients to collect cash with ID and transaction code.
• bKashcoreTechnology or IntegrationbKash is the primary mobile money partner for Bangladesh corridor, enabling direct transfers to bKash wallets. bKash wallet limit is 150,000 BDT at one time, which may affect large transfers.
• Orange (Mobile Money)coreTechnology or IntegrationOrange mobile money is a payout partner for Cameroon, Côte d'Ivoire, and Congo Brazzaville. Daily and monthly transaction limits apply (Cameroon: 2,500,000 CFA/day for Orange wallets).
• PIX (Brazil Instant Payment)coreTechnology or IntegrationPIX is Brazil's instant payment system used by Sendwave for near-real-time transfers to Brazilian recipients. To transfer, users enter the recipient's full name, CPF, and PIX key. PIX transfers do not incur SMS notifications.
• Metrobank (Philippines)coreChannel Partner/ Reseller/ DistributorMetrobank is a cash pickup partner in the Philippines with a maximum transaction limit of PHP 500,000. Recipients show proof of ID and transaction reference number at any Metrobank branch.
• LBC Express (Philippines)coreChannel Partner/ Reseller/ DistributorLBC Express is a cash pickup partner in the Philippines with a maximum transaction limit of PHP 100,000. Recipients collect cash with proof of ID and transaction reference number.
• Caribe Express (Dominican Republic)coreChannel Partner/ Reseller/ DistributorCaribe Express is the primary cash pickup partner in the Dominican Republic with over 170 branch locations. Recipients collect cash within minutes with proof of ID and voucher code.
• Access Bank, Zenith Bank, Fidelity Bank (Nigeria)coreChannel Partner/ Reseller/ DistributorSendwave sends to Access, Zenith, and Fidelity Bank in Nigeria for cash pickup. Recipients receive a voucher code and password via SMS to collect funds at bank branches. Note: USD currency remittances are no longer permitted by the Nigeria Central Bank; only Naira transfers are supported.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• NALA (formerly Beam): Africa-focused digital remittance app with mobile-first transfers from the UK, US, and EU to multiple African countries. Directly competes with Sendwave on the UK-to-Africa and US-to-Africa corridors with a similar mobile UX and value proposition.
• Chipper Cash: Africa-focused cross-border payments app enabling transfers within and into Africa. Overlaps with Sendwave on African receiving corridors and competes for the same mobile money and diaspora sender segments.
• Revolut: UK-based digital banking super-app with multi-currency accounts and peer-to-peer transfers. Increasingly competes with Sendwave on European sender corridors and is building out remittance and card products targeted at similar diaspora segments.
• Cash App (Block): US consumer finance app with peer-to-peer transfers and a growing international remit feature. Targets a similar US-based mobile-first sender base, particularly Hispanic/Latin diaspora corridors where Sendwave also competes.

Broad incumbents

• Western Union: Largest global incumbent in cross-border money transfer with a massive agent network. Competes with Sendwave in many of the same receiving countries but relies on cash pickup and legacy rails, with a slower digital transformation.
• PayPal/Xoom: PayPal\'s cross-border transfer service (Xoom) competes with Sendwave on US sender-to-Latin America and global corridors. As a much larger incumbent, PayPal brings brand and balance-sheet advantages but a less specialized mobile-first remittance experience.
• MoneyGram: Global cross-border payments and money transfer incumbent with a large cash pickup network and growing digital app. Operates in many of the same corridors as Sendwave, both as a competitor for retail transfers and as a potential B2B settlement partner.
• WorldRemit: Zepz\'s flagship cross-border money transfer brand and Sendwave\'s sister company. Operates a broader portfolio across more corridors, partner types, and geographies; Sendwave is positioned as the mobile-first, lower-cost sibling targeting Africa and select corridors.

Direct peers

• Remitly: US-listed digital remittance app serving diaspora senders in North America and Europe with mobile-first transfers to Latin America, Africa, and Asia. Directly competes with Sendwave on price-sensitive corridors, similar mobile UX, and overlapping payout rails.
• Wise (TransferWise): Global money transfer and multi-currency account platform offering near-mid-market FX rates for consumers and businesses. Competes with Sendwave on cross-border transfers to many of the same receiving markets and has trained consumers to expect transparent pricing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/sendwaveapp
• YouTubeyoutube.com/@Sendwave
• Facebookfacebook.com/sendwave
• LinkedInlinkedin.com/company/wavemoney
• Instagraminstagram.com/sendwaveapp

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sendwave