YMoney

What YMoney does

YMoney (legal entity YMO, also branded YMO Africa) is a Paris-headquartered mobile remittance platform founded in 2019 that targets the African diaspora in Europe for cross-border money transfers to Guinea. The company operates a single mobile application through which users send money to any recipient in Guinea using only a phone number, with transfers settling instantly and funds available for immediate cash withdrawal. Beyond remittance, the app supports cashless payments for fuel, taxi rides, and bill payments, and can function with or without internet connectivity.

The underlying technology is a mobile-based electronic money transfer platform keyed on phone numbers, with offline payment interoperability designed for low-connectivity environments. YMoney operates as a licensed electronic money institution authorized by the Banque Centrale de la République de Guinée (license No. D/2022/001/DSIFI/EME/CAM, issued April 14, 2022), with operational offices in both Paris and Conakry. Its distribution backbone is a network of more than 10,000 YMO physical withdrawal points across Guinea, including remote villages, supported by banking partnerships with Ecobank, Vista Bank, Orabank, Access Bank, and United Bank for Africa. The service is reportedly available in 30+ countries and has reached 1,000,000+ users with a 4.9/5 app store rating.

The business model is a zero-fee positioning monetized entirely through foreign exchange spreads. The published customer-facing rate is 1 EUR = 10,300 GNF, and the company captures margin on the difference between its wholesale FX acquisition rate and the rate offered to senders. Go-to-market is product-led growth: self-serve onboarding via Google Play and Apple App Store, a €10 referral incentive per successful referral, and organic social media engagement. The customer base is composed exclusively of individual diaspora senders (micro/consumer), with no enterprise or merchant logos disclosed, making this a long-tail, high-volume, low-touch distribution model.

Name

YMoney

Legal name

YMO

Website

https://ymoney.fr

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

YMoney is a Paris-based mobile remittance platform enabling the African diaspora in Europe to send fee-free money transfers to Guinea via phone number, monetizing through FX spreads and supported by 10,000+ withdrawal points across Guinea.

Ownership category

akta.pro rank

Product category

Cross-Border Money Transfer / Digital Remittance

NAICS

Wireless Telecommunications Carriers (except Satellite) (517112)

akta.pro primary industry

Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD)

akta.pro secondary industry

Consumer Remittances (P2P) (FSAMAIAA)

Keywords

• Mobile money transfer
• Cross-border remittance
• Digital payments
• Foreign exchange services
• Electronic money institution

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Foreign Exchange Spread: Revenue generated through the spread between the exchange rate at which the company buys foreign currency and the rate offered to customers. While transfers have zero fees, the company offers competitive exchange rates (1 EUR = 10,300 GNF) suggesting revenue comes from favorable FX spreads.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

YMoney (operating as YMO) operates a mobile application that enables fee-free international money transfers to Guinea from Europe and other regions. Users send money to recipients in Guinea using just a phone number, with instant transfers and immediate cash availability through 10,000+ physical YMO withdrawal points across Guinea. The service also supports cashless payments for fuel, taxis, and bill payments, functioning with or without internet connectivity.

Product overview

YMO offers a single unified mobile application for fee-free money transfers from Europe and other regions to Guinea. The core product is the YMO Mobile App, which enables users to send money instantly using just a recipient's phone number, pay bills without cash, and withdraw funds from over 10,000 YMO withdrawal points throughout Guinea. The service emphasizes zero sending fees, zero withdrawal fees, and competitive exchange rates (1 EUR = 10,300 GNF).

Differentiator

Problem solved

Functional benefit

Products and services

• YMO Mobile App Mobile application for fee-free money transfers to Guinea. Users can send money to anyone in Guinea using just a phone number, with instant transfer and immediate fund availability. The app also supports cashless payments for fuel, taxi rides, and bill payments, and can be used with or without internet connectivity. Available on Google Play and the Apple App Store.

Quantifiable outcome

• 1 EUR = 10,300 GNF exchange rate offered

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered minor and core.

• EcobankminorOthersBanking partner shown in the partners section of the website.
• Vista BankminorOthersBanking partner shown in the partners section of the website.
• OrabankminorOthersBanking partner shown in the partners section of the website.
• Access BankminorOthersBanking partner shown in the partners section of the website.
• United Bank for AfricaminorOthersBanking partner shown in the partners section of the website.
• Banque Centrale de la République de Guinée (BCRG)coreOthersRegulatory authority that licensed YMO as an electronic money institution (N°D/2022/001 /DSIFI/EME/CAM DU 14 Avril 2022). Authorizes and regulates the company's operations.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• WorldRemit: Global digital remittance platform with deep Africa coverage and direct bank/mobile-wallet payouts. Competes with YMO head-on in the France–Guinea corridor and on the phone-number-based payout UX that YMO emphasizes.
• Sendwave: App-based P2P remittance provider focused on African corridors from Europe and North America. Directly comparable to YMO in target customer (African diaspora), digital-only delivery, and zero/low-fee positioning.
• Wave: Mobile money operator in Francophone West Africa (Senegal, Côte d'Ivoire, Mali, Cameroon). Comparable to YMO in serving unbanked West African users via mobile wallets and in sharing the same diaspora-driven remittance demand from France.
• Remitly: US-headquartered digital remittance app serving diaspora customers across many Africa and Asia corridors. Comparable on app-led, fee-transparent model and on direct competition for diaspora senders in Europe and the UK.

Emerging players

• LemFi: Canada-based remittance app targeting African diaspora with multi-currency wallets and zero-fee promotions. Comparable to YMO on diaspora target segment and on using rate competitiveness to undercut incumbents.
• TapTap Send: Mobile-first remittance app focused on corridors to Africa, Asia, and Latin America with a zero-fee promotional model. Comparable to YMO in targeting smartphone-first diaspora senders and in monetizing via FX spread.

Regional players

• Small World Money Transfer: European-focused remittance specialist with strong presence in France and West African corridors. Comparable to YMO in targeting the European African diaspora, particularly from France, with similar rate-led marketing.

Broad incumbents

• MoneyGram: Global remittance incumbent with strong Africa footprint and digital app. Directly comparable to YMO on the France–Guinea corridor and on app-based versus agent-based cash-out trade-offs.
• Orange Money: Pan-Francophone Africa mobile money service operated by Orange, with deep agent networks in Guinea and neighboring countries. Competes with YMO on cash-in/cash-out infrastructure and on serving unbanked users in West Africa.
• Western Union: Global incumbent in cross-border money transfer with extensive agent network across Guinea. Competes with YMO in the same France–Guinea corridor and on the physical cash-pickup use case that YMO highlights.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

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 YMoney