mHITs

What mHITs does

mHITs Limited is a privately held Australian FinTech founded in 2006 and headquartered in Canberra, operating a mobile payment technology platform focused on cross-border remittance and prepaid services for emerging markets. The company's core technology uses USSD and SMS protocols, enabling transactions across all mobile handsets, carriers, and markets without requiring smartphones, data connectivity, or bank accounts — directly addressing the world's 2.5 billion unbanked population. Core products include Rocket Remit (international mobile remittance from Australia and New Zealand to 60+ countries), BuyPower (prepaid electricity vending paid via carrier airtime), and the mHITs Mobile Wallet platform. The company operates a B2B2C model with extensive partnerships with tier-1 mobile network operators and mobile money services including Vodafone, MTN, Airtel, Digicel, bKash, JazzCash, EcoCash, Alipay, and Wing Money, with first-mover positioning in multiple corridors (South Sudan, Cook Islands, Vanuatu, Botswana).

Revenue is generated through transaction fees on remittance corridors (varying by corridor; several major corridors are zero-fee while others charge flat fees), revenue-sharing with carriers on airtime-based electricity vending, and partnerships with mobile money operators. The company has processed over 96 million transactions lifetime across 60+ receiving countries and 25+ African markets, with Easipawa in Papua New Guinea reportedly handling 60% of all prepaid electricity purchases in the country. mHITs has won multiple ACT Chief Ministers Export Awards (2015, 2022, 2024) and operates with a lean team of 7 employees, having never disclosed external funding or acquisition activity. Founder and CEO Harold Dimpel has led the company for nearly two decades, and the firm continues to expand via corridor-by-corridor partnership-led growth rather than large capital deployment.

Name

mHITs

Legal name

mHITs Limited

Website

https://mhitslimited.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Mobile Payment Technology

akta.pro primary industry

Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)

akta.pro secondary industry

Mobile Wallets (NFC Tap-to-Pay / HCE) (FSAMAEAB)

Keywords

• Mobile remittance services
• Mobile payment technology
• Cross-border money transfer
• Prepaid electricity vending
• Mobile wallet platform

Headquarters

HQ city

Canberra City

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. International Mobile Remittance (Rocket Remit): Transaction fees charged for international money transfers from Australia and New Zealand to mobile money accounts in emerging markets. Fees vary by corridor (e.g., zero fees for Pakistan and India, $5 flat fee for Tanzania/Zimbabwe)
2. Prepaid Electricity Vending (BuyPower): Revenue generated from prepaid electricity purchases using carrier airtime. Payment deducted from user's prepaid mobile credit or billed to postpaid account
3. Airtime-based Payments: Mobile payments using carrier airtime credit for various services including electricity purchases, with revenue shared with carriers

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

mHITs is a mobile payment technology company that builds and operates USSD/SMS-based platforms enabling cross-border mobile remittance (Rocket Remit), prepaid electricity vending via carrier airtime (BuyPower), and carrier-independent mobile wallets. The technology works across all mobile handsets, carriers, and markets, providing 100% market addressable size and serving both banked and unbanked populations in emerging markets.

Product overview

mHITs is a mobile payment technology company offering a portfolio of products centered on mobile money and prepaid services. The core offerings include Rocket Remit (cross-border mobile remittance service), BuyPower (prepaid electricity vending via mobile airtime), and the mHITs Mobile Wallet platform. These products leverage USSD and SMS technologies that work across all handsets, carriers, and markets without requiring smartphone apps or internet access. The portfolio includes regional variants (mHITs Australia SMS payment, Easipawa Papua New Guinea, BuyPower Namibia) and specialized modules (mPowa mobile wallet with POS, BitMoby Bitcoin top-up, mPOS integration solution, AccountBalance and TextBal/SaveBal information services). The company serves both banked and unbanked populations, focusing on financial inclusion for emerging markets worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• Rocket Remit: Multi-award-winning international mobile remittance service enabling cross-border money transfers via mobile money
• BuyPower
• mHITs Pay

Products and services

• Rocket Remit Multi-award-winning cross-border mobile remittance service that enables international money transfers from Australia and New Zealand to emerging markets worldwide. Funds transfer instantaneously directly to a recipient's mobile money account using only the recipient's mobile number.
• BuyPower Mobile prepaid electricity vending solution that allows users to purchase prepaid electricity via mobile phone with payment made directly using carrier airtime. Uses USSD and SMS technologies accessible on any mobile phone and can be integrated into electronic or mobile wallet systems.

Quantifiable outcome

• Over 96 million transactions processed worldwide to date
• +4 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

39 partnerships are on record, tiered core and strategic.

• Our Telekom M-Selen (Solomon Islands)coreStrategic or Co-development Partner · 1 June 2026Partnership with Solomon Telekom Company Limited to enable Rocket Remit customers in Australia and New Zealand to make instantaneous, low-cost cross-border remittance transfers to the M-Selen mobile money service in the Solomon Islands. M-Selen is operated by Our Telekom, a joint venture between Solomon Islands National Provident Fund and Investment Corporation of the Solomon Islands.
• Vodafone Samoa (M-Tala)coreStrategic or Co-development Partner · 1 May 2025Partnership with Vodafone Samoa to enable Rocket Remit customers to send money to Vodafone M-Tala Samoa subscribers. With around 20% of GDP in Samoa coming from remittances.
• New Zealand Market LaunchcoreChannel Partner/ Reseller/ Distributor · 1 May 2025Launch of Rocket Remit service in New Zealand, allowing customers to make instantaneous, low-cost cross-border remittance transfers to over 60 countries including Pacific Islands.
• Vodafone FijicoreStrategic or Co-development Partner · 1 May 2023Partnership with Vodafone Fiji to enable cross-border remittance service between Fiji and Vanuatu, allowing instantaneous transfers between Vodafone M-PAiSA Fiji and Vodafone M-Vatu Vanuatu mobile money services. Vodafone Fiji brings approximately FJD 35m in personal remittances into Fiji monthly.
• Vodafone Cook IslandscoreStrategic or Co-development Partner · 1 January 2023Partnership with Vodafone Cook Islands to launch cross border remittance service between Cook Islands and Fiji, allowing instantaneous transfers between Vodafone E-Moni Cook Islands and Vodafone M-PAiSA Fiji mobile money services.
• Vodafone VanuatucoreStrategic or Co-development Partner · 1 January 2023Partnership with Vodafone Vanuatu for cross border remittance service between Vanuatu and Fiji, enabling instantaneous transfers between Vodafone M-Vatu Vanuatu and Vodafone M-PAiSA Fiji.
• UNCDF (United Nations Capital Development Fund)strategicStrategic or Co-development Partner · 1 January 2023UNCDF provided funding and technical assistance under the Pacific Digital Economy Programme to catalyze development of cross-border remittance solutions between Pacific Islands. Programme is jointly implemented by UNCDF, UNDP, and UNCTAD with support from EU and Governments of Australia and New Zealand.
• m-GURUSH South SudancoreStrategic or Co-development Partner · 1 September 2021Partnership with Trinity Technologies Limited (TTL) in partnership with Zain to enable first mobile money remittance service to South Sudan. Rocket Remit is the first service to provide mobile money remittance to South Sudan.
• Vodafone E-Moni Cook IslandscoreStrategic or Co-development Partner · 1 September 2021Partnership to enable Rocket Remit transfers to Vodafone E-Moni in Cook Islands. Rocket Remit is the first service in the world to provide inward remittance to the Vodafone E-Moni service.
• OneMoney and TeleCash ZimbabwecoreStrategic or Co-development Partner · 1 September 2021Partnership to enable Rocket Remit transfers to OneMoney and TeleCash Zimbabwe, achieving 100% mobile money coverage to Zimbabwe with connectivity to all three mobile money providers.
• Alipay ChinacoreStrategic or Co-development Partner · 1 February 2021Partnership with Alipay to enable money transfers directly into Alipay accounts in China. Alipay has over 1 billion account holders and is the most popular e-wallet service in Asia.
• MTN Money Liberia (Lonestar Cell)coreStrategic or Co-development Partner · 1 February 2021Partnership with Lonestar Cell MTN to enable Rocket Remit transfers to MTN Money Liberia. Lonestar Cell MTN is Liberia's largest mobile network serving over 1 million customers with fastest 4G LTE network.
• Orange Money BotswanacoreStrategic or Co-development Partner · 1 December 2020Partnership with Orange Botswana to enable first international money transfer service in Australia to Botswana using mobile money channel.
• JazzCash PakistancoreStrategic or Co-development Partner · 1 November 2020Partnership with JazzCash Pakistan to expand Rocket Remit mobile money transfer service to Pakistan. Jazz has over 63 million subscribers and is the market leader in digital services in Pakistan.
• Wing Money CambodiacoreStrategic or Co-development Partner · 1 November 2020Partnership with Wing (Cambodia) Limited Specialised Bank to enable Rocket Remit transfers to Wing Money Cambodia. Wing Money is Cambodia's leading mobile banking service provider with 100% district coverage.
• Vodafone M-Tala SamoacoreStrategic or Co-development Partner · 1 October 2020Partnership with Vodafone Samoa for Rocket Remit transfers to M-Tala Samoa. Service offers zero sending fees until November 2020 to assist with COVID-19 recovery.
• Guinea, Guinea Bissau & Mali Mobile Money OperatorscoreStrategic or Co-development Partner · 1 April 2020Partnerships with mobile money operators in Guinea, Guinea Bissau and Mali to enable Rocket Remit transfers, making Rocket Remit the leader in mobile remittance from Australia with largest coverage to African countries.
• Unipagos MexicocoreStrategic or Co-development Partner · 1 April 2020Partnership to enable Rocket Remit transfers to Unipagos Mexico. First time in Australia providing fast, low cost money transfer option to Mexico.
• eDahab SomaliacoreStrategic or Co-development Partner · 1 December 2019Partnership to enable Rocket Remit transfers to eDahab Somalia, expanding coverage to the African continent.
• Airtel Money Zambia and MTN Money/Orange Money Ivory CoastcoreStrategic or Co-development Partner · 1 August 2019Partnerships to enable Rocket Remit transfers to Zambia (Airtel Money) and Ivory Coast (MTN Money and Orange Money).
• EcoCash ZimbabwecoreStrategic or Co-development Partner · 1 August 2019Partnership with EcoNet Wireless to enable Rocket Remit transfers to EcoCash Zimbabwe. First instantaneous mobile money transfer service from Australia to Zimbabwe. EcoCash accounts for 81.2% of all electronic payment transactions in Zimbabwe.
• LendMN MongoliacoreStrategic or Co-development Partner · 1 June 2019Partnership with LendMN Mongolia, Mongolia's first FinTech company, to enable Rocket Remit transfers. Makes Rocket Remit one of the only Money Transfer Operators servicing the Australia-Mongolia remittance corridor.
• Airtel KenyacoreStrategic or Co-development Partner · 1 May 2019Partnership with Airtel Kenya to enable Rocket Remit transfers to Airtel Mobile Money accounts. Kenya has approximately 93% mobile money adoption rate and over 45% of GDP processed via mobile money.
• AirtelTigo GhanacoreStrategic or Co-development Partner · 1 April 2019Partnership with AirtelTigo Ghana to enable Rocket Remit transfers to AirtelTigo Mobile Money accounts. AirtelTigo has 10 million subscribers and is the second-largest MNO in Ghana.
• Digicel MyCash VanuatucoreStrategic or Co-development Partner · 1 April 2019Partnership with Digicel to enable Rocket Remit transfers to Digicel MyCash Vanuatu. Rocket Remit is the first service in the world to provide inward remittance to Digicel MyCash Vanuatu.
• Digicel Fiji and TongacoreStrategic or Co-development Partner · 1 April 2019Partnership with Digicel to enable Rocket Remit transfers to Digicel Fiji and Digicel Tonga Mobile Money, providing new remittance options affected by bank de-risking.
• Digicel Pacific OperationscoreStrategic or Co-development Partner · 1 April 2019Long-standing partnerships with Digicel across Pacific markets including Fiji, Tonga, Papua New Guinea, Nauru, Samoa and Vanuatu for mobile money and remittance services.
• Benin, Rwanda and Senegal Mobile Money OperatorscoreStrategic or Co-development Partner · 1 December 2018Partnerships to enable Rocket Remit transfers to Benin, Rwanda and Senegal, reinforcing position as leader in mobile remittance from Australia to Africa.
• PayTM Payments Bank IndiacoreStrategic or Co-development Partner · 1 October 2018Partnership with PayTM Payments Bank to provide free mobile money transfer to India. PayTM is India's only mobile-first bank with zero balance accounts.
• Cameroon, Congo DRC and Mozambique Mobile Money OperatorscoreStrategic or Co-development Partner · 1 September 2018Partnerships to enable Rocket Remit transfers to Cameroon, Congo DRC and Mozambique, launching mobile money transfer from Australia to these three new African markets.
• bKash (Bangladesh)coreStrategic or Co-development Partner · 1 May 2018Partnership with bKash Limited (a subsidiary of BRAC Bank) to provide free instant money transfer to Bangladesh. bKash focuses on serving low-income masses with financial inclusion services.
• Vodacom M-Pesa Tanzania (and Airtel Money, Tigo Pesa, Zantel Ezy Pesa)coreStrategic or Co-development Partner · 1 July 2017Partnerships with four mobile money operators in Tanzania: Vodacom M-Pesa, Airtel Money, Tigo Pesa and Zantel Ezy Pesa. Tanzania has only 2% bank account penetration but over 40 million mobile money accounts.
• EcoCash ZimbabwecoreStrategic or Co-development Partner · 1 July 2017First service in the world to offer instantaneous mobile money transfer from Australia to Zimbabwe via EcoCash mobile money.
• Telenor Easypaisa PakistancoreStrategic or Co-development Partner · 1 June 2017Partnership with Telenor Microfinance Bank's Easypaisa platform to provide zero fee money transfers from Australia to Pakistan. First instantaneous mobile money transfer service to Pakistan.
• mbbank Vietnam (Viettel)coreStrategic or Co-development Partner · 1 February 2016Partnership with Military Bank of Vietnam and Viettel to enable first instantaneous direct mobile-to-mobile funds transfers between Australia and Vietnam via mobile money.
• eZ Cash Sri LankacoreStrategic or Co-development Partner · 1 July 2015Partnership to enable international mobile remittance corridor between Australia and eZ Cash Sri Lanka.
• PocketMoni NigeriacoreStrategic or Co-development Partner · 1 May 2015Partnership with leading Nigerian mobile money service PocketMoni to enable international mobile remittance corridor between Australia and Nigeria.
• Vodafone M-PAiSA FijicoreStrategic or Co-development Partner · 1 December 2014Partnership to launch international mobile remittance corridor between Australia and Vodafone M-PAiSA Fiji.
• Indosat Dompetku IndonesiacoreStrategic or Co-development Partner · 1 July 2014Partnership to launch international mobile remittance corridor between Australia and Indosat Dompetku Indonesia.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Remitly: Mobile-first international remittance company serving the same diaspora senders from developed markets (including Australia/NZ) to emerging market recipients. Direct competitor on the same corridors (Philippines, India, Pakistan, Bangladesh, Africa) with overlapping digital/mobile delivery model.
• Sendwave: Mobile-first remittance app focused on corridors to Africa and Asia from developed markets. Directly comparable mobile-wallet payout model and target diaspora senders, with overlapping coverage in Kenya, Ghana, Nigeria, Pakistan, Bangladesh.
• PaySend: Digital cross-border money transfer company with a mobile-first stack and wide corridor coverage into mobile wallets in emerging markets. Comparable on customer segment (migrant diaspora), delivery channel (mobile money payout), and corridor overlap.
• WorldRemit (now part of Zepz / Sendwave): Digital cross-border money transfer company delivering to mobile wallets and bank accounts in emerging markets. Directly comparable mobile-money payout model and corridor focus, particularly across Africa, Asia, and the Pacific.

Broad incumbents

• MoneyGram: Large incumbent money transfer operator with extensive Australia-to-emerging-market corridors and a growing digital/app channel. Overlaps with mHITs on sender persona and corridor coverage, but operates a much broader retail cash-pickup network.
• Wise (formerly TransferWise): Global cross-border money transfer specialist operating Australia/NZ-to-emerging-markets corridors. Comparable as a direct digital remittance competitor for the same sender personas (diaspora, migrants), though at vastly greater scale and with an app-first rather than USSD/SMS-first stack.
• Western Union: Global incumbent in cross-border money transfer with the largest agent network. Competes on the same Australia/NZ-to-emerging-market remittance corridors and is increasingly pushing digital/mobile delivery that overlaps with Rocket Remit.

Others

• M-Pesa (Vodafone / Safaricom): Dominant African mobile money platform and a payout endpoint for mHITs' Rocket Remit corridors (Kenya, Tanzania, etc.). Adjacent infrastructure provider in the same mobile money ecosystem rather than a competing remittance originator.
• bKash: Largest mobile financial services platform in Bangladesh and an mHITs payout partner. Adjacent ecosystem participant — the receiving wallet operator mHITs integrates with — rather than a competing remittance originator.

Emerging players

• MFS Africa / Onafriq: Pan-African mobile money interoperability and cross-border payments network. Comparable as a technology-led enabler of cross-border mobile money transfers across many of the same African corridors mHITs serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/rocketremit
• YouTubeyoutube.com/user/mhitslimited
• Facebookfacebook.com/rocketremit
• LinkedInlinkedin.com/company/mhits
• Pinterestpinterest.com.au/mhits

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 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 mHITs