What KORI Canada does

KORI Canada (legal entity: KORI Global Services Inc., operating as KORI Money Transfer) is a Burlington, Ontario-based cross-border remittance provider founded in 2021. The company operates a mobile application on iOS and Android that enables individual customers in Canada to send money to 11 West and Central African countries — Benin, Burkina Faso, Niger, Mali, Côte d'Ivoire, Senegal, Togo, Ghana, Cameroon, Equatorial Guinea, and Congo Brazzaville. Recipients can receive funds via bank deposit (FBN Bank, CCA Bank, Sofina S.A.) or mobile wallet (Orange Money, MTN, Vodafone Cash), with an underlying offline network of 500+ partner service points supporting assisted cash pickup and onboarding.

The platform's technology stack includes KYC verification, AML transaction monitoring, fraud detection, real-time transfer tracking, and SMS notifications. The company is registered with FINTRAC (M23750471) as a Canadian money services business and holds an ESM license (20506). Reported monthly gross transfer volume exceeds 6 billion CFA Francs (~$10 million USD), though no financial figures on net revenue, funding, or unit economics are disclosed.

The business model is consumer-facing: end users pay zero transfer fees, with revenue generated from the FX spread between CAD and the CFA Franc on the outbound leg. Customer acquisition is primarily mobile-app driven, targeting the West and Central African diaspora in Canada. Headcount is reported in the 11–50 range, and the company is privately held with no disclosed investors, management bios, or board composition in the source material.

Name

KORI Canada

Legal name

KORI Global Services Inc.

Website

https://korimt.ca

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

KORI Canada is a Burlington, Ontario-based mobile remittance platform enabling individuals in Canada to send money to 11 West and Central African countries via bank deposit or mobile wallet, monetizing FX spreads on zero-fee consumer transfers.

Ownership category

akta.pro rank

Product category

International Money Transfer / Remittance Services

SIC

Finance Services (6199)

akta.pro primary industry

Consumer Remittances (P2P) (FSAMAIAA)

Keywords

• International money transfer
• Remittance services
• Mobile wallet transfers
• Diaspora banking
• Cross-border payments

Headquarters

HQ city

Burlington

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. International Money Transfer Services: KORI earns revenue through foreign exchange margins on currency conversions between Canadian dollars and African CFA francs. While the company advertises zero transfer fees, revenue is generated through the spread between the exchange rate provided and the market rate.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels2 records

Core offering

KORI Canada operates a mobile application-based international money transfer service that enables individuals in Canada to send funds to West and Central African countries (Benin, Burkina Faso, Niger, Mali, Côte d'Ivoire, Senegal, Togo, Ghana, Cameroon, Equatorial Guinea, and Congo Brazzaville). Funds can be received via direct bank deposits or mobile wallets (Orange Money, MTN, Vodafone Cash), with the company earning revenue through foreign exchange margins on CAD-to-CFA conversions while advertising zero commission fees.

Product overview

KORI Canada offers a unified mobile application-based money transfer service for sending funds from Canada to West and Central Africa. The core product is the KORI Mobile App, which serves as the customer interface for initiating transfers. Two primary reception modes are supported: Bank Deposit Transfer (direct to beneficiary bank accounts via partner banks FBN Bank and CCA Bank) and Mobile Wallet Transfer (to mobile money services including Orange Money, MTN, and Vodafone Cash). The service includes real-time transfer tracking and SMS notifications for transaction status.

Differentiator

Problem solved

Functional benefit

Products and services

• KORI Mobile App

Quantifiable outcome

• 6+ billion CFA Francs moved monthly

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core.

• FBN BankcoreTechnology or IntegrationFBN Bank is a financial institution partner enabling bank deposit transfers for KORI beneficiaries in Africa. KORI partners with banks and financial institutions to facilitate reliable fund transfers.
• CCA BankcoreTechnology or IntegrationCCA Bank serves as a financial partner for processing beneficiary bank deposits in supported African corridors.
• Sofina S.A.coreTechnology or IntegrationSofina S.A. is a financial institution partner providing banking infrastructure for KORI's money transfer services in Africa.
• Orange MoneycoreTechnology or IntegrationOrange Money mobile money service partner enabling instant mobile wallet transfers to beneficiaries in Africa.
• MTNcoreTechnology or IntegrationMTN mobile money partnership for instant wallet transfers to MTN subscribers in supported African countries.
• Vodafone CashcoreTechnology or IntegrationVodafone Cash mobile money service partner enabling instant mobile wallet transfers, particularly in Ghana.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Remitly: US-listed digital remittance company offering Canada-to-Africa transfers via mobile app and bank/mobile wallet payout. Most directly comparable to KORI on product (consumer cross-border remittance), target customer (diaspora), and delivery (mobile-first).
• WorldRemit: Global mobile-first remittance platform serving Africa from multiple send countries including Canada. Competes head-to-head on mobile wallet payout (MTN, Orange Money, Vodafone Cash) and zero-fee messaging — same corridors and payout rails as KORI.
• Sendwave: Africa-focused mobile remittance app (owned by Zepz) serving African diaspora from North America and Europe. Highly comparable niche positioning to KORI, with similar mobile money payout strategy across West and Central Africa.
• Taptap Send: Mobile-only remittance app focused on serving diaspora sending to Africa and other emerging markets with zero-fee messaging. Direct competitor to KORI on zero-fee positioning, mobile wallet payout, and Canada-Africa corridors.
• LemFi: Canada-based mobile remittance platform focused on diaspora sending to Africa and other emerging markets. Closest geographic and product peer to KORI, competing directly for Canada-to-West Africa flows.

Broad incumbents

• Western Union: Largest global remittance incumbent with the deepest agent network and dominant Canada–Africa corridor presence. Competes with KORI on the same customer base but operates at vastly larger scale and offers both digital and extensive cash-pickup options.
• MoneyGram: Global remittance incumbent operating across Canada and Africa with both digital and agent-based service. A broad-market competitor to KORI, particularly on bank deposit and mobile wallet payout in West and Central African countries.
• RIA Money Transfer: Global remittance brand (owned by Euronet) with established Canada-to-Africa corridors via bank deposit and mobile wallet. Indirect competitor at a broader scale, comparable on the destination side of the same corridors.

Emerging players

• Chipper Cash: Africa-focused mobile payments and cross-border transfer app with strong presence in Ghana, Nigeria, and other African markets KORI serves. Comparable on mobile-first African remittance and mobile wallet infrastructure, though broader in product scope.

Others

• dLocal: Cross-border payments infrastructure provider enabling merchants to pay out to consumers in emerging markets including West and Central Africa. Not a direct remittance competitor, but operates in the same cross-border payment-to-Africa rail ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/korimoneytrans
• Facebookfacebook.com/KORI-MONEY-Transfer-100090871780364
• LinkedInlinkedin.com/company/kori-money-transfer

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 KORI Canada