Sending money to families and friend at home has always been demanding to the immigrants. Money sending platforms like Western Union (WU) made the process sometimes complicated. Moreover, these platforms charge high transaction fees, they are slow, and at times they are less secure. However technological revolutions helped to fill at least the gap of transferring money. The use of blockchain technology has helped immigrants at a greater length.
The SureRemit platform helps immigrants to send money back at home using blockchain technology. The platform does not work with cash. Instead, it offers affordable, cashless means for sending money. SureRemit uses digital voucher platform and merchants within the regions with their services. The better part of the platform is that it does not charge any transaction fee. This makes it better placed than its competitors. There is usually an average charge of 7.45% fees when sending money globally using other platforms. However, SureRemit relieved users from that burden. The only point where the platform charges a small transaction fee is when it links customers to the local merchants. Remember it does that directly without passing through the traditional baking systems.
GreenHouse Capital owns SureRemit. This is a finance company based in Nigeria. The platform has managed to raise $7 million on the initial coin offering (ICO) market. A significant number of cryptocurrency investors have placed their weight behind SureRemit. The investors include Hashed who is the most prominent cryptocurrency funds operator in South Korea. Moreover, it has stood with many renown blockchains and blockchain supported projects. They include Simple Token, Ethereum, and Airswap. Hashed decided to join the movement to end challenges that comes with sending money. SureRemit also aims to help those customers who are far from the financial markets.
The development will help in developing new ways in cryptocurrency and blockchain. The two will hence help to change the African market. GreenHouse Capital hopes to improve blockchain technology. That will ensure African growth through the ICO market. The influence of improved capital without the support of equity financing is great. SureRemit can carry out its activities without capital support from its shareholders. GreenHouse Capital has set the ground rolling on the African blockchain solutions. GreenHouse Capital decided to walk away from Venture Garden Group back in 2016. Since then the company has invested in 14 renowned technology companies. The companies include ATM, Mines.io, Appszone, and ESL.
Helium and Flutterwave companies raised millions of dollars in growth capital in 2017. This came from international investors like Y Combinator, PayPal, and Greycroft. The blockchain is the sure way of solving African infrastructure problems. At the same time, it believes in decentralizing required tools to make the work easier.