Logo Venture Capital for Africa

PEEX Peer-to-peer money transfer

Peers Exchange is an international peer-to-peer currency exchange and payment platform. Our users, called PEEXers, are paired up strategically to help them avoid expensive fees from banks and other institutions like Western Union or Money Gram. With 35 billion remittance transfers every year, the 30 million African migrants worldwide lose a total of $2 billion just to support their families back home.

We primarily work in Africa, sanages to offer its services so cheaply by matching up payments with those going the opposite direction using mobile application currently and mobile money technology very soon. So “your” money never actually leaves the country — — it’s rerouted to someone who’s being sent a similar amount by someone overseas. Your foreign recipient, meanwhile, receives their funds from someone trying to send money out of their own country.

PEEX innovation is that its customers deal with their peers in a trusted social network. These verification measures work the same way Airbnb and Uber verify users, hosts, and guests.

Fundraising

This venture is seeking finance for their venture. Are you an investor? Check out the Pro Account to see the details.

Idea

We have an elevator pitch. We want you to sign an NDA before we share our business plan. We have a revolutionary new idea that will change the rules of the game.
We have an elevator pitch. We want you to sign an NDA before we share our business plan. We have a revolutionary new idea that will change the rules of the game.

Peers EXchange (PEEX) brings down the cost of sending money from and to Africa by matching up payments with those going the opposite direction using sophisticated software. So "your" money never actually leaves the country — it's rerouted to someone who's being sent a similar amount by someone overseas.

Team

Our founder has the business savvy and persistence to turn ideas into a company. We are not going to build this ourselves. Our plan is to hire people to support us through the implementation.
Our founder has the business savvy and persistence to turn ideas into a company. We are not going to build this ourselves. Our plan is to hire people to support us through the implementation.

Yannick Kenga (CEO) https://fr.linkedin.com/in/yannickkenga Stanislas Bianou (CTO): https://www.linkedin.com/in/sbianou/en Yves Ouambo Kouteu (COO): https://www.linkedin.com/in/yvesouambo


Product

We have a demo or prototype, you can contact us to arrange a demo. The product is built with open hardware and/or software, so there is no proprietary third-party IP.
We have a demo or prototype, you can contact us to arrange a demo. The product is built with open hardware and/or software, so there is no proprietary third-party IP.

Our trial run proved to be a huge concept validation: a total of $1.2 million was sent between PEEXers in less than 1 year. Overall matching rate is 80%. Our website and mobile app platforms are ready for beta testing as well.

Revenue

We have a cash-flow prognosis. We already have revenue from paying customers.
We have a cash-flow prognosis. We already have revenue from paying customers.

Once a money transfer agreement is reached between two or more parties, there are two options to complete the transaction: 1. Monthly subscription: exchange money directly with peers (no middleman). 2. No subscription: We serve as a middleman with escrow services. Users pay PEEX, PEEX pays users. Even for this escrow service, we still only take a maximum of 1% in fees on each side.

  1. Idea and Stage

  2. Team and Organization

  3. Market and Marketing

  4. Finance

  5. Investment

Team

Updates

More info