Paris, FRANCE | THE INDEPENDENT | Eversend, a Neobank for Africans led by Ugandan entrepreneur Stone Atwine, has closed its oversubscribed equity crowdfunding campaign on Seedrs for just over $1 million.
The startup Eversend had planned to raise $613,000 in return for 7.67% equity, but ended up raising ($1.015 million).
Funds from the Seedrs round will be used for product development, accelerate user acquisition efforts, beef up working capital, expand its market to Nigeria, Francophone Africa, and Europe and use some of the funds for regulatory compliance.
The digital-only finance platform provides cross-border money transfers, multi-currency wallets, currency exchange, and plans to offer personal loans, group savings, savings, merchant payments and investments.
Eversend is a multi-currency e-wallet that allows you to exchange, spend and send money at the best possible rates.