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Mobile News In Africa: #86

After Hitting One Million User Milestone, the Ghanaian Fintech App Dash Raised $32.8 Million to Build Out Its Connected Payments Wallet

With this huge funding, Dash intends to promote the functionality of digital payment platforms across Africa. They intend to do this by promoting the development of Visa and Mastercards as intermediate modes of payment for African mobile payment platforms.

Led by Insight Venture Partners and partnered with 4DX Ventures and Global Founders Capital, the first seed round got its funding. A sum of 10 investors contributed to raise the huge amount.

Dash helps Africans buy, sell, and pay bills without the hassle of conversion problems using bank and telecommunication services across the continent.

The realize their income from:
• subscription plans (Dash+ premium service)
• FX fees used in cross-border
• user savings (interest earned when users save)
• bills (agent commission earned when users pay bills)

Time Stamps of Dash’s Success
• 2020 – realized over $1 billion since inception
• 2021 – increase in traction volumes by 300%
• October 2021 – boasted of 200,000 users
• October 2021 – $250 million in traction volumes
• January 2022 – Over $300 million processed
• Customers increased to over 1 million across Nigeria, Kenya, and Ghana

Prince Baokye founded Dash to solve the problem of not being able to effectively use the thousands of payment apps and mobile wallets across countries in Africa.

So, Dash stepped in and decided a means to build a network between financial institutions and mobile money. This way, Africans can easily spend, save, and pay bills without stress.

You can find Dash in:
• Nigeria
• Kenya
• Ghana

Dash’s New Moves
Dash expects to expand to other African countries to keep the flame burning. They also want to include new features to further improve user experience and comfort.MORE…

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