UK-based airtime transfer startup Senditoo.com has raised £ 260,000 to expand and become the leader in the airtime transfer from Europe to Africa – a fast-growing market of +15% per year, just
two months after its relaunch.
The financing round was led by Jan Petzel (Managing Partner, Eldon Capital; former Managing Director of Goldman Sachs; Harvard MBA), Maxime Dupont (Growth Hacker), Ibrahima Sall (Trader at Société Générale), Burhan Osman (Trader at Mercuria).
Senditoo formerly known as Ozaremit will use the funds to expand across African markets and the launch of a mobile application.
Founded by Guinean tech-entrepreneur Ibrahima Soumano, Senditoo already benefits from synergies with rising stars from the African digital scene. The startup has just set up a partnership with Afrimalin, the French classified ads siteco-founded by Romain Girbal, Célia Grémy and Thibault Launay, who are also shareholders of Senditoo. Senditoo is also in discussion with Afrostream, the African Netflix, for a partnership to expand its user base among Francophone African diaspora.
To expand, Senditoo has just recruited a new CEO, Barry McWilliams, who will be in charge of establishing strategic partnerships in Africa. Barry McWilliams has an extensive telecom expertise with more than 10 years of experience as Managing Director of Verizon and Managing Director of BT.
Senditoo.com API allows users to send instant mobile phone top-ups to more than 140 countries, including Africa. As one of the world’s largest airtime transfer networks, Senditoo is directly connected to over 400 mobile operators worldwide with a reach of 4.5 billion prepaid phone users.
For diaspora, airtime transfer is the ideal solution for instantly sending small amounts of value to their family and friends at home. According to the World Bank, communication expenses in developing economies represent 4 to 6% of household incomes. The firm says airtime transfer is a $3 billion market with a 15-20 % increase per year.