Get to Know our Customer — Kyshi

This week we spoke to Ayo Akindele, Co-Founder at Kyshi, to understand their journey, the reality of running a business during COVID-19, and what they see as the future of fintech.

Kyshi as it is today was birthed right in the midst of the COVID-19 pandemic. However, prior to this it existed in a less formal capacity which has taken various forms from WhatsApp groups to what we have today- a full-fledged app. Kyshi is built proudly by a diverse team of audacious individuals across Europe and Africa with the shared mission of alleviating the huge cost and inconvenience of sending money to and from Africa.

Africans and anyone around the world wishing to transact with Africa. Africans are travelling more than ever before for tourism, education, business or simply to relocate in pursuit of a better life for themselves and their families. Kyshi wants to support their journey as well as how they continue to support those back home.

Figuring out the pieces to our puzzle took a while and was beset with many issues such as dealing with banks and regulations, to the intricate nature of building new technology etc. However, we knew we were on to something special, so we kept at it and saw advancements all across the industry which made our destination clearer to reach; it then simply became a case of sticking at it.

The sheer resilience, persistence and audacity to be different and do what many have said “that’s such a great idea, you know I thought of doing it!” — but never followed through, like we have.

Financial technology or “fintech’ has undergone a rapid change in the past 3–5 years both in our home market of the UK as well as markets such as Africa, North America & Latin America. We believe this advancement will transcend beyond those markets so there will truly be no borders across countries, continents and people. New fintech companies will continue to offer more innovative solutions than the traditional players who will begin to interface less with consumers but will continue to play a critical role.

This is easy — for all companies, adapt or die — simple as that.

For us, we built, released and raised an oversubscribed round of funding from bullish and enthusiastic investors. We tried to ensure there was some good that came out of the global crisis — it gave us the opportunity to put our heads down and stay focused on our vision.

I think it’s great to see all the new entrants in the industry, however that will then lead to a convergence and not as much distinction in offerings. Hopefully however, that means customers continue to get better, more cost effective and easier products to use in their daily lives which is all our end goals at the end of the day.

Find out more about partnering opportunities with Railsbank.

@RailsBank enables any business or brand to rapidly become a #fintech

@RailsBank enables any business or brand to rapidly become a #fintech