Fredd
A quick introduction about what your company does/your values/mission.
Bingtellar is simplifying cross-border payments for digital native Africans, remote workers, gig workers and businesses (like Importers, SMEs). We make it fast, affordable and easy for individuals and businesses to send and receive money across Africa. It’s just like Wise but with crypto.
At Bingtellar, our long-term goal is to expand how over 200 million Africans and 55 million Businesses get to access finance, thrive and also participle in the global economy.
Tell us about yourself?
I’m a 2x technical founder with experience in finance, payments and over 10+ Software Engineering experience and 5 years of web3 experience. Previously co-founded a software development agency that has built and scaled over 12 products to hundreds of thousands of users across different continents and he has worked at a number of startups outside of founding his own.
We chose this idea because we personally encountered international payment challenges during our global freelancing experiences. We understand the frustration of waiting up to 14 days for payment clearance also while developing financial tools and ERP software for importers, we identified these challenges as a significant pain point they were experiencing.
Also, we previously built a microtransaction payment product that drove MAU to 10k in 10 months. During the process, we had extensive experience with managing payment and reconciliation for SMEs and also aggregating different payment networks to make it work, we understood optimising cash flow and settlements is key to unlocking new markets and revenue growth, but it had too many bottlenecks because of how stiff and fragmented payment is and also cost overruns. Thus, we decided to build Bingtellar onchain and simple to make access to FX, liquidity and more easier at scale.
If you could go back in time a year or two, what piece of advice would you give yourself?
Be patient, great things take time also build with people you care about and vice versa, people you can share moments with, people who would always be there for you even when things get tough.
What problem does your business solve?
We are addressing the challenge of complex and slow international payments, making it fast and straightforward for individuals and businesses to move money across borders and currencies.
What is the inspiration behind your business?
Our platform is designed for African diasporas, Gig workers, remote workers and Enterprises. We enable individuals and businesses to send and receive money across Africa, handle payroll, settle invoices, and manage salary payments in a matter of minutes, eliminating the traditional 7-14 business days wait time.
What is your magic sauce?
Our secret sauce has to be the ability to marry both the tradition financial systems with Defi and offer this services in an easy and well streamlined way.
What sets us apart is our deep comprehension of the local context and our user-centric approach. In our market, customer convenience, a better experience, and flexibility take precedence in the remittance service and give our users all of this at ease.
What is the plan for the next 5 years? What do you want to achieve?
Tough one, Honestly, we want a billion-dollar company. Our goal is to help millions of Africans tap into the global digital economy. We believe to unlock global payments and crypto’s true potential, Fiat-to-crypto or Crypto-to-fiat transactions should simply just work. In 4-5 years, Bingtellar will be the go-to platform for global payments, providing rails for modern financial services backed by cryptocurrencies, whenever you mention crypto utility Bingtellar will be the first startup you think of.
What is the biggest challenge you’ve faced so far?
Biggest challenges so far has to be managing compliance, we operate in different corridors and we have to be compliant also and then the second challenge is access to capital to accelerate grow and a few others.
How do people get involved/buy into your vision?
To learn more about bingtellar and our services visit our website www.bingtellar.com and feel free to reach out to us anytime
