PayQin
Making online payment simple for Africa.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 Valuation: €0.0 | round | |
| investor | €0.0 Valuation: €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
| investor investor | €0.0 Valuation: €0.0 | round | |
N/A | Seed | ||
| Total Funding | 000k | ||
Related Content
PayQin is a fintech company targeting the unbanked and underbanked populations in emerging markets, with a primary focus on Francophone Africa. The company was founded in 2017 by Fabrice Amalaman and Pierre-Alain Masson. Amalaman, a native of Ivory Coast who grew up in France, experienced firsthand the challenges of online payments in Africa, which directly inspired the creation of PayQin. His co-founder, Masson, brings a background in finance to the venture.
The core of PayQin's offering is a digital wallet integrated with a virtual debit card, designed to bridge the gap between local mobile money systems and global online commerce. The platform allows users to top up their virtual Visa or Mastercard using popular local payment methods like mobile money. This functionality effectively enables individuals without traditional bank accounts to purchase goods and services from international websites such as Amazon, Alibaba, and Netflix.
The business operates within the rapidly expanding mobile payments sector in Africa. Its revenue model is primarily based on transaction fees. For instance, PayQin charges a commission when users load their virtual cards via mobile money and also collects fees for certain transactions and international money transfers. The company serves individual consumers who rely on mobile money for their daily financial activities but are excluded from the global digital economy.
Beyond online payments, PayQin has expanded its services to include features like bill payments, airtime top-ups, and cross-border money transfers between certain African and European countries. The company has participated in accelerator programs such as Seedstars and has secured funding to fuel its expansion. A significant milestone was achieved when the company processed over €1 million in transactions within a single month, signaling growing adoption and market traction. Keywords: fintech, mobile payments, virtual card, unbanked, Francophone Africa, digital wallet, cross-border payments, financial inclusion, e-commerce, mobile money