Vipicash

Vipicash, established in Oslo, Norway in 2017, operates as a fintech platform focused on the global remittance market. The company was founded by Fredrik Seka Paulsen Mosis and is led by CEO Olivier Mukuta. Vipicash aims to address the challenges of transparency and potential misuse in international money transfers, particularly for funds sent to developing regions in Africa, Asia, and Latin America.

The core of Vipicash's business is a blockchain-based money transfer system that allows senders to lock funds to specific goods and services. Instead of sending cash, users can direct payments for essentials such as groceries, school fees, healthcare, and utilities. This model ensures that the money is used for its intended purpose, providing a transparent and trackable digital payment system for both remittance and aid. The platform functions as a digital marketplace connecting vendors, senders, and receivers, thereby reducing overhead costs and distribution fees.

The company's target clients are primarily immigrants and refugees who send financial support to their families back home, as well as aid organizations seeking to ensure efficient fund distribution. By converting monetary transfers into direct payments for services, Vipicash provides senders with certainty about how their money is utilized. In November 2017, the company secured approximately $270,000 (NOK 2.2 million) in a seed funding round. The investment came from a group of local investors including Founders Fund, StartupLab, Nettuno Capital, and angel investors such as Frithjof Frederiksen, Olav Folkestad, and Davide de Picciotto.

Keywords: fintech, remittance, blockchain, money transfer, international payments, aid distribution, transparent payments, value-based remittance, Oslo, Norway, Fredrik Seka Paulsen Mosis, Olivier Mukuta, Founders Fund, StartupLab, digital marketplace, cross-border payments, financial services, emerging markets, fund distribution, secure payments