ZipZap

Who Should Be Interested:
Do you often send money home to loved ones, but get frustrated with the cost of remittance fees and how long it can take to submit a transaction? Do you wish you could send that money as easily as it is to Venmo someone? Well, if this sounds like you, then ZipZap could be the investment you’ve been waiting for. Their app allows you to send remittances quickly, easily, and affordably -- all from your smartphone!

The Company:
ZipZap is an app designed to streamline transactions in the global remittance market for migrant workers who send money home to their loved ones. The World Bank estimates that over $600B a year is transferred globally from immigrants back home to their families, yet the process to do is long, frustrating, and expensive. ZipZap, however, solves this problem and makes remittance transactions quick, easy, and safe. Their app’s proprietary Currency Router technology uses either traditional SWIFT banking rails or global Blockchain currencies for each transaction, depending on whichever is cheaper and faster, and allows users to send as little as $50 to people back home. Think of it like Venmo -- for global micro remittances. ZipZap currently has over 300 active users in Canada, hundreds of recipients in India and China, and estimate that over $1M has been sent through their app in just under 2,000 transactions. Right now, they are available to use in Canada to send money back to India, China, and the Philippines, and they are expanding to the UK, the US, and dozens of receiving countries in 2018.

The Bottom Line:
ZipZap is putting money back into the pockets of people who need it most. World Bank estimates that even a 1% drop in remittance fees could create millions of jobs and add to the GDP of developing countries, leading to a higher quality of life, more education, and cleaner food and water. ZipZap is here to change the world -- one global remittance transaction at a time.