There’s a lot of buzz about Dash Insight Novembersinghtechcrunch, an alternative payment network, and its potential to disrupt the market. So what does the company have to offer? Read on to learn more.
Dash is a fintech company that offers a peer-to-peer mobile payment service. It also offers an additional premium service called Dash+. This service allows users to pay their bills through the app and earn interest on their savings. According to the company’s website, Dash has processed over $1 billion in transactions since its launch in 2020. The firm has also recently acquired a million users in Ghana, Nigeria, and Kenya.
Dash has garnered some attention for its $32 million seed round, which was led by Insight Partners and was the largest fintech deal in Africa. However, some investors may question the true value of the round, especially since the startup has already raised $8 million last year.
Alternative payment network
Dash, a Ghana-based fintech startup, has closed its oversubscribed $32 million seed round with a big slice of its funding coming from Insight Partners. The company, which provides an alternative payment network, brings together mobile money users and traditional banks. As a result, Dash offers users access to services that traditional providers do not offer. Its platform handles currency conversions, as well as payments through banks and mobile money accounts.
Dash launched in 2020 and has since processed over $1 billion in transactions. Its business model is similar to that of Visa and Mastercard. The company receives revenue from interest and processing fees. It also pays out FX fees when the platform is used for cross-border transactions. Currently, it has 1 million users in Kenya, Nigeria and Ghana. And it expects to double that figure within a few years.
Dash has been raising capital over the past few months. Last October, it raised $8 million, which was followed by a $500,000 pre-seed round last November. Now it has reopened its round after a burgeoning investor interest.