Bundle, an Africa-focused social payments app for cash and crypto launches with $450k pre-seed funding from Binance

Microtraction boss, Yele Bademosi, has announced the launch of Bundle, an Africa-focused social payments app for cash and crypto with the aim of driving crypto adoption in Africa and bringing more economic freedom
and prosperity to all Africans.

Bundle allows users to request, send and receive cash or crypto from their peers.

Users are able to buy, sell and store digital currencies such as BNB, BTC and ETH as well as deposit/withdraw digital currencies and local fiat currencies; starting with NGN (Nigeria Naira) and many more fiat currencies in the coming weeks. These transactions can be processed via various payment channels such as cards, bank transfer, and Mobile Money as well as safely stored in Bundle’s SmartWallet.

Bundle also announced that it closed a successful pre-seed fundraise – raising $450k from global blockchain company, Binance.

According to the ex- Director of Binance Labs and Bundle Founder Yele Bademosi, “We built Bundle with the digitally native African user in mind. They are social, online and connected across geographical boundaries. They prefer their financial services delivered digitally via mobile apps as opposed to visiting brick and mortar bank branches. We built Bundle as a mobile wallet that supports cash and crypto, and makes using crypto feel like just another digital financial transaction done on a mobile app like Venmo.”

Bundle’s product vision is to evolve into a super-app with a native digital wallet that supports crypto and cash – one that becomes a tech essential to everyday life for Africans and the world.

“We believe Africa has several characteristics that make it a prime geographical location for the realization of the full potential of digital currencies, blockchain, and its applications. Currently, only 1.4 million people out of 1.2 billion people in Africa use crypto today. This is a worthwhile mission because making the blockchain ecosystem more accessible unlocks economic opportunity on and for the continent,” says Bundle Chief Technical Officer, Taiwo Orilogbon.

Bundle will initially launch with 0 fees however KYC verification and fiat deposit and withdrawal limits apply.

Bundle plans to support over 30 African countries by the end of the year, creating a simplified fiat on/off ramp for crypto on the continent.

The Bundle Android app is currently available and the iOS app will be available in the coming weeks. Bundle does not currently support a desktop version.