Nigerian wealth management startup, Bamboo, has introduced a new fee-free remittances application named “Coins By Bamboo,” designed to facilitate seamless financial transactions from Canada to Nigeria. Founded in 2019 and a proud alumnus of Y Combinator, Bamboo is an innovative investment platform that equips Africans with the tools to build wealth from the ground up. The platform offers real-time access to global markets, primarily focusing on enabling Africans to purchase shares from companies listed on the US stock market.
Expanding its suite of services, Bamboo has now launched a remittances app called “Coins by Bamboo.” Supported by the Canadian Money Service Business (MSB) license, this new app is available for download on both Google Play and Apple stores. It is designed to enable Nigerians living abroad to send money to their loved ones in Nigeria more quickly, securely, and cost-effectively, all from the convenience of their mobile devices.
Bamboo emphasized that the app aligns with its core mission of empowering Africans to invest in anything, from anywhere. After successfully navigating the rigorous Canadian regulatory process to obtain an MSB license, Bamboo is now certified to provide remittance financial services that adhere to high standards of regulatory and operational compliance.
We are thrilled to officially launch ‘Coins by Bamboo’ to the public. ‘Coins’ represents a natural progression of our core values – offering Africans the opportunity to engage in the global investment economy.
Richmond Bassey, co-founder and CEO of Bamboo
We believe that one of the most significant and preferred investments for Africans is in other Africans – investing in people and their futures through human capital development. We aim to make this process as seamless as possible. This new app further fuels our mission to democratize access to investment opportunities for Africans by promoting social impact and providing opportunities to invest in the well-being of those who matter most to them.
In addition to its remittance services, Bamboo is collaborating with several charitable organizations, including Women at Risk International Foundation (WARIF), Chess2Slums, and Bethesda Home For The Blind. These partnerships are designed to make it easier for Nigerians in the diaspora to donate to causes and projects they care about, thus contributing to social good and community development.
