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GRINAPAY

Grinapay
Grinapay

Business Name: GrinaPay

Sector/Industry: Financial Technology (Fintech)

Business Location: Nigeria

Contact Information:

Founding Year: 2023

Business Status: Startup

Number of Employees: 1–10

Business Tagline: Bringing Care and Control to Cross-Border Support


About Grinapay

Founded by David Olumati Nwanguma, GrinaPay is a Nigerian-based fintech startup founded in 2023 with a mission to transform the remittance experience for Africans in the diaspora. The platform was created to bring transparency, security, and purpose-driven financial support to cross-border money transfers. By enabling users to pay directly to verified service providers such as schools, hospitals, and merchants, GrinaPay ensures that remittances are used exactly as intended.

Mission and Vision

GrinaPay's mission is to become the most trusted platform for diaspora remittances and welfare support. The company envisions reaching one million subscribers within three years while expanding its footprint across Africa, Asia, and the Caribbean. Long-term objectives include the development of infrastructure for diaspora-backed direct lending and positioning the company for eventual acquisition or a public offering (IPO).

The Solution:

The company has developed a platform that addresses the lack of transparency in traditional remittance systems. Through GrinaPay, users can bypass intermediaries and send funds directly to vetted merchants or service providers in their home countries. This model ensures that essential needs such as education, healthcare, and construction are fulfilled reliably.


Founding Team

  • David Olumati Nwanguma (CEO): A seasoned professional with over eight years of experience in business development, IT, and digital transformation. He is driven by a personal commitment to solving practical problems affecting African families.

  • Chima Abiakwu (Co-Founder & COO): Brings over a decade of expertise in strategic operations and cross-border logistics.

  • Austine Ebugu (CTO): A software engineer and cybersecurity expert tasked with ensuring product scalability and regulatory compliance.

  • Dr. Gift Onu (CFO): An academic and financial strategist responsible for promoting transparency, sustainability, and fiscal accountability.

  • Confidence (CMO): The company’s marketing lead with a specialized focus on the African diaspora market and community dynamics.


Advisory and Support

GrinaPay is supported by Tekedia Capital and benefits from mentorship by renowned business strategist Professor Ndubuisi Ekekwe.

Milestones and Achievements

Since its inception, GrinaPay has successfully built user confidence by rigorously verifying merchants before completing transactions. The platform currently serves thousands of users, including over 500 premium subscribers who actively pay for the service.


Challenges

One of the key challenges faced by GrinaPay is building trust within the African market, which has traditionally been skeptical of new digital financial solutions. Overcoming this hurdle remains central to the company’s strategic approach.

Strategic Partnerships

GrinaPay has established partnerships with multiple financial institutions across Africa, including Kuda, Globus Bank, and Sarepay.


Target Audience

GrinaPay’s core audience consists of Africans living in the diaspora who seek to provide meaningful and accountable financial support to their families and communities back home.

Competitive Landscape

GrinaPay operates in a competitive fintech environment alongside companies such as Taptap, Moniepoint, and Remitly. Its emphasis on purpose-driven remittance and verified service delivery differentiates it in the marketplace.

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