The South Korean money-transfer service SentBe recently announced the official launch of its service allowing individuals to send remittances from the US to Australia, Canada, Nigeria, member nations of the EU and 24 additional countries in Eurasia. The firm also serves individuals sending payments from Indonesia, Singapore and South Korea.
Some transactions are immediate, and others may take up to one day. Users may access the service via the company’s website or its app. The firm claims its fees are one tenth those charged by traditional money-transfer services.
SentBe’s other products are SentBiz, a business-to-business service for sending payments across borders, and the e-commerce settlement service Senda. Among its assets is a technology named the Automated FX Hedging System, which is intended to reduce costs by lowering foreign exchange risks.
SentBe’s investors include South Korea’s Stonebridge Ventures as well as D3 Jubilee Partners, IBX Partners, L&S Venture Capital, Partners Investment, Rapyd Ventures and TBT Partners. The firm was founded in 2015.
Sources and Additional Resources
Direct contact with Edelman, on behalf of SentBe
SentBe homepage
https://www.sentbe.com
Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Download a sample at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: Money Transfer Firms Suspend Fees for Payments to Libya, Morocco in Response to Disasters
- MICROCAPITAL BRIEF: FINCA Ventures Places Equity in Agtech CassVita, Seeking to Boost Incomes from Farming Cassava in Cameroon
- MICROCAPITAL BRIEF: FMO Committing $30m to South Asia Growth Fund III to Support Equity Placements in Businesses Reducing Environmental Impacts, Mainly in India
- MICROCAPITAL BRIEF: Axis Launches axisPay Mobile Money App for Small Businesses in Egypt
- MICROCAPITAL BRIEF: Grab Adds MoMo as Mobile Payment Option for Ride-sharing, Deliveries, Digital Financial Services in Vietnam
