Draft:Mama Money South Africa

Mama Money (South Africa) is a South African-based fintech company that provides low-cost money transfers. Established in March 2013, the company provides financial services to underbanked and underserved communities. Mama Money South Africa provides these communities with the ability to transfer money across international borders.

History

Mama Money South Africa was co-founded by Mathieu Coquillon and Raphael Grojnowski in March 2013 as a fintech company which is headquartered in Cape Town, South Africa. Mathieu Coquillon started his career in various marketing professions and Raphael previously worked at United Nations World Food Program as a Program Officer. He attended SOAS University of London and Durham University. Raphael obtained a Degree in Law from Durham University in the UK and a Masters in Development Studies from the University of London which looked at rural livelihoods, agricultural development, famine and food security. The two co-founders found each other and decided to start Mama Money South Africa. They saw a gap in the money transfer services industry and with a mission to reduce the cost of remittances and provide fairer financial services to migrant workers in Africa. The company initially focused on remittances to Zimbabwe and has expanded its services to several other countries. The founders' vision and focus was inspired by their firsthand experiences with the high costs and inefficiencies in the remittance market, particularly affecting migrant workers who needed to send money home to support their families.