Grey has announced the launch of its service to East Africa starting with Kenya in partnership with Cellulant. Its products, including foreign bank accounts, instant currency exchange, and international money transfers, are now available to Kenyan residents who sign up on the platform.
In partnership with Cellulant, Grey has expanded its services into East Africa, kicking off with Kenya to address the difficulties of sending & receiving money abroad.
The Ycombinator-backed fintech startup offers a unique international money transfers service that allows its users to send and get international payments quickly without restrictions. Cellulant is the company’s payments processor powering its payouts to thousands of Grey’s customers.
Grey and Cellulant senior managers attended an exclusive ceremony at Radisson Blu Hotel, Upperhill in Nairobi on May 25th. They showed how users could open a virtual foreign USD or GBP bank account free of charge. Users can convert to the Nigerian Naira or Kenya Shillings and receive payments.
Grey’s instant currency exchange service allows customers to open virtual international bank accounts free of charge. This is a great option for small businesses, freelancers, remote workers and content creators in Kenya who want to make payments seamlessly.
Today, thousands are able to access gig opportunities in Kenya through digital platforms.
The internet gig economy is fuelled primarily by a growing workforce, smartphone penetration and mobile money proliferation.
Online gig work is a great option for young workers in Africa, as it offers them a pathway to economic success and alternative employment options.
This was the setting where the startup was born. Mr Idorenyin Obong, Grey’s CEO, worked remotely for international companies but faced numerous challenges in accessing the foreign currency in his accounts.
Grey was launched in 2021, by Femi Achedo and Idorenyin Obong. They wanted to facilitate Nigerians’ exchange of local currency to foreign currencies and their access to them in their accounts.
This startup allows Kenyans the ability to withdraw to M-Pesa and their local bank accounts in their preferred currencies.
Suppose you’re a traveller on a trip to Nairobi; you can convert any supported currencies to Kenyan Shillings, pay for services directly to M-Pesa, or withdraw to a local bank account.
Grey’s services are now available in Kenya and Nigeria with this launch via the Grey website and will soon be available on the app stores.