# Wave Transfer

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wave-transfer

- Industry: Financial Services
- Headquarters: Dakar, Senegal
- Website: www.wave.com
- Total disclosed funding: $200M
- Latest round: Series A (Sep 7, 2021)
- Investors on record: 6

## About

Based in Dakar, Senegal, and founded in 2017 by Drew Durbin (CEO) and Lincoln Quirk, Wave Transfer Limited provides a mobile application that enables users to send, transfer, and borrow money. In June 2025, the company raised EUR 117 million in venture debt funding led by Rand Merchant Bank, with participation from British International Investment, Finnfund, Norfund, and other unspecified investors. Wave develops and operates a mobile money remittance application for Android and iOS that enables instant electronic money transfers. It provides mobile money transaction services to customers who do not have bank accounts. An agent network, agent and consumer applications, QR cards, business collections, and disbursements make up its infrastructure. The firm's platform also enables users to withdraw money and pay bills. The firm generates revenue by allowing users to send money to others with a 1% transfer fee. The company will use the June 2025 funding to strengthen its cash flow and accelerate its development in current and future markets, expanding access to mobile money and financial services for underserved populations.

## Funding rounds

- Series A, Sep 7, 2021, $200M — Partech Partners, International Finance Corporation, Founders Fund, Stripe, Inc., Ribbit Capital, HRTG Partners

## Investors

- Partech Partners (https://capitalatlas.ai/funds/partech-partners) — Series A
- International Finance Corporation — Series A
- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Series A
- Stripe, Inc. — Series A
- Ribbit Capital (https://capitalatlas.ai/funds/ribbit-capital) — Series A
- HRTG Partners — Series A