Wave
Wave is a mobile service provider that allows unbanked people in Africa to access financial services such as saving and transferring money. Although Wave is a for-profit company, its founders—long-time members of the effective altruism community—launched it primarily with the goal of reducing global poverty.
As of February 2022, Wave is the largest mobile money service provider in Senegal.[1] Ben Kuhn, Wave's CTO, estimates that the company saves people in Senegal over $200 million every year—or around 1% of that country's GDP.[2]
Further reading
Kuhn, Ben (2019) Why and how to start a startup serving emerging markets, Ben Kuhn’s Blog, November 5.
Quirk, Lincoln & Ben Kuhn (2020) We’re Lincoln Quirk & Ben Kuhn from Wave, AMA!, Effective Altruism Forum, October 27.
External links
Wave. Official website.
Related entries
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Finextra (2021) Wave closes largest Series A round for an African fintech with $200 million, Finextra, September 7.
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Kuhn, Ben (2021) Working at Wave is an extremely effective way to improve the world, Wave’s Blog, July 8.