Bridging Africa’s Funding Gap: How Borderless Empowers Diaspora Investments
The African continent faces a significant funding gap, estimated at $406 billion, hampering its potential for future growth. Recognizing the crucial role of diaspora investments in filling this void, fintech platforms like Borderless are emerging as key players. Borderless, specifically designed for diaspora-led investments, is simplifying the process and addressing the specific challenges these investors face when supporting ventures back home.
Streamlining Diaspora Investments: Borderless’s Approach
Borderless, formerly known as PLTFM, was born from the operational challenges faced by Joe Kinvi, co-founder of HoaQ Club. HoaQ Club, a collective of over 800 members, has already invested over $3.7 million in various African ventures. The initial platform was developed to streamline the cumbersome administrative work and manual processes required to manage the collective’s operations. The first iteration of Borderless significantly improved HoaQ’s efficiency, reducing manual processes by 80%. This success fueled the platform’s further development and its transformation into a broader solution to support diaspora members looking to invest in Africa. Borderless offers a user-friendly platform aimed at reducing the friction traditionally associated with cross-border investments. It aims to empower Africans abroad and improve their access to opportunities in Africa.
Keywords
Related Keywords: Borderless, African funding gap, Africa investment, bridging finance, 406 billion, African development, future of Africa, impact investing, crossborder finance, funding solutions Africa
