Ghanaian Fintech Seevcash Secures US$333,000 in Stellar Funding, Launches Visa Card

Ghanaian fintech startup Seevcash has secured US$333,000 in funding through the Stellar ecosystem as it expands its remittance and peer-to-peer money transfer platform for African diaspora communities. The company said the direct awards from the Stellar Community Fund and affiliated ecosystem programmes total US$33,000, distributed across four grants and awards. The broader US$333,000 figure reflects funding received through the Stellar ecosystem.

The announcement comes alongside the launch of a Seevcash Visa card, giving users a way to spend funds received through the platform online and at physical merchants where Visa is accepted.

Stellar funding supports Seevcash expansion

Seevcash received the funding through programmes operated by the Stellar Development Foundation, which supports startups and developers building on the Stellar network. According to the company, its direct Stellar awards comprise two Community Fund grants and two ecosystem growth programmes, with the four awards collectively providing US$33,000.

Dawuda Iddrissu, chief executive officer and co-founder of Seevcash, said the funding arrived at important points in the company's development and helped the team accelerate its product roadmap.

The startup is using the support as it works to increase adoption of its platform among African diaspora communities and improve the experience of sending and receiving money across borders.

Building around cross-border payments

Seevcash provides peer-to-peer money transfer services for users sending funds between countries, with a focus on African diaspora communities in markets including Ghana and the United States. The platform is designed around everyday transfers between families and individuals, giving users a digital channel for sending and requesting money across borders.

Seevcash has also integrated MoneyGram into its platform. The partnership allows users to receive inbound transfers and provides an additional route for adding funds to their Seevcash accounts.

The startup is now looking to increase the frequency with which users engage with its platform as it expands beyond basic money transfers.

Seevcash launches Visa card

The fintech has introduced its Seevcash Visa card alongside the funding announcement.

The card allows users to spend their Seevcash funds at merchants that accept Visa, both online and in physical stores. This extends the platform's use beyond sending and receiving money and gives recipients a direct way to access funds for everyday purchases.

Cosmos Appiah, chief technology officer and co-founder of Seevcash, said the card responds to demand from users who wanted a way to spend funds directly after receiving them through the platform.

The launch gives Seevcash an additional product through which it can retain users after a transfer has been completed.

Expanding the diaspora fintech proposition

The funding and Visa launch point to a broader strategy for Seevcash as it develops its position in the cross-border payments market.

The company is combining remittances, peer-to-peer transfers and card-based spending within the same platform, linking the movement of money between countries with how recipients use those funds once they arrive.

For Seevcash, the opportunity lies in increasing the value of each customer relationship beyond individual remittance transactions. Its MoneyGram integration provides an established channel for inbound transfers, while the Visa card gives recipients another way to use their balances.

The Stellar backing provides additional support as the company develops its platform and expands its presence among African diaspora users. Seevcash is now positioning itself as a broader financial platform for cross-border communities, with its latest product launch extending the customer journey from sending and receiving money to spending it.