Nigerian Fintech Startup, Grey Collaborates With Payments Company, Cellulant to Expand in East Africa
Grey, a Nigerian finance firm, has announced a partnership with Cellulant to expand its service to East Africa, starting with Kenya.
Grey’s offerings, which include overseas bank accounts, rapid currency conversion, and international money transfers, are now available to Kenyans.
In conjunction with Cellulant, Grey has expanded its services into East Africa, beginning with Kenya, to address the issues of sending and receiving money overseas.
Grey, a fintech business financed by Y-combinator, provides a one-of-a-kind international money transfer service that allows users to send and receive foreign payments quickly and without restrictions. The company’s payment processor, Cellulant, handles thousands of Grey’s clients’ payouts.
The company demonstrated how users may build a virtual international USD, GBP, and EUR bank account for free at an exclusive ceremony attended by senior management from Grey and Cellulant on May 25 at the Radisson Blu Hotel, Upperhill, Nairobi. Users can receive payments in Kenyan Shillings or Nigerian Nairas and convert them directly.
Grey’s quick currency exchange service gives its users free virtual international bank accounts, making it easier for small enterprises, freelancers, remote employees, and content creators in Kenya to make payments.
Thousands of young Kenyans are now using digital platforms to look for jobs in the rapidly growing gig economy.
A expanding young workforce, increasing internet and smartphone use, and extensive use of mobile money are all driving the online gig economy.
With Africa’s youngest workforce and high unemployment rates, internet gig labor provides young people with alternative and accessible career options as well as a path to economic prosperity.
It was in this milieu that the idea for the company was born. Mr. Idorenyin Obong, Grey’s CEO, worked remotely for multinational corporations but had trouble accessing his foreign currency accounts.
Grey was founded in 2021 by Idorenyin Obong and Femi Aghedo, who sought to make it easier for Nigerians to convert foreign currencies to local currency and access the funds in their accounts.
Kenyans now get paid in their favorite foreign currency and withdraw immediately to M-Pesa or their local bank account thanks to the business.
If you’re visiting Nairobi, you can exchange any supported currency for Kenyan Shillings, pay for services with M-Pesa, or withdraw money to a local bank account.
Grey’s services are currently available on the Grey website in Kenya and Nigeria, and will be available on app stores soon.
