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TechCrunch
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Stripe’s former growth lead helps African diaspora invest in startups, real estate
- Joe Kinvi, former growth lead at Stripe acquired equity from Touchtech Payments that converted to Stripe shares, allowing him to bootstrap Borderless to help African diaspora invest in startups and real estate.
- Borderless, based in the U.K., processes over $500,000 in transactions and aims to direct diaspora remittances into productive assets through collective investing opportunities.
- Hoaq, an investment club Kinvi was part of, faced challenges like opening bank accounts and dealing with currency mismatches before evolving into Borderless.
- Borderless facilitates diaspora collectives in investing securely in startups and real estate, with over 100 communities on its waitlist and successful backing of projects in Kenya.
- Operates under U.K. regulations for marketing investment opportunities to diaspora investors, focusing on startups and real estate initially with plans for further asset classes.
- Ensures trust and security by handling investor funds through verified channels, embedding legal and compliance checks in the process, and generating revenue through fees and spreads.
- Borderless's mission is to unlock migrant savings and build a platform for long-term investing, supported by investors like DFS Lab, Paystack CTO, and Stripe executives.
- Challenges ahead for Borderless include scaling vetting processes for growth and ensuring robust identity verification and legal compliance.
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