Taptap Send is an app that lets immigrants send money back home to Africa instantly and at very low prices. Since launching in summer 2018, we’ve already moved tens of millions of dollars and reached tens of thousands of customers. We’re live in seven European countries, and we support payments into Senegal, Mali, Zambia, Ghana and the Ivory Coast, with more countries launching soon.
Global remittances account for over $500 billion annually, most of which moves back into developing countries. But the market is dominated by traditional services that are expensive, can take days to arrive, and have limited reach in rural areas. We're helping people to send that money instantly and securely at a fraction of the cost. In doing so, we are working on making the UN Sustainable Development Goal of bringing cross-border remittance costs down to 3% by 2030 a reality today.
Taptap Send is a venture-backed start-up with investors including Reid Hoffman, Helios, Omidyar Network, and the Global Innovation Fund. Taptap Send was spun out of Segovia Technology in July 2019, as part of Segovia's sale to Crown Agent's Bank. We pride ourselves on hiring exceptional talent -- our team members come from a wide variety of top-tier tech companies, professional services firms, and industry leaders, including Twitter, Yahoo, Uber, Amazon, McKinsey, Bain & Co, Deloitte, KPMG, Cravath, and Vodafone.