Mike Quinn is the CEO of Zoona, A Zambian born money transfer service. Zoona charges money senders between two and eight percent per transaction, with the recipient not being charged for a cash-out. Building money transfer networks across its markets, Zoona targets young women and aims to make on-boarding new agents as female-friendly as possible. Seventy percent of their outlets are owned by women and 85% of those staff are women. The company has over 1000 entrepreneurs running over 1500 outlets, who have created 2500 jobs. Since launching, the company has processed over US$1-billion in transactions with over US $20-million a month in transactions.
On this episode you'll learn:
-What has Mike's experiences been raising all types of capital including venture capital, grant money, and corporate investments
-How similar or different are the Zambian and Malawian markets?
-How does Zoona hedge against the risk of currency value fluctuation?