YallaXash extends its network to West Africa

YallaXash, a fintech specialized in remittances transfers, is expanding its network in West Africa with the opening of new corridors in Côte d’Ivoire and Senegal. This opening was done through its partner ATPS, a subsidiary of M2T, operating under the Proximo and Atlantique Cash brands which has over 10,000 distribution points in West Africa.

This is a first step in the company’s expansion plan, which is in the process of integrating its solution into the entire network of its partner ATPS, namely in Niger and Mali.

The opening of these corridors allows YallaXash to offer its customers in North America, the ability to send funds to West Africa, in addition to Morocco, which is operational since 2019.

As a reminder, YallaXash had raised 6 million dirhams from Maroc Numeric Fund II (MNF II) in June 2021. Encouraged by its achievements, MNF II has made an additional investment of 4 million dirhams, allowing to finance the ambitious development plan of YallaXash.

The app is available for free on Android and iOS with withdrawal fees starting from 0.99 USD. To make a transfer, all the sender needs to do is have an account on the app and top it up directly using his bank details. Once the account is topped up, the sender can choose the amount he wants to transfer to the recipient and the channel to receive the money. If he chooses cash withdrawal or a mobile wallet, the money is available to the beneficiary in 30 seconds. If he chooses the bank transfer, the beneficiary receives the money within 48 hours.

The current YallaXash network is multi-channel. It is composed of more than 12,000 physical points through the different partners (Chaabi Cash, Barid Cash, Damane Cash and Proxicash/Atlantique Cash), in addition to the bank branches of the Banque Centrale Populaire, Al Barid Bank and Bank of Africa, as well as the Chaabi Pay wallet solution.