Waya, a newly-launched online banking and money remittance founded by two Kenyan immigrants in the US, is hosting a presentation on Saturday in Seattle, Wa.
The presentation meeting will be held at Comfort Inn located at 31622 Pacific Hwy S, Federal Way, WA, 98003, at 6 pm PST.
Waya Co-Founder Dr. David Waigwa Wachira and Waya’s Chief Partnership and External Relations Officer, Dr. Robert Chiuri, will represent the start-up at the Seattle presentation.
Wachira, and Waya CEO Hempstone Maroria co-founded the company in 2018 after seeing a need to provide a cost effective banking and money transfer service to immigrants in the US.
SEATTLE WAYA PRESENTATION: LOCATION:Comfort Inn located at 31622 Pacific Hwy S, Federal Way, WA, 98003,
TIME: 6 pm PST.
As the race to providing technological solutions in Africa heat up, Maroria and Wachira have taken a leading role in putting Africans at the forefront of innovation.
The company has been received with excitement within the Kenyan community because it’s one of the most promising start-ups founded by Kenyans and understands the struggles immigrants in the US undergo when dealing with international financial institutions.
“Waya is on a mission to digitize banking and remittances to the US immigrant community,” Wachira, who has worked with the World Bank, said in an email.
A brief document about the company provides quick details about the start-up.
“Waya is a neobank that provides checking accounts, cards, and other payment and banking services to immigrants and other underserved communities in the USA and globally,” the Waya brief said.
As a platform, Waya would make it easier to transfer money and offer virtual banking services tailored to serve the African and immigrant community, whose needs are often overlooked by mainstream banks.
“Waya’s mission is to empower people, especially immigrants and foreign-born individuals that are underserved, unbanked, and often overlooked by traditional banking channels, to take control of their finances,” the brief further said.
The Seattle presentation is expected to offer Kenyans an opportunity to interact with the founders and give them an overview of using the Application and taking advantage of its services.
And the people are eagerly waiting for them.
“One of own sons David Waigwa Wachira, a highly educated Ph.D. holder, together with other colleagues from the World Bank, have started Waya, a financial technology company,” John Kimani, Chairman of North West Kenyan Community Association said.
Waya joins a competitive market where they’ll compete with established remittance companies such as Send Wave, Remitly, and Western Union, among others.
But the market remains large for more players to join.
According to their report, Waya estimates there are 44 million immigrants living in the US. The immigrants contribute $1.3 trillion to the US economy annually and pay almost $500 billion in taxes.
They’re hoping to tap into that output by helping immigrants with tools to manage their finances and providing immigrant entrepreneurs with the financial support to fuel their businesses.
According to Waya’s website FAQ section, the platform is currently available as a mobile application to transfer money to Kenya, Ghana, and Nigeria.
The app is available for download on Apple Store and Google Play store.