Mama Money: Moving money for migrants
Next step will be insurance, especially for funerals
01 August 2024 - 05:00
The short-term insurance market is the scheduled next step for fintech company Mama Money. With about 20% of the remittance market in South Africa and a banking product for foreign nationals that attracted more than 10,000 users in three months, Mama Money is eyeing financial products for migrants.
“Our customers have asked us for insurance, specifically funeral insurance because of the repatriation costs if someone passes away in this country,” says Matt Coquillon, co-founder of Mama Money. “We’ll partner with an insurance company on that.”..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.