Bamboo, an investment platform that gives Africans the tools to build wealth, has introduced Misan by Bamboo, a robust remittance app and virtual USD card service to empower Africans with remittance and virtual card tools.
This strategic expansion positions Misan as a pivotal solution for seamless money transfers and global digital transactions across the continent.
Addressing the growing need for efficient and transparent financial solutions, Misan by Bamboo enables direct transfers to a wide network of countries and offers versatile Virtual USD Cards. These tools empower individuals and businesses to navigate international payments with ease.
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Speaking on the launch of this service, Bamboo’s co-founder Yanmo Omorogbe said,
“We built Misan by Bamboo to provide simple, clear ways to manage money, no matter where you are. With powerful tools like our virtual USD cards, users can manage their finances smoothly across Africa’s diverse economies.”
Misan by Bamboo makes it simple, fast, and affordable to send, spend, and receive money globally. The service has enhanced Pan-African transfer capabilities that allow faster, more reliable money transfers to over 15 African countries, strengthening financial connections for families, friends, and businesses. This advancement promotes regional financial integration by overcoming traditional cross-border payment challenges.
Additionally, Misan’s Virtual USD Card offers instant access to global online marketplaces, supporting e-commerce purchases, subscriptions, and international bill payments. With instant issuance and competitive exchange rates, the card provides users with unparalleled freedom in the digital economy.
Notably, Misan by Bamboo’s full suite of features enables users to manage international payments and engage in global commerce directly from their mobile devices. This initiative reflects Bamboo’s commitment to driving financial inclusion and economic integration across Africa through innovative digital solutions.
It also provides virtual USD cards for online payments, enabling Africans to shop on global platforms like Google Ads, PayPal, Apple, and e-commerce sites. The virtual cards are designed for secure online transactions, supporting freelancers, remote workers, and businesses managing subscriptions or international payments.
Misan enters a competitive remittance market dominated by established players like Western Union, Wave, and newer fintechs like GeegPay, Grey, and Bitnob. Bamboo leverages its Canadian Money Service Business license and U.S. broker-dealer license (secured in 2024) to ensure regulatory compliance and trust.
Founded in 2019 by Richmond Bassey and Yanmo Omorogbe, Bamboo provides real-time access to global investment opportunities, particularly in the U.S. and Nigerian stock markets. The platform enables Africans to invest in stocks, ETFs, and fixed-income products with as little as N15,000 (USD 10), using fractional investing to make wealth-building accessible. It has over 500,000 registered users, with 75% being first-time investors, and offers a user-friendly mobile app for trading and portfolio management.
In 2024, Bamboo launched “Coins by Bamboo,” a remittance app backed by a Canadian Money Service Business license, targeting Nigerians in the diaspora for affordable money transfers, initially in the Nigeria-Canada corridor, with plans to expand to the UK. It also facilitates donations to charities like Women at Risk International Foundation.
Bamboo aims to democratize wealth creation for Africans, addressing barriers like high fees and limited access to global markets. By offering virtual USD cards and low-cost remittances, it addresses the challenges of accessing international financial instruments in Africa, where local banking restrictions and currency volatility are common barriers.