It is growing at a really fast rate. Tekedia Capital was the first firm which invested in it. Managed by a veteran of the industry, Michael Ajayi, we like 4TraderX. The firm has also gone ahead to raise significant capital from a couple of US investors. It has extended two-way p2p remittance to multiple plays, making it possible for someone in Nigeria with Naira to source USD in US, and pay vendors in China, Brazil, etc within a really short time, all automated.
I am happy to introduce 4TraderX to the community. It is a fintech company. It is a secured, easy-to-use, and reliable peer-to-peer currency exchange platform for Africans at home and abroad where users set their exchange rate. Yes, you set your own exchange rate and when there is an attainment of equilibrium, a transaction takes place.
Every aspect of 4TraderX is fully automated. No one touches any cash – it is from one bank to another and underneath is a core technology system making good things happen. 4TraderX is fully licensed in the United States to operate in its domain.
Registration for Tekedia Mini-MBA edition 9 (Sep 12- Dec 3 2022) has started. Register here. Cost is N60,000 or $140 for the 12-week program.
Say you have N2 million in Lagos and you want to pay a vendor in China, with 4TraderX, you will get someone who needs Naira but has USD. You put the exchange you want to deal, and the person puts his, and once both agree, the system moves the funds from the accounts, and credit your vendor in China while crediting the US-based user’s bank account in Nigeria. Everything happens fast.
Visit https://4traderx.com/ and open an account. The team is building new features.
We are on a mission to transform remittance from a two-way benefactor to at least a three-way benefactor (the sender, receiver, trader, importers, travelers or workers looking to save in dollars). We also believe that you should be in control of your exchange rate as the money belongs to you, so you should be able to set your exchange rate, not remittance companies or banks.
1. Advance your career, run your business better with Tekedia Mini-MBA (Sep 12 – Dec 3, 2022): join Africa's finest business school faculty. Click and register here.
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