Core Insights - Whish Money has obtained financial services licenses in Canada, marking its first regulatory approval outside the MENA region, which is a significant step in its global expansion strategy [1][2] - The company aims to establish a regulated presence in various markets to create a financial ecosystem that connects communities worldwide [1][2] - Whish Money's expansion aligns with a trend among MENA-based tech firms seeking growth in Western countries, particularly those with large diaspora populations [3] Company Strategy - Whish Money establishes locally incorporated entities to comply with regulatory frameworks, ensuring transparency, security, and regulatory compliance [2] - The firm is actively seeking similar licenses in other key markets, including Australia, the UK, the US, and the European Union [2] - The company's vision is to evolve from a regional payment service to a comprehensive financial platform [4] Partnerships and Collaborations - Whish Money has formed alliances with global financial entities such as Visa, Terrapay, and Ria to bolster its expansion efforts [4] - In August 2025, Whish Money partnered with Mastercard to offer remittance services in Lebanon, utilizing Mastercard's Move solutions for transactions with over 50 countries [5] Market Context - The company plays a significant role in providing digital financial services amid Lebanon's economic crisis and banking sector challenges [4] - Whish Money's efforts reflect the broader goals of regional fintech counterparts aiming to capture a share of the global remittance industry through modern payment technologies [3]

Core Insights - Africa's financial technology sector is experiencing significant growth in investor interest, with Moniepoint emerging as a key player in the region [1] - Moniepoint, based in Lagos, has raised a total of $200 million, including a recent $90 million funding round [1] - The funding round was backed by major global investors, including Visa [1] Company Summary - Moniepoint offers a range of services including payments, banking, and remittance [1] - The startup's recent funding highlights its influence and potential in the African fintech landscape [1]

Core Insights - barq, a digital wallet in Saudi Arabia, has partnered with Thunes to enhance its international remittance services, allowing users to send money globally in real-time [1][2] - The partnership aims to strengthen barq's market presence by providing comprehensive financial solutions, aligning with Saudi Arabia's Vision 2030 for a digital-first financial ecosystem [2][3] Company Developments - The collaboration was initially announced in 2024, focusing on expanding service reach and reliability for customers in the region [2] - Thunes' MENA vice-president highlighted the partnership's impact, emphasizing a commitment to efficient, customer-focused payment experiences [2][3] - barq's International Partnerships director stated that the collaboration has transitioned from vision to reality, empowering customers with faster and more reliable remittances [3][4] Industry Context - Saudi Arabia's remittance sector is one of the largest globally and is rapidly evolving due to the Vision 2030 program, which promotes advancements in digital payment systems [2][3]

Core Viewpoint - The article discusses the potential growth and market share gains of fintech companies SoFi Technologies and Remitly Global, suggesting they will outperform Upstart Holdings in the coming years [1][5][13]. Group 1: SoFi Technologies - SoFi Technologies has shown a strong recovery, generating positive earnings and reaching a customer base of 11.75 million, growing at a 51% compound annual rate since 2021 [3][4]. - The company's total revenue grew by 44% to $855 million in the last quarter, with net income increasing by 479% year over year to just under $100 million [4][5]. - SoFi's market cap is currently around $25 billion, with a price-to-earnings ratio (P/E) of 46, indicating potential for future growth as it expands its operations as an online bank [5]. Group 2: Remitly Global - Remitly Global, with a market cap of $3.3 billion, is a remittance services provider that has faced challenges but continues to show promise [8]. - The company reported a 34% year-over-year revenue growth to $334 million, with net income of $11 million, supported by strong unit economics and low fixed costs [11]. - With a revenue base of $1.356 billion, Remitly has the potential to achieve a market cap larger than Upstart if it continues to gain market share in the remittance sector [12]. Group 3: Upstart Holdings - Upstart Holdings has struggled to generate sufficient profit, projecting only $35 million in total net income for 2025, leading to a forward P/E of over 100 [14]. - The company has a high cost base due to significant spending on customer support, technology development, and marketing, limiting its ability to disrupt traditional lending methods [14][15]. - Upstart remains a niche player in the lending space, with a challenging path ahead compared to the brighter prospects of SoFi and Remitly [13][15].

Financial Data and Key Metrics Changes - The company reported first quarter revenue of $361.6 million, representing a 34% year-over-year increase, and adjusted EBITDA of $58.4 million, resulting in a 16% adjusted EBITDA margin, marking a "rule of 50" quarter [32][33] - Quarterly active customers increased by 29% year-over-year to over 8 million, with send volume per active customer growing by 9% year-over-year, the highest growth rate since 2021 [33][34] - Send volume grew 41% to $16.2 billion, outpacing revenue growth, with a gross take rate of 2.24% [34][35] Business Line Data and Key Metrics Changes - The U.S. revenue grew 35%, accelerating from 33% in the previous quarter, while revenue from regions outside of India, the Philippines, and Mexico grew 45% year-over-year [35][36] - The company launched remittance services to Nigeria, Burkina Faso, and Mali, expanding its geographic footprint and increasing pay-in and payout options [15][16] Market Data and Key Metrics Changes - Revenue from the rest of the world grew 41% year-over-year, indicating strong performance outside of traditional markets [36] - The company reported that over 93% of transactions were dispersed in less than an hour, and more than 95% of transactions proceeded without customer support contact [25][26] Company Strategy and Development Direction - The company aims to diversify its business across various dimensions, including geographic expansion and new product offerings, to capture more growth and reduce risk [14][15] - The focus on building trust with customers is central to the company's strategy, as evidenced by high transaction reliability and customer satisfaction metrics [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of remittances amid macroeconomic uncertainties, highlighting the essential role of remittances in household stability [11][29] - The company raised its full-year outlook for both revenue and adjusted EBITDA, reflecting strong customer engagement and retention [9][44] Other Important Information - The company has embedded resilience into its foreign exchange management, which has become a competitive advantage [12][13] - The company continues to innovate and explore adjacent offerings, such as faster cross-border payments and fund storage solutions [21][22] Q&A Session Summary Question: What is driving the increase in send volume per active user? - Management indicated that increased engagement, higher send limits, and growth in high dollar senders contributed to the increase in send volume per active user [53][54][55] Question: Are there any environmental factors affecting the numbers? - Management noted that the majority of revenue comes from prior quarter cohorts, providing high visibility and confidence in future growth [62][63] Question: Can you elaborate on direct partner integrations? - Management highlighted that direct integrations lead to faster transactions, lower costs, and improved reliability, contributing to customer satisfaction [66][67][68] Question: What is the strategy for high dollar senders and micro business customers? - The company plans to tailor products and marketing strategies to effectively serve high dollar senders and micro business customers, capitalizing on existing demand [82][83][84] Question: What is the significance of the WhatsApp partnership? - Management expressed excitement about the WhatsApp integration, viewing it as a significant opportunity for customer acquisition and improved service delivery [86][87][88]