Senit App Ltd. is among the top applicants selected for Newchip’s online accelerator. Senit is building a mobile crypto-bank whose low-cost borderless payments can help to usher in a new era of financial inclusion. The company’s goal is to connect the world’s economies and give people a new way to take back their financial freedom. Senit was accepted out of 1,000+ applicants into Newchip’s renowned global accelerator program’s latest cohort.
The online accelerator provides the mentorship, connections, and tools that growth-stage teams need to drive greater scale, expand business operations, and position their company for potential exit or acquisition. Since its inception in 2019, the equity-free, fully digital accelerator has helped over 2,500 founders from more than 50 countries and 250 cities raised over $2.2 billion in funding with an estimated portfolio of over $9B.
“When evaluating companies for our Series A Accelerator, we search for proven business models that are prepared to scale their strong revenues and traction quickly in order to gain further market share and increase their likelihood of industry disruption,” says Brian Lee, Head of Product at Newchip. “We see real potential in (Senit ) and are excited to integrate them into our global network of VCs, angel investors, and family offices seeking to invest in this particular space.”
Senit is on a mission to offer its customers a safe, trustworthy, and user-friendly platform that uses stablecoin technology to provide them with access to global financial services and educate them about the benefits and opportunities it provides. By removing the complexity and pain points associated with using crypto wallets, we empower our users with a new way to save, grow, and control their hard-earned money.
Since launching, the company has:
- Entered into a long-term partnership with Circle to power its stablecoin payment rails
- Built a bank-grade infrastructure and deployed it on Microsoft’s Azure cloud
- Secured a crypto license in Europe, and applied for licenses in the UK and USA
- Launched our mobile app on the Google Play and Apple iOS app stores
- Piloted remittance corridors between Europe and the Caribbean using USDC
Being part of the Newchip Accelerator, we are looking forward to:
- Bringing our services to over 100 million underbanked people around the world
- Helping people gain access to the affordable stablecoin-backed crypto banking
- Making it easy for people to send and receive funds around the world without fees
- Driving the cost of global remittances down to zero from as high 10% transaction fee
- Creating a completely borderless system of payment that anyone can access
“Achieving these goals will help people in developing nations to save billions of dollars, and make the world a better place by delivering on Satoshi Nakamoto’s original vision of a true peer-to-peer electronic cash solution that anyone can use.” – Karsten Becker, CEO, Senit App Ltd
About Senit App Ltd
Senit is building a mobile crypto-bank that uses stablecoin technology to deliver on the promise of global borderless payments. By eliminating the complexity of using crypto today, we empower our users with a safe, trustworthy, and user-friendly way to access financial services in the new digital age in order to usher in a new era of financial inclusion. Find out more about us at www.senit.com.
Newchip is an online, global startup accelerator led by a world-class team of entrepreneurs and investors. It was designed to provide founders with the tools needed to rapidly fund, build, and scale. Since its inception in 2019, the equity-free, remote accelerator has enabled over 2,500 startups from 50+ countries to raise over $2.2 billion in funding with an estimated $9B portfolio. It has three distinct six-month accelerator programs based on company stage: Pre-Seed, Seed, and Series A. Its vast network of global investors, strategic partners, and mentors guide companies from team building and prototype development to securing high-profile VC investment, corporate partnerships, and everything in-between. To learn more, visit https://launch.newchip.com.