Dash is an app that makes it easy to send, pay, receive, save, and manage your money all in one place. Built with security that can’t be broken, so you, your account, money, and payments are safe.
Dash was started in 2019 by Prince Boakye Boampong. Covid has been a big help for Dash because digitization and digital payments are now essential on the continent. All of a user’s financial needs, including sending and receiving money, making payments, and keeping track of savings, may be met by using only one app provided by the platform.
Dash App is making AliPay for Africa, which is a single wallet that works all over the continent. It works with all major Mobile Money accounts, debit and credit cards, and bank accounts in Kenya and Ghana. The startup wants to be in at least eight African countries, and more than 10 million people will be using Dash to make their daily finances easier.
How it Works
People who use Dash can send and receive money for free. Now, sending money abroad takes only a few seconds. Mobile Money is 80% less expensive than other ways to send money than other methods. When you send money with Dash, you can get it quickly at any bank or a lower cost through PayPal.
The Dash app can be used to pay bills automatically, split the bill with friends, and pay for things. You can pay your Safaricom Home, Nairobi Water, DStv, GOtv, StarTimes, or Zuku bill or add minutes to your phone. This billing process might be automated, and reminders will be sent out 5 days before each payment is due.
The Dash app gives people two ways to save money, and it can also be used to pay for business expenses like Paybill accounts and Buy Goods Till numbers. You can save every day, every week, or every month for things like a vacation, school costs, new shoes, etc.
With Dash, you can save automatically and get 5% back every year. If you save this way, you might be able to earn 15% interest each year. At a rate of 3.50% per year, Dash Reserve gives you interest on the money you put into the app every month. You can cancel, withdraw, and freeze your funds as much as you want. Both putting money into and taking money out of Dash Pots are free. Friends and family may be a great way to save money when they work together.
More transactions mean more benefits for users. The reward can be cashed in at any time after a certain amount has been earned. You can win airtime, data bundles, and KPLC tokens. Each month, the app makes a report on the user’s spending that gives a visual summary of everything they spent. When a customer has a question or concern, they can call a customer service hotline to talk to the company.
The Dash Savings feature, which makes saving money easier and more automated than it used to be, is a godsend, say the people who made it, since saving money is notoriously hard for many people in Africa. Money Market accounts, Treasury Bills, and bank fixed deposits all give lower returns than Dash savings accounts.
Dash sees the M-PESA app as a way to work together, not as a competitor.
Dash gets a transaction fee every time a user does a transaction in the Dash app. There is a small fee for transactions outside of the wallet, and you can get access to the app’s premium features by paying a monthly membership fee.
Founders
Prince Boakye Boampong
Dash was started by Prince Boakye Boampong, who is also the CEO of the company.
During Prince’s time as CEO, Head of Sales, and CPO at OMG Digital, Inc., the company’s user base grew from 0 to 8 million in the first year. Also, Prince was in charge of getting the company’s first $1.2 million in funding from investors like Y Combinator, Comcast Ventures, Social Capital, etc.
Prince also works with YouTube on content and has a deal with Opera Browser for ads and content (Google). Prince also grew the business by going into the Kenyan and Nigerian markets. As the head of sales, they were in charge of a doubling of earnings.
Advertising firms and direct clients like Promasidor, Tolaram Group, MTN, Safaricom, Airtel, Surfline, Multichoice, Kellogg, Coca-Cola, Huawei, KFC, Phillips, True Caller, Tecno, Samsung, Betway, etc. have all benefited from Prince’s expertise and teamwork.
Prince Boakye Boampong, a successful Ghanaian businessman, helped start the software development company Blue Lime, which is based in Accra. Prince got his bachelor’s degree in computer science from the Ghana Institute of Management and Public Administration.
Investors & Funding Rounds
Techstars, Musha Ventures
Dash App has been given $500,000 for its launch in Kenya and Ghana, where it will make it easier for people to send money, pay bills, and send, receive, spend, and save their own money in a completely open and safe way.
Main Competitors
Albo: It has become Mexico’s most prominent challenger bank with almost a decade of experience.
Agentero: It is making a system that is both more advanced and easier to use in the world of insurance.
Up ‘n go – Pay at the table for restaurants: It’s a quick and safe way to pay at restaurants.
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