Nigerian entrepreneur Damisi Busari's startup acquires U.S.-based fintech firm

Timilehin Adejumobi -

Key Points

  • SendsPrint led by Damisi Busari acquires Nobel Financial, enhancing its U.S. presence to offer money transfer and gifting services from 16 states to African nations.
  • Nobel Financial’s compliance team, led by Scott McClain, transitions to SendsPrint, ensuring strong oversight during U.S. expansion.
  • The acquisition strengthens SendsPrint’s commitment to providing fast, secure, and affordable financial services to the African diaspora.

SendsPrint, a Nigerian cross border fintech startup led by Nigerian entrepreneur Damisi Busari,  has acquired Nobel Financial, a U.S.-based global remittance service provider, to enhance its footprint in the American market.

Nobel Financial, founded in 2014, offers remittance services from the U.S. to over 32 countries, including African, Latin American, Asian, and Middle Eastern markets. It also facilitates the sending of in-kind gifts such as rice to African recipients. Over the past decade, Nobel has served over a million customers worldwide.

This strategic move will enable SendsPrint to offer money transfer and gifting services across 16 states, including New Jersey, Maryland, and Georgia, to recipients in Nigeria, Ghana, Kenya, and other African countries.

SendsPrint looks to capitalize on U.S. opportunity with Nobel deal

“We recognized significant value in Nobel Financial, which underpinned this acquisition. The U.S. market presents a substantial opportunity for us, and we’re eager to bring our people-focused technology and deep understanding of African diasporas to ensure our expansion is successful,” said Damisi Busari, CEO and founder of SendsPrint.

As part of the acquisition, Nobel Financial’s Chief Compliance Officer, Scott McClain, and his team will join SendsPrint. McClain will continue his role at SendsPrint, ensuring strong oversight as the company scales its U.S. operations.

Fintech startup SendsPrint targets Africa’s growing remittance market

Established in 2022 by former Flutterwave executive Damisi Busari, SendsPrint provides a flat fee of $5 for cross-border transfers. With operations in the U.S., UK, Ghana, Kenya, South Africa, and Nigeria, the company promises swift transactions, often completed within 30 minutes, and secured by advanced measures like two-factor authentication and real-time monitoring.

Under Damisi Busari, SendsPrint is dedicated to enhancing the African diaspora experience through innovative technology, strategic partnerships, and comprehensive financial services. The startup has partnered with over 3,000 retailers across Africa, including major players like Shoprite and Jumia, to facilitate gift card transfers throughout the continent.