Eversend
“Can an African cross-border money account become the FX and payout API layer for the rest of the continent's fintechs?”
Founded2019
HQLondon, United Kingdom
IndustryFintech / Cross-border payments
The story
Founded 2019 as a consumer cross-border money account for African users — sending money, holding multi-currency balances, and spending via virtual USD cards. When Union54 (Eversend's card partner) collapsed in July 2022 over chargeback fraud, the virtual card program was disrupted alongside those of Klasha, Busha, Payday and others. Eversend has since evolved into a dual-sided platform: a consumer cross-border account plus an infrastructure API layer (FX, collections, payouts, crypto-fiat) targeting other African fintechs. Digital-asset custody is disclosed as Fireblocks.
Last 12 months
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Product timeline
2019
Eversend founded as a multi-currency mobile app for cross-border P2P payments in Africa· banking
2020
Launched virtual USD cards for online payments· card
2022
Virtual USD card program disrupted when card partner Union54 halted operations amid chargeback fraud issues· pivot
2024
Expanded infrastructure offering with API-based crypto-fiat collections, payouts, and FX (16 currencies, 0.9-1.5% margin)· banking
The stack
5 layers disclosed in Eversend’s embedded-finance stack
Payments / PSP
Eversend (self-operated)
Banking / BaaS
in the full report
Card network
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting gap: significant
4 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.