FinTech news in Anthemis Group category

Two years later, after the platform did not make enough revenue from developers, the team chose to go vertical to what it is today, Stax, a universal money app on USSD rails for African users. The company, founded by Ben Lyon, Jess Shorland and David Kutalek, fetches all these codes from multiple accounts together into an app users can access offline, letting them perform transactions without dialling any USSD code.

Partnering with companies rather than providing services directly to users, she added, helps Addition create a more customized offering by leveraging data on the companies’ employees and their specific financial needs.