Ewala 1A

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The Worldbank estimates that more than € 580 billion of remittance is sent back home to provide support to relatives. The United Nation estimates this amount to be two times larger than all foreign aids combined altogether.

Therefore, in the past few years, the remittance market has caught up the attention from different actors such as supranational institutions, financial institutions and the Bitcoin community.

Now, because of mobile digitalization in emerging economies (mobile money) new opportunities are entering the picture. It is a once in a lifetime chance to be part of a transforming and highly lucrative industry which makes the world go round.

Ewala started to connect mobile telecom operators on a platform to give people access to airtime remittances cross borders. Airtime permits users to send micro mobile units’ starting from 0.10€ to 30€’s to more than 400 mobiles operators. This helps people to have phone credit and data

In a second phase, Ewala wants to tap into the money remittance market in Belgium to disrupt it.

The goal we want to reach with this capital raise is

1) Optimize the airtime product.

2) Scale airtime product.

3) Acquire the mandatory license from the Belgium National Bank to launch our remittance business.


5 € Billion's of remittances are being sent from Belgium to the rest of the world. We identify several pains millions of people have to go through to send money abroad.

1) It's Slow. It can take up to 20 minutes to make a transfer. You have to find an agency, then you have to fill up a form and wait for the agent to take a photocopy of your I.D. card. On the receiving end, the person has to travel from one city to the other to pick up the money.

2) It's Expensive. Sending money through traditional money transfer channels is very expensive. It is estimated that the average fee per transfer is 15%. If someone wants to send money from Belgium an average person has not much of a choice but to transfer that money through a money transfer agency (brick & mortar).

3) It's Risky. Last but not least, sending money in cash is dangerous. When you receive the cash it can be lost, robbed and cash is difficult to trace.


Ewala resolves these different problems by offering individuals and organisations an innovative platform to transfer money across mobile phones to emerging markets.Ewala will be an one stop shop that empowers these users to send mobile money across borders in three clicks at a fair cost. No more waiting in line, no more hidden fees and no more need to travel far away to transfer money.

The steps are simple.

1) Choose the person you want to send the funds too.

2) Select the amount you want to send.

3) Pay for your transactions with no hidden fees. If you're an organization or a frequent remitter, Ewala will be the ideal platform for you to use.

Marketing strategy

Our marketing strategy is based on catching the attention of the right people, at the right place through the right channel at the best price.

In our company, we believe in analytical marketing. This means that any intuition we test and we measure it. Throughout our MVP phase, Ewala has been very active in using lean marketing strategies to get customers at a low cost.

No matter what funnel we test. We made sure our clients went through four steps:
1) Acquisition.
2) Activation.
3) Revenue.
4) Retention.

As we're stepping towards the next phase, we’re optimizing each step to improve our funnels.
In the next stage, we’re adding new important steps which we want to focus on.

5) Referral

We will continue using low cost & fast experimentation to make sure we can have most learning as possible in a short period of time.

We will optimize to get more out of our clients. Adding new services such as money transfer to up sell the average basket from €8 to €250's.

Distribution strategy

1. Retail (shops)

Once the user is on the platform, they can upload money immediately and resell airtime & data to their clients. In exchange, the retailers receive a commission.
In the last 8 months, we went to more than 250 shops, developed 80 retails, got 40 active shops and generated €70,000's of gross revenue. The profit margin of Ewala is 5%.

2. NGO

Similar to the retail. It is an account that can be used on the Ewala platform. The difference is that they recharge mobiles for the purpose of their organization.
From November to December our pilot test result was above €10,000. On this channel we make a profit of 5%.

3. Online Customers

Since we started we never focused on online acquisition. In this next phase we will do A/B test on Facebook advertisement and Google advertisement to reach new clients.
About 10% of our clients use Ewala online. This channel brings a profit of 15%.

Internationalisation strategy

Until 2019 we will focus on Belgium, Luxembourg and the Netherlands. With the european licence for remittencies, we will be able to reach communities in all major cities in Europe.
Our strategy will still be based on virality within each community to keep client acquisition cost very low.

Major contracts

Our company has not concluded major contracts that could have a material impact on its financial results.

Main partners

  • For the international top up market, we have partnership with aggregators that allow us to connect more than 400 telecoms operators in more than 140 countries.
  • For the local mobile market, we already have some direct partnership or through a wholesaler with all the local operators (Lyca, Vectone, Base, Orange, Proximus)
    For the mobile money, we will have partnership with aggregators of multiple mobile money, banks & cash pick up corridors.