The Borderless platform is becoming an essential tool for the African diaspora seeking to invest back in their home continent. It addresses the challenges faced by investors and offers reliable solutions.
The Story Behind Borderless
The Borderless platform was born out of a necessity identified by Joe Kinvi, co-founder of HoaQ Club, which has over 800 members and has deployed over $3.7 million into African ventures. The first version of Borderless (formerly PLTFM) was developed to streamline the management of the club's operations and reduced manual work by 80%. Kinvi stated: “*This inspired the development of the Borderless platform because we have seen the growth that has happened with HoaQ; we need more collectives to go from scattered chat threads to structured investment processes so they can scale their impact easily.*“
Overcoming Challenges
Diaspora investors often grapple with issues of trust, lack of visibility into vetted opportunities, and the complexities of managing group investments across borders. Borderless addresses these pain points by providing secure investment conditions, managing KYC processes, and complying with regulations.
Future and User Impact
Borderless allows many diaspora investors to go beyond remittances and directly participate in ownership projects and support local entrepreneurs. The platform has already facilitated over $500,000 in transaction volume and boasts over 1,000 members in active collectives. Looking ahead, Borderless plans to expand its offerings and achieve significant impact on the African economy.
In recent years, the Borderless platform demonstrates the potential to transform the investment activities of the African diaspora. With upcoming expansions, it aims to significantly influence the continent's future.
