Senit App Ltd. has been selected to join Newchip’s global accelerator program. Senit is a mobile crypto-bank that aims to revolutionize financial inclusion with its low-cost borderless payments. The company’s goal is to connect economies worldwide and give individuals a new way to regain their financial freedom. Out of over 1,000 applicants, Senit was chosen to be part of Newchip’s renowned accelerator program.
Newchip’s online accelerator offers mentorship, connections, and tools to help growth-stage teams scale their business operations and position themselves for potential exit or acquisition. Since its establishment in 2019, the equity-free accelerator has assisted more than 2,500 founders from over 50 countries and 250 cities in securing over $2.2 billion in funding, with an estimated portfolio of over $9 billion.
Brian Lee, Head of Product at Newchip, explains that they look for proven business models ready to scale quickly and disrupt their respective industries when evaluating companies for their accelerator program. He sees real potential in Senit and is excited to integrate them into Newchip’s global network of investors, angel investors, and family offices.
Senit’s mission is to offer customers a safe, trustworthy, and user-friendly platform that utilizes stablecoin technology to provide access to global financial services. By removing the complexity and pain points associated with crypto wallets, Senit empowers users to save, grow, and have control over their money.
Since its launch, Senit has achieved several milestones, including a long-term partnership with Circle to power its stablecoin payment rails, building a bank-grade infrastructure on Microsoft’s Azure cloud, securing a crypto license in Europe, and launching its mobile app on Google Play and Apple iOS app stores. The company has also piloted remittance corridors between Europe and the Caribbean using USDC.
As part of the Newchip Accelerator, Senit aims to bring its services to over 100 million underbanked individuals worldwide, provide affordable stablecoin-backed crypto banking, facilitate fee-less global fund transfers, eliminate transaction fees for global remittances, and create a completely borderless payment system accessible to anyone.
Karsten Becker, CEO of Senit App Ltd, envisions that achieving these goals will enable people in developing nations to save billions of dollars and deliver on Satoshi Nakamoto’s original vision of a true peer-to-peer electronic cash solution that anyone can use.
Senit App Ltd is building a mobile crypto-bank that harnesses stablecoin technology to enable global borderless payments. The company aims to simplify the use of crypto and empower users to access financial services in the digital age, ushering in a new era of financial inclusion.
Newchip, on the other hand, is an online global startup accelerator led by a team of entrepreneurs and investors. Since its establishment in 2019, it has helped over 2,500 startups from 50+ countries raise over $2.2 billion in funding, with an estimated $9 billion portfolio. Newchip offers three distinct six-month accelerator programs based on company stage: Pre-Seed, Seed, and Series A.