VipiCash receives NOK 2.2M in funding for a money transfer solution.

VipiCash, an Oslo, Norway-based startup working on a money transfer solution, closed NOK 2.2M in investment funding.

The money comes from local investors, including Founders Fund and angel investors Davide de Picciotto, Frithjof Frederiksen and Olav Folkestad. The company, a Startup Lab member, also received funding from Innovasjon Norge.

VipiCash, founded in 2017 by CEO Olivier Mukuta, developed at ransparent and trackable digital payment system for remittance and aid, acting as a digital marketplace for vendors, money senders and receivers. The company has come up with a solution to a problem for refugees and immigrants who send money home to their families and thus has a broader aim to eradicate corruption and mismanagement of funds sent to Africa, Asia and Latin America.