In 2017, Joe Kinvi joined Touchtech Payments in Ireland as head of finance, opting for equity over full salary due to budget constraints. Eighteen months later, Stripe acquired the company, converting his shares into Stripe stock and giving him the financial runway to eventually launch his own venture. That venture, Borderless, is now helping Africans in the diaspora invest collectively in startups and real estate across the continent.
Turning Remittances into Investment Capital
Launched in beta last year, Borderless has already processed more than $500,000 in transactions. Kinvi’s mission is to channel the billions of dollars sent in remittances into productive assets that can build wealth and infrastructure back home. By enabling collective investment, the platform allows diasporans to pool resources and invest more strategically.
A Painful Start Sparks Innovation
Kinvi’s journey toward building Borderless began during the pandemic in 2020, when he co-founded Hoaq, an investment club designed to back African startups with pooled capital from diaspora and local angels. Initially, the club faced numerous roadblocks, from frozen accounts to regulatory confusion, requiring legal help just to operate. These difficulties inspired the development of internal tools, which later evolved into the Borderless platform.
From Manual Paperwork to Scalable Infrastructure
After leaving Stripe and a stint at Paystack, Kinvi returned to solve the same problem that plagued Hoaq. He digitized the entire investment process, making it easy to onboard members, manage compliance, and transfer funds securely. As interest grew, the tool morphed into a full-service backend for diaspora collectives seeking access to vetted investment opportunities.
Real Returns Through Real Assets
Today, Borderless supports communities investing in more than 10 startups and two real estate projects in Kenya, with entry points starting at $1,000 for startups and $5,000 for property. The startup operates under U.K. regulatory coverage, giving it the legal framework to market investments safely to diaspora members. With over 100 communities on its waitlist, the platform is quickly scaling up demand.
Solving for Trust and Accountability
One of the core issues Borderless addresses is trust. Many diasporans have lost significant sums trying to invest through informal channels like family or friends. Borderless routes funds directly to escrow accounts, lawyers, or verified sellers, eliminating the risk of misused funds and embedding legal and compliance protocols into every transaction.
Revenue and Future Product Plans
The startup earns revenue from transaction fees, a portion of membership dues, and foreign exchange spreads. In the future, Kinvi envisions layering on remittance services, payout products, and asset management tools to build a full financial suite for diaspora investors. His broader goal is to unlock $30 billion in idle migrant savings annually and channel it into African development.
Backed by Users and Builders Alike
Borderless has raised $500,000 in pre-seed funding from investors such as DFS Lab, Paystack’s Ezra Olubi, Olumide Soyombo, and several executives from Stripe and Google. These backers are not just investors but active users of the platform, further validating the need for a trusted, user-friendly solution. Their support lends both credibility and experience to Borderless as it scales.
Despite early traction, challenges remain. The current model leans heavily on personal relationships and known community leaders, but scaling will require stronger identity verification, fraud prevention, and legal infrastructure. Nevertheless, Kinvi remains committed to building a platform that allows Africans abroad to invest meaningfully and securely in the continent’s future.
Source : Techcrunch