Ghanaian fintech startup Seevcash has secured an award valued at $142,000 in XLM from the Stellar Community Fund. The open-application program, run by the Stellar Development Foundation, backs Web3 teams building real products on the Stellar network. Seevcash says the funding will accelerate product development and expand access to affordable digital financial services for unbanked and underbanked users.
The Award and What It Means
The grant is denominated in XLM, the native asset of the Stellar blockchain that enables low cost, fast settlement across borders. Because XLM functions as a bridge asset on Stellar, value can move between currencies without traditional intermediaries. For Seevcash, that technical fit supports its aim to make cross-border payments simpler and cheaper for everyday users.
Company Roots and Leadership
Founded in 2022, Seevcash is led by CEO Dawuda Iddrisu, CPO Charles Owusu, and CTO Cosmos Appiah. The team is building a single platform that allows users to create a U.S. bank account, send and receive money, invest, and transfer funds at low cost. Their product direction targets pain points that keep many individuals outside formal finance, including high fees, rigid onboarding, and fragmented services.
Mission Driven by Lived Experience
Iddrisu says the company’s mission grew from first-hand encounters with exclusion in both Ghana and the United States. Family members in Ghana faced high interest rates and documentation hurdles that limited access to banking, while similar frictions surfaced in the U.S. experience. Those observations shaped a straightforward goal for the product, making moving money effortless, affordable, and accessible for everyone.
Product Focus and Near-Term Roadmap
Seevcash plans to use the new funds to scale its Send and Request Money feature and to strengthen app security. The company also intends to leverage stablecoins issued on Stellar to deliver transparent and user-friendly cross-border payment flows. Expansion efforts will prioritize reaching more users globally while improving reliability and compliance readiness.
Why Stellar Matters for the Use Case
Stellar’s design emphasizes fiat on- and off-ramps, asset issuance, and path payments that can lower costs for small transactions. By tapping XLM and Stellar-based stablecoins, Seevcash can route payments in ways that minimize friction between currencies. This architecture is aimed at practical outcomes for users, faster transfers, clearer fees, and less dependency on legacy correspondent banking chains.
The Inclusion Gap Seevcash Is Targeting
Financial exclusion persists across both emerging and mature markets, where identity requirements, fee structures, and documentation standards can be significant barriers. Remittance corridors also remain expensive in many routes serving African communities and diaspora populations. A platform bundling accounts, transfers, and investment tools seeks to reduce the number of steps and vendors a user needs to navigate.
Signals for African Fintech and Web3
The award underscores growing confidence in Africa-led fintech teams that apply blockchain infrastructure to real payment problems. Rather than speculative use cases, the emphasis here is on compliance-aware rails, consumer security, and predictable user experience. If execution matches the roadmap, the approach could help connect local users to global systems while reducing time and cost.
What Success Would Look Like
For Seevcash, traction will depend on how quickly it can convert the grant into measurable improvements in speed, reliability, and coverage. Security and fraud controls must scale alongside feature growth to safeguard customers and partners. Strategic integrations with on-ramp providers, stablecoin issuers, and compliance vendors will likely be decisive for cross-border reach.
Seevcash’s $142,000 XLM award from the Stellar Community Fund provides targeted fuel for a product focused on inclusion and utility. With a team led by Dawuda Iddrisu, Charles Owusu, and Cosmos Appiah, the company now has resources to accelerate payments features and expand responsibly. The next phase will test whether its Stellar-powered approach can turn cost and complexity into a simpler, safer experience for the unbanked.