Joe Kinvi's journey from Touchtech Payments to founding Borderless exemplifies the potential of diaspora investment in Africa. After negotiating stock as compensation when joining Touchtech, Kinvi gained valuable experience, which he later applied in the creation of Borderless. Launched in 2022, the platform aims to channel diaspora remittances—often spent in non-productive ways—into collective investments in startups and real estate. Despite challenges like banking restrictions and regulatory hurdles, Borderless has successfully processed over $500,000 in transactions, demonstrating a promising solution for diasporic contributions to African economies.
When Joe Kinvi joined Touchtech Payments in 2017 as head of finance, the Irish startup couldn't afford his full salary. So he negotiated for stock to make up the difference.
The diaspora sends billions of dollars in remittances, but very little of it goes into productive assets. We think that there is a world where, if we can bring the right collective to the right type of investment opportunities, it'll make it a lot easier for them.
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