SantimPay Launches Fundraising platform

SantimPay, a financial solutions provider, launched a fundraising platform, SantimFundMe, at the Hilton Addis Hotel on Thursday. Designed as a local alternative in the community-based finance mobilization space, the platform aims to compete with international players.

SantimFundMe enables individuals, organizations, and causes to raise funds for a range of needs, including personal, educational, and medical expenses. Several stakeholders from local charities attended the launch, expressing interest in utilizing the platform. 

Integrated with telebirr, M-Pesa, and nearly 10 banks, as well as supporting Mastercard and Visa, the platform charges a 1% service fee. According to Tensaye Desalegn, CEO & Co-founder of SantimPay, donations from abroad will be paid out based on the daily foreign exchange rate. 

The fundraising platform also offers real-time tracking of campaign progress and supports anonymous donations. Built in-house, each charity host receives a personal dashboard, and the platform currently operates in three languages.

During the event, Board Chairman Daniel Kitaw (Prof.) emphasized the collaborative efforts of both the younger and older generations in driving SantimPay’s operations forward.

Licensed by the National Bank of Ethiopia as a Payment Gateway Operator and Point of Sale (POS) Operator in July 2022, SantimPay has achieved significant growth. In its first year, the startup processed transactions totaling over six billion birr. Currently, the company handles around half a million transactions daily, amounting to 110 million birr.

Looking ahead, SantimPay expects to facilitate five billion birr in monthly transactions and has already processed over 25 billion birr this year.

"We definitely have plans to participate in the capital market," Tensaye told Shega.