Send App by Flutterwave Collaborates with MainStreet Bank to Extend Remittance Reach to 49 U.S. States

Flutterwave, Africa's leading payments technology company, today announced the expansion of its Send App service across 49 U.S. states through a partnership with MainStreet Bank, a subsidiary of MainStreet Bancshares Inc. (Nasdaq: MNSB and MNSBP). Send App by Flutterwave facilitates faster, easier, and more affordable money transfers from Africans in the diaspora to their families and friends back home. Other key features of Send App include real-time support and exchange rate updates, an activity section that tracks transactions in real-time, and a new voucher and referral code section. Remittances to Africa have doubled over the last decade, reaching an estimated $100 billion in 2022, according to the United Nations, supporting the medical bills, education costs, and living expenses of an estimated 200 million Africans. The importance and necessity of staying connected, no matter the distance, is a key driver of this expansion. Since its initial launch, Send App has quickly established itself as a trusted platform for Africans in the diaspora, offering a simple and affordable way to send money to loved ones across Africa. Send App’s U.S. coverage has grown to 49 states today (all except Texas). The U.S. expansion will build on Flutterwave’s success and reinforce its commitment to serving African diaspora communities globally with a payment solution that fits their needs. “As a customer-focused, tech-forward community bank, MainStreet Bank understands and prioritizes investment in communities, which makes it a great fit for Flutterwave’s goal to build bridges that connect Africa to the world,” said Olugbenga “GB” Agboola, Founder and CEO of Flutterwave. “Our partnership with MainStreet Bank underscores our dedication to providing secure, regulatory compliant, and efficient financial solutions. This has further strengthened the safety and security of our customers' funds and data, ensuring that Send App remains a reliable remittance solution that gives Africans in the diaspora peace of mind with every dollar they send back home. We care deeply about our diaspora community, who we expect to play a major role in Africa’s next phase of growth.” Todd Youngren, President of Avenu, a Division of MainStreet Bank, said the Flutterwave relationship is a great fit for Avenu, an embedded banking platform with fully integrated compliance and risk management. “We are proud to partner with Flutterwave as they expand Send App across the U.S.”