Stripe’s Former Growth Lead Empowers African Diaspora to Invest in Startups and Real Estate

Joe Kinvi, formerly a growth lead at Stripe, is now enabling the African diaspora to invest in startups and real estate within Africa through his startup, Borderless. Kinvi’s journey began when he accepted stock options at Touchtech Payments, which Stripe later acquired. This experience fueled his passion for creating investment opportunities for the African diaspora.

Borderless, launched in beta last year, has already processed over $500,000 in transactions. The platform addresses the issue that while the diaspora sends billions in remittances, very little is invested productively. “The diaspora sends billions of dollars in remittances, but very little of it goes into productive assets,” Kinvi stated. “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.”

Kinvi’s initial venture into this space was with Hoaq, an investment club formed in 2020. Hoaq faced challenges such as opening bank accounts and navigating regulatory hurdles. These experiences led to the development of Borderless, a platform designed to streamline the investment process for diaspora collectives. Hoaq has invested in companies like LemFi, Bamboo, and Chowdeck.

After leaving Stripe and Paystack, Kinvi focused on building Borderless to digitize the investment process, from onboarding to disbursement. Borderless now provides the infrastructure for diaspora collectives to manage members, process cross-border payments, and deploy capital securely. There are reportedly over 100 communities on its waitlist.

Currently, collectives on the platform have supported more than 10 startups and two real estate projects in Kenya, with minimum investments set at $1,000 for startups and $5,000 for real estate. Borderless operates under U.K. regulatory cover, which allows it to market investment opportunities without violating securities laws.

Initially focusing on startups and real estate, Kinvi plans to expand into other asset classes like film and diaspora bonds. He emphasizes the importance of trust in the Borderless model, addressing the common concern that many diaspora investors have lost money through informal investments. Borderless ensures that funds are routed directly to verified sellers, escrow accounts, or lawyers, with legal and compliance checks embedded into the process.

Borderless generates revenue through transaction fees, a portion of membership dues, and FX spreads. Future revenue streams may include remittance products, payout fees, and asset management tools. Kinvi aims to unlock the $30 billion in migrant savings that remain idle each year. While companies like Zepz, Taptap Send, LemFi and NALA handle remittances, Borderless focuses on long-term investing.

Borderless has garnered support from investors including DFS Lab, Ezra Olubi (Paystack CTO), Olumide Soyombo, and executives from Stripe and Google. The $500,000 seed funding raised is being used to build a secure and scalable platform that addresses the unique needs of diaspora investors.

Kinvi’s vision for Borderless extends beyond financial returns. He wants to provide Africans in the diaspora with a secure and confident way to invest at scale, enabling them to reconnect with their home countries. However, scaling presents challenges, requiring robust identity verification, fraud detection, and legal tools.