Neema
Neema, formerly known as Neema, was a fintech company based in Tel Aviv-Yafo, Israel, specializing in digital wallet applications targeting underbanked Americans.
Company History
Neema, a fintech company based in Tel Aviv-Yafo, Israel, participated in Y Combinator's Winter 2017 batch. Operating within the consumer finance sub-industry, Neema focused on providing financial services to underbanked and unbanked populations. Despite the innovative solutions it offered, the company's status is currently listed as inactive.
Services
Neema provided a digital wallet app targeted at managing and sending money. The company catered specifically to the needs of 70 million underbanked Americans. Among its services were international money transfers to 90 countries, paycheck cashing capabilities, and a debit card that could be used in stores and ATMs. These features were designed to offer financial inclusivity to underserved markets.
Target Markets
Operating out of Tel Aviv-Yafo, Neema primarily targeted the underbanked and unbanked populations in the United States. Additionally, their services were extended to multiple regions, including Israel and the Middle East and North Africa. The company's international money transfer capabilities spanned 90 countries, broadening their reach significantly.
Founders and Team
Neema's team size consisted of two core members. Although specific details about the founders are not provided, their participation in Y Combinator's W17 batch highlights the startup's initial promise and entrepreneurial spirit. The small team focused on tackling significant challenges faced by the underbanked and unbanked populations.
Fintech and Consumer Finance Industry
Neema operated within the fintech industry, particularly focusing on consumer finance. The fintech sector is known for leveraging technology to offer innovative financial services. Neema aimed to bridge the gap for underbanked individuals by providing financial tools that offered more flexibility and accessibility compared to traditional banking services.