# Stellar Development Foundation Enterprise Fund Invests $5 Million in Wave

> The Stellar Development Foundation announced a $5 million investment in Wave, an African mobile money app serving over 10 million users across five countries. The investment supports Wave's integration with Stellar to expand affordable financial services across Africa.

**Metadata**

- Published: 2022-10-24
- Original publisher: `stellar.org`
- Original article: https://stellar.org/press/stellar-development-foundation-enterprise-fund-invests-5-million-in-wave
- Tags: Financial Inclusion, Partnerships

## Summary

The Stellar Development Foundation (SDF) announced a $5 million USD Enterprise Fund investment in Wave, a mobile money platform operating across Senegal, Côte d'Ivoire, Uganda, Mali, and Burkina Faso. Wave serves over 10 million monthly users through a network of 30,000 agents, offering free deposits, withdrawals, merchant payments, and bill payments, plus affordable money transfers. The investment supports Wave's integration with the Stellar network to optimize financial services for underserved populations in Africa. Both organizations share a mission to provide equitable access to financial products globally, with Wave aiming to make Africa the first cashless continent.

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*Source: https://lumenloop.com/news/stellar-development-foundation-enterprise-fund-invests-5*