MyZoi offers a digital remittance service and a payroll system tailored for low-income migrant workers and their employers. The remittance service aims to cut transaction fees to under 3%, aligning with the UN SDG target cited in the article. Its payroll product is built for employers across industries and requires no technical integration or paper onboarding. MyZoi operates a digital wallet model, is building its own rails to limit corridor costs, and includes financial‑literacy materials for users. The company was incubated under SC Ventures; co‑founders are Christian Buchholz and CEO Syed Muhammed Ali. It is a wholly owned subsidiary of Standard Chartered Bank and holds two regulatory licenses from the Central Bank of the UAE; it plans to pilot with roughly five million low‑income migrant workers from Pakistan, India, Bangladesh, the Philippines, and Nepal.

Total raised

$14M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2023