Joe Kinvi’s Journey from Finance Head to Founder of Borderless
When Joe Kinvi joined Touchtech Payments in 2017 as head of finance, he took a risk by negotiating for stock in lieu of his full salary. Little did he know that this decision would eventually lead him to found a groundbreaking startup called Borderless.
Borderless, based in the U.K., is revolutionizing the way Africans in the diaspora invest in their home countries. By providing a platform for collective investment in startups and real estate, Borderless is tapping into a market that has been largely untapped. Since its beta launch, the platform has facilitated over $500,000 in transactions.
Kinvi’s entrepreneurial journey began with the formation of an investment club called Hoaq in 2020. This club pooled resources from local and diasporan angels to invest in African startups. However, they faced numerous challenges, from opening bank accounts to navigating regulatory requirements.
Learning from these challenges, Kinvi developed a digital tool that streamlined the investment process, leading to the creation of Borderless. The platform now serves as the backend infrastructure for diaspora collectives, enabling them to securely onboard members, accept cross-border payments, and deploy capital.
Borderless focuses on two main asset classes – startups and real estate – but Kinvi envisions expanding into other areas such as film and diaspora bonds. The platform’s key differentiator lies in its emphasis on trust and transparency, ensuring that investor funds are directed to verified sellers and legal checks are embedded into the process.
With over 100 communities on its waitlist, Borderless is poised for growth. The platform has already facilitated investments in startups and real estate projects in Kenya, with plans to offer additional services such as remittance products and asset management tools in the future.
Borderless has garnered support from prominent investors and industry experts, including DFS Lab, Ezra Olubi (Paystack CTO), and executives from Stripe and Google. These backers not only provide financial support but also serve as users of the platform, underscoring the value that Borderless brings to the diaspora community.
As Kinvi looks towards the future, his goal for Borderless is not just financial returns but also a sense of identity and belonging for Africans in the diaspora. By providing a secure and scalable platform for long-term investment, Kinvi hopes to empower individuals to invest confidently in their home countries.
While Borderless faces challenges in scaling, particularly in terms of identity verification and fraud detection, Kinvi remains committed to building a platform that prioritizes security and integrity. With a strong foundation and a clear vision, Borderless is poised to make a significant impact in the world of diaspora investing.
