Part of the Purpl team in their Beirut office. (Courtesy of Purpl)
It's finally done.More than a year and a half after its creation, Purpl — a Lebanese start-up and aggregator of money transfer companies — has officially launched its application.The launch was made possible after Purpl obtained a license from Banque du Liban allowing it to operate in Lebanon as a remittance player, and another authorizing it to serve as a digital wallet.Founded in September 2021 by Karl Naïm, Jean-Marie Khoueir and Wissam Ghorra, Purpl aims to reduce the costs of transferring money to Lebanon from abroad through transfer corridors offered by their international partners, including Paysend and Remitly.On top of that, no fees are charged at the time of withdrawal, unlike the practice in place with some competing companies, according to Naïm, Purpl CEO.However, the stakes are high for two factors: The total amount of money...
It's finally done.More than a year and a half after its creation, Purpl — a Lebanese start-up and aggregator of money transfer companies — has officially launched its application.The launch was made possible after Purpl obtained a license from Banque du Liban allowing it to operate in Lebanon as a remittance player, and another authorizing it to serve as a digital wallet.Founded in September 2021 by Karl Naïm, Jean-Marie Khoueir and Wissam Ghorra, Purpl aims to reduce the costs of transferring money to Lebanon from abroad through transfer corridors offered by their international partners, including Paysend and Remitly.On top of that, no fees are charged at the time of withdrawal, unlike the practice in place with some competing companies, according to Naïm, Purpl CEO.However, the stakes are high for two factors: The total amount of...