Book Review: Cash In, Cash Out

“How an African startup changed the face of banking in emerging markets”

This was quite an enjoyable read. An interesting insight into the journey of an African FinTech startup founded hot on the heels of mobile money becoming a thing.

This excerpt early on in the book nicely summarises the overall theme:

It is one thing to work on a great product, but to build a viable, thriving business is a totally different ballgame.

Cash In, Cash Out is about Fundamo, a company founded in 2000 in South Africa as a spinoff of an insurance company to explore opportunities in the mobile money market.

The author shares the journey from its conception as a brilliant idea to trial, implementation, the business and personal relationships along the way, and the company’s growth beyond South African borders. He isn’t shy to touch on the rough bits of chasing the fleeting partnerships, the unexpected outcomes along the way and the uncertainties of how long the doors would be kept open.

The author’s emphasis on the importance of human agents as mobile banking’s “most important revolution and biggest innovation.” I however think a bigger revolution is happening now with people using mobile money for seamless transacting without the need to cash out? At least in Kenya more and, more businesses are expecting mobile payments instead of cash.

I highly recommend this book, not just for people in Fintech but also for those with startup ambitions to see the sheer grit it takes to build a successful company especially with an unproven product.