We were lucky to catch up with Chika Okere recently and have shared our conversation below.

Chika, appreciate you joining us today. We’d love to have you retell us the story behind how you came up with the idea for your business, I think our audience would really enjoy hearing the backstory.

Growing up in Africa gives one a different perspective when it comes to value for money and the importance of saving money. I have always tried my best to maximize the value of every dollar denomination that I receive, and as such, I had to bear the burden of managing countless amounts of coins when I tried to use them for purchases. This burden of carrying large amounts of loose change when needed for purchases led me to the idea for Koinage. Koinage app gives cash users the opportunity to receive and carry loose change electronically with immediate access for commerce.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers

I am a first generation immigrant from West Africa with a passion for poverty alleviation and empowerment of the less privileged. I am a researcher by training and the knowledge I received through training and interaction with others helped me to design and develop the Koinage app. Over $1.3 Trillions was spent in cash in the US alone in 2020. Most of the loose change from these transactions end up in jars across homes in the US, some in the trash, and some are completely lost and would require more coins to be minted. Koinage provides an Avenue through which merchants can pay loose change to their cash customers electronically. Customers can in turn transfer all change collected with the Koinage mobile app to their bank or credit/debit card in real time. This solves all the current issues, especially the coin circulation issue we face around the world today.

Let’s talk about resilience next – do you have a story you can share with us?

With a background in science and pharmaceutical research, navigating the area of Fintech was very challenging and I found myself lost most times and constantly trying to catch up. I did not give up. Instead I decided to partner with organizations and accelerators and I spent weeks learning all the basics I needed to effectively grow my business.

Learning and unlearning are both critical parts of growth – can you share a story of a time when you had to unlearn a lesson?

I had to learn very quickly that going from idea to product requires months of preparation and planning. I realized how important it is to have mentors and to embed oneself in researching other successful entrepreneurs and their best practices

Contact Info:

• Website: www.koinageapp.com
• Linkedin: https://www.linkedin.com/company/koinage-llc/
• Twitter: @koinageL

Image Credits
Koinage Inc.