Drew Durbin (Wave)
Overview
Drew Durbin is a prominent entrepreneur known for his influential role in advancing financial technology in Africa. He is the co-founder and CEO of Wave Mobile Money, a groundbreaking fintech startup based in Senegal. Wave Mobile Money is celebrated for its innovative approach to financial inclusion by offering affordable and accessible mobile money services across several African markets. Durbin's previous venture, Sendwave, was instrumental in reducing the cost of international money transfers to Africa. His leadership has been pivotal in Wave attaining unicorn status in 2021, positioning it among Africa’s most valuable startups.
Recent Developments
In recent years, Drew Durbin has continued to make significant strides with Wave Mobile Money, focusing on expanding its footprint and consolidating its market presence:
- June 2025: Wave secured $137 million in debt financing led by Rand Merchant Bank, with the support of major development finance institutions such as British International Investment, Finnfund, and Norfund. This funding aims to enhance Wave's financial services across West Africa (TechCrunch, 2025; Urban Geekz, 2025).
- March 2025: Wave expanded its regulatory approvals with a partnership with Commercial Bank Cameroon, allowing it to operate in Cameroon, thereby increasing its service reach (Tech Africa News, 2025).
- 2024-2025: For two consecutive years, Wave demonstrated its leading market position by being the only African startup on Y Combinator's top 50 earning startups list (Crunchbase, 2025).
- 2021: Wave gained unicorn status following a $200 million Series A funding round led by Sequoia Heritage and Stripe, marking a substantial milestone as the first such startup in Francophone Africa (LaunchBase Africa, 2025).
- Partnerships: Wave has actively pursued strategic partnerships to enhance its service offerings, including collaborations with TerraPay to improve remittance services across West Africa, further supporting financial inclusion (Pymnts, 2025).
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Drew Durbin |
| Born | 1989 (approx.) |
| Nationality | American |
| Occupation | CEO of Wave Mobile Money, Entrepreneur |
| Known For | Co-founding Wave Mobile Money and Sendwave |
| Net Worth | Not publicly disclosed |
| Education | Brown University, Graduated in 2008 |
Early Life and Education
Drew Durbin grew up in the United States and studied at Brown University, where he graduated in 2008. During his time at Brown, Durbin developed a keen interest in leveraging technology to address significant societal issues—an interest that later guided his career path. His education laid the foundation for his foray into the financial services sector, where he combined technical knowledge with an entrepreneurial spirit to tackle financial inclusion in Africa.
Career and Notable Achievements
Drew Durbin's career is marked by several notable achievements and milestones:
- Sendwave: Co-founded in 2012, Sendwave was launched to reduce the high fees associated with international remittances to Africa. It was acquired by WorldRemit in 2021, allowing Durbin to focus on domestic advancements.
- Wave Mobile Money: Founded in 2018, Wave has made a significant impact by redefining mobile money transfer services with a focus on simplicity and affordability—charging only 1% on transfers and no fees for deposits or withdrawals.
- Awards and Recognition: As of 2025, Wave is one of Africa’s premier fintech ventures and was notably featured in Y Combinator's top revenue-generating companies list.
- Funding and Expansion: Wave's notable financial achievements include its $137 million debt round in 2025 aimed at further expansion into new African markets.
Current Work and Impact
As of 2025, Drew Durbin remains the CEO of Wave Mobile Money, where he continues to drive the fintech firm’s mission to make Africa the first cashless continent. Under his leadership, Wave’s innovative business model continues to foster financial inclusion, streamline services for low-income populations, and challenge traditional, fee-heavy financial service providers. The company's operations reflect a commitment to economic empowerment and digital financial inclusivity across the continent.
Related Topics
Drew Durbin Net Worth
While specific details about Drew Durbin's net worth are not publicly available, his successes with Wave Mobile Money and prior ventures like Sendwave have likely contributed significantly to his financial standing. Wave’s valuation as a unicorn and its continued expansion portray a degree of financial prosperity associated with the executive leadership at its helm.
Wave Mobile Money
Wave Mobile Money is a cornerstone of Africa’s fintech landscape, providing mobile-first financial solutions that are recognized for their affordability and accessibility. The company serves millions across West African markets, enabling digital financial capabilities that bypass traditional banking models.
Conclusion
Drew Durbin’s journey from co-founding a simple remittance service to leading a revolutionary mobile money platform in Africa highlights his significant contribution to fintech and financial inclusion in Africa. His strategic vision and technological acumen have been instrumental in driving Wave Mobile Money’s growth and impact. As Drew Durbin continues to lead Wave, his efforts promise further advancements in the fintech space, ultimately enhancing the economic fabric of African communities by making crucial financial services accessible to the underserved.