OwoHQ, a Nigerian startup revolutionizing the way Africans raise and receive financial aid, has officially rebranded to Owave. This change reflects the company’s rapid growth and its ambition to establish a strong presence on the international stage.
Since its inception in July 2024, the platform has been reshaping the crowdfunding landscape within Nigeria and across the continent. Owave’s mission is to simplify fundraising for individuals while actively combating fraudulent campaigns and misleading solicitations.
In an interview with Technext, Daniel Owodunni, Co-founder and CEO of Owave, emphasized that the rebranding was essential for clearer brand identity and global distinction.
“Although OwoHQ was a name with significance, we discovered another product with a very similar name. This wasn’t a minor issue for us; it was about establishing a unique identity and ensuring our brand is unmistakable worldwide,” Owodunni explained.
One innovative feature Owave introduces is a comprehensive campaign directory. This includes a dedicated section for NGOs and organizations, enabling individuals seeking assistance in areas like children’s healthcare, women’s welfare, and education to access funding more efficiently.
Recognizing that trust is fundamental in crowdfunding, Owave is committed to enhancing transparency. The platform allows donors to verify the legitimacy of campaigns and monitor how their contributions are utilized.
Owodunni clarified that Owave operates primarily as a service-oriented platform rather than a fintech company. Supported by its parent entity, Owodunni Technology Limited, the startup focuses on addressing financial challenges by connecting users with appropriate funding channels.
The rebranding marks a renewed commitment to the company’s core mission and a drive to build upon its operational strengths.
“The name Owave symbolizes momentum and progress, like a wave propelling people forward. It empowers us to expand confidently and continue developing a platform that embodies the bold vision we hold,” Owodunni remarked.
To date, Owave has facilitated the processing of over N140 million through various campaigns. Owodunni highlighted that these figures represent more than just monetary value-they signify trust, perseverance, and the power of strategic partnerships.
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Understanding Owave’s Operation
Owodunni and his co-founder, Temi Ami-Williams, Chief Commercial Officer, stress that trust forms the foundation of sustainable fundraising. Owave cultivates this trust through a rigorous onboarding process.
Users seeking financial assistance must undergo a thorough Know Your Customer (KYC) verification, which confirms the identity of campaign creators and the legitimacy of their causes.
Given the rise of scams and fraudulent campaigns in the crowdfunding space, Owave has developed a system that not only documents but also tracks campaigns, ensuring a secure and reliable fundraising environment.
“We’re essentially enhancing an existing system by integrating technology and a layer of trust to make it more effective,” Owodunni stated.
Security is paramount on the platform. Withdrawal privileges are strictly limited to verified account holders, with BVN authentication embedded in the KYC process. The team is also working to streamline this experience for users.
Owave charges a 7.5% fee on funds raised, which covers third-party transaction costs, such as those from Paystack. Campaign organizers are encouraged to factor this service fee into their fundraising goals. For example, a target of N1,700 would be adjusted to N1,825 to accommodate fees.
If a campaign does not meet its target by the deadline, the service fee is proportionally reduced based on the amount raised. Additionally, Owave applies a compassionate approach to campaigns related to healthcare.
At its core, Owave is dedicated to solving real-world problems through technology, positioning itself as a service-driven platform.
“What motivates me personally is using technology to simplify people’s lives. Even though Owave is still in its early stages, the impact we’re making is truly rewarding,” Owodunni shared with Technext.
Upcoming Features and Expansion Plans
Owave recently refined its personal campaign offerings into two tiers: instant verification, which allows campaigns to go live immediately, and full platform access, unlocked after comprehensive verification.
In November, the startup plans to launch a fundraising tool that enables users to raise money by sharing a scannable code with potential donors, simplifying the donation process.
Looking ahead, Owave aims to support multiple currencies and introduce cryptocurrency payment options. This is part of a broader strategy to expand into markets such as Ghana, South Africa, and Kenya, where diverse payment methods are essential.
The company is also preparing to release a mobile application to enhance user experience.
According to Owodunni, ensuring that campaign creation and platform navigation are seamless is critical to making fundraising more accessible and effective.
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