Dash (formerly Spektra) - 2018

Dash was a Ghanaian fintech company that aimed to create a unified payment network for African consumers and businesses. Founded in 2019 by Prince Boakye Boampong, the companys goal was to bridge the gap between mobile money wallets and traditional bank accounts across Africa, facilitating seamless cross-border transactions. The company raised $86.1 million in five years, backed by prestigious investors like Insight Partners, Y-Combinator, and Techstars. In 2021, Dash began sharing eye-popping growth numbers. claiming to have processed transactions worth $1 billion and growing over 5x in just five months.Dash shut down in October 2023 after a tumultuous run. Months prior, in February, Boampong was placed on indefinite administrative leave as the startup conducted a financial audit and multiple publications aroused suspicious regarding the companys growth metrics. With a reported burn rate of $500,000 per month of which Boampong was reportedly earning $50,000 per month, the companys primary issue was high overhead.