STARTUP STORY

SENDING MONEY WHERE IT MATTERS MOST

When Ali Haghnia and Mahtab Assadian founded Rebit, they weren’t just starting a business—they were solving a problem they had seen firsthand. During the COVID-19 pandemic, many members of their Iranian migrant community in New Zealand were struggling to send money home to support their families. Whether it was covering medical expenses or tuition fees, traditional money transfer systems failed them.

That’s when Ali and Mahtab began exploring stablecoin technology—a form of digital currency that holds a steady value by being pegged to a currency like the US dollar. What started as a few transactions for friends quickly grew into a flood of requests. Managing it all on a spreadsheet soon became impractical, and they realised they weren’t just helping friends—they were building a financial service. Rebit was born.

Breaking Barriers in Global Money Transfers

Many mainstream money transfer services focus on popular routes, leaving people from certain regions—especially migrants and refugees—without reliable options. Rebit fills this gap by facilitating money transfers to countries that are traditionally difficult to reach through standard banking systems.
There’s also a growing demand from businesses in New Zealand that employ remote workers across the world. Paying salaries to employees in countries with limited banking access can be a logistical nightmare. Rebit offers a seamless, fast, and fair solution, ensuring businesses can pay their teams without unnecessary delays or high fees.

“With just a few clicks, migrants, businesses, and charities can send money quickly and securely, without worrying about unpredictable exchange rates or financial roadblocks.”

Stablecoins: The Game-Changer

Unlike volatile cryptocurrencies, stablecoins offer consistency. Their value remains tied to a flat currency, making them a reliable alternative for international transactions. But using stablecoins independently can be complex. It requires technical knowledge, access to multiple exchanges, and the ability to buy and sell across different financial systems.

That’s where Rebit makes the difference. They’ve streamlined the process, eliminating the need for users to navigate complex crypto exchanges. With just a few clicks, migrants, businesses, and charities can send money quickly and securely, without worrying about unpredictable exchange rates or financial roadblocks.

From an Idea to a Scalable Business

Rebit’s early success was fuelled by word-of-mouth. Friends told friends, and soon, the demand was overwhelming. To scale, Ali and Mahtab needed more than just a spreadsheet. They built a website, automated verification processes using biometric technology, and ensured their service was fully compliant with financial regulations.

But even with rapid growth, they found themselves questioning their next steps. "We always asked ourselves—are we on the right path? What could we do differently?" recalls Mahtab. Searching for guidance, they discovered Startup Aotearoa’s coaching programme and reached out. Chris, their coach, helped them refine their business model and provided valuable insights into the fintech landscape.

Through their participation in Startup Aotearoa and Creative HQ’s fintech lab, they gained the clarity and strategic direction they needed. "The feedback and advice we received were game-changing," says Mahtab. "It helped us see beyond what we were doing and explore how we could grow even further."

Chris O'Neill - Startup Aotearoa Coach

“The feedback and advice we received were game-changing, it helped us see beyond what we were doing and explore how we could grow even further.”

The Future of Rebit: A Financial Lifeline for Millions

Rebit is more than just a money transfer service—it’s a bridge for families, a tool for businesses, and a lifeline for those in need. With an increasing number of migrants and remote workers relying on their platform, Ali and Mahtab envision a future where sending money anywhere in the world is as easy as sending a text message.

They’re not just changing how money moves; they’re changing lives. And as they continue to grow, Rebit stands as proof that innovation, combined with a deep understanding of real-world challenges, can lead to solutions that truly make a difference.

What started as a solution for migrant workers in New Zealand is now poised to transform global remittances. "We’re constantly innovating," says Mahtab. "From expanding to new regions to introducing even faster, AI-driven payment solutions, the future of Rebit is about making financial transactions truly borderless."

Do you have a promising startup idea that could benefit from expert guidance? Follow in Angelica's footsteps and book a Startup Aotearoa coaching session today.