Case studies
How Spark is paving the way for social financing  with Anchor
Accounts API (Deposit account, Sub accounts)
Collections API (Virtual nuban, Payments)
Transfers API (NIP transfer, Book transfer)
About Spark
Lagos, Nigeria

Spark is a mobile application fostering online communities with a financial twist. They cater to individuals seeking connection and knowledge within specific interest groups while offering the opportunity to earn money.

Sparking Communities - How it started

The inspiration for Spark stemmed from the founders' own experiences. They recognised the limitations of existing group platforms, particularly in handling finances.  Imagine your office WhatsApp group for lunch orders: inconvenient contribution tracking and a less-than-ideal overall experience. Spark solves this by offering a transparent and user-friendly financial layer for community interactions.

From Frustration to Innovation: Finding Product-Market Fit

The initial launch proved challenging. Spark focused on migrating existing social media groups, but users were not interested in replicating past experiences. It became clear there was a desire for fresh communities built around shared passions and the potential to make money.  Spark pivoted, launching its own communities focused on specific interests, nurturing a sense of belonging and financial opportunity. 

Spark prioritises quality and trust, unlike traditional messaging group platforms like WhatsApp and Telegram. They screen members and establish clear community guidelines, ensuring a safe and productive space for users.

"We are building a novel solution and it’s been amazing to have the level of support that we do from Anchor"
Michael Costa
Cofounder, Spark

Partnering with Anchor: Unleashing Spark's Potential

Spark is integrated with the following APIs: Accounts API, Collections API, and Transfers API which enables their users to easily create virtual accounts and smoothly transfer funds within their Spark accounts. Additionally, Spark enjoys a smooth, collections process

Anchor's solutions allowed Spark to:

Define Product-Market Fit: Anchor's support empowered Spark to experiment and refine its concept, ultimately finding a successful formula with the implementation of the "social finance" aspect, a key differentiator for Spark.

Focus on User Experience: With compliance and financial infrastructure handled by Anchor, Spark could dedicate resources to building a great social experience.

"The best thing about Anchor is that it helped us focus on being a startup"
Michael Costa
Cofounder, Spark

Anchored in Success

Spark's story is a reminder that great ideas can come from everyday problems. By focusing on building a strong community and partnering with the right people, they have created a platform that is both fun and financially rewarding.

By leveraging Anchor's expertise, Spark's communities are buzzing. Football fans are having a blast with friendly competition and meetups. Cryptocurrency enthusiasts are learning from each other and navigating the crypto world. It is more than just a group chat; it is a place to find your tribe and connect with communities.

Like Spark, if you are building a novel solution, our suite of APIs empowers you to focus on finding product-market fit and scale your solutions faster.

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