SmartPesa Powering Agency Banking and Payment solutions in Emerging Markets

SmartPesa allows merchants to accept card payments using a mobile phone (Mobile Point of Sale, mPOS) whilst also allowing every merchant to act as a bank branch. Comprising a low-cost card reader, App and server-side processing, SmartPesa solves the payments last-mile problem whilst fully integrating with existing banking infrastructure. Any local or international card is supported including Chip&PIN and mag-stripe cards. Especially suitable for emerging markets.

Fundraising

This venture has not initiated a round of financing on this platform. If they choose to, the summary of the fundraising round will appear to registered investors here.

Idea

We have an elevator pitch. We are already working in <abbr title="Base of the Pyramid">BoP</abbr> markets and want to improve our current offering.
We have an elevator pitch. We are already working in BoP markets and want to improve our current offering.

In emerging markets, there has been an explosion in cards as many unbanked have opened accounts. However, banks have not kept pace with roll-out of branches and ATM's, often due to prohibitive costs in largely rural communities. SmartPesa allows every merchant to effectively act as a banking branch, quickly and cheaply expanding a bank's network.

Team

Our founder has the business savvy and persistence to turn ideas into a company. We have a business network and can get introduced to the right people. We can build the product. Given the time and money, we can deliver on our promises.
Our founder has the business savvy and persistence to turn ideas into a company. We have a business network and can get introduced to the right people. We can build the product. Given the time and money, we can deliver on our promises.

Two co-founders with extensive (over 40 combined years) experience in financial services. Thorsten Neumann who has written financial systems for trading is the lead technologist while Barry Levett leads the commercial side.


Product

We have a working product or service. We have developed the product ourselves and own all of the <abbr title="Intellectual property (IP) rights are legally recognized exclusive rights to creations of the mind.">IP</abbr> for the product. The product is built with open hardware and/or software, so there is no proprietary third-party IP.
We have a working product or service. We have developed the product ourselves and own all of the IP for the product. The product is built with open hardware and/or software, so there is no proprietary third-party IP.

Paying customers in Nigeria, Philippines, Malaysia, Tanzania, Indonesia and Colombia

Revenue

We have identified one or more revenue streams. We have a cash-flow prognosis. We already have revenue from paying customers.
We have identified one or more revenue streams. We have a cash-flow prognosis. We already have revenue from paying customers.

Two models depending on country: (1) is a revenue share model and (2) annual subscription model which is largely fixed price. Pricing level depends on country, feature set and other negotiations.


Inclusiveness

We involve low-income groups as consumers. We involve low-income groups as producers. We involve low-income groups as distributors. We involve low-income groups as employees.

People often have to travel long distances to use the nearest ATM which is inefficient and often unsafe. Moreover, after withdrawing cash, they often spend their money nearby the ATM and take goods home, improving the economy of that area. It would be better that people can spend their money more easily and keep it within their own communities.

We involve low-income groups as consumers. We involve low-income groups as producers. We involve low-income groups as distributors. We involve low-income groups as employees.

Significant driver of Financial Inclusion - a real potential to bring millions in emerging markets into the formal financial sector

  1. Idea and Stage

  2. Team and Organization

  3. Market and Marketing

  4. Finance

  5. Impact

  6. Investment

Team

Updates