Scrapays

Chances are slim that you have seen anyone really close to you that has kept a stockpile of recyclable waste to give off especially if you are in Nigeria or any developing nation at that. We believe that largely is because there is no efficient way to recover these valuable waste material and the widely used producer compensation models aimed to drive participation is not self-propagating especially across economic class. 

Scrapays facilitate the recovery of recyclable materials by providing a software-based recovery network, consisting of all four categories in the value-chain. We provide them with the infrastructure and tools to help them control recyclable material recovery while creating self-managed businesses from it. 

Individuals and businesses get value from recyclable waste and Out-of-Use scrap-able items. We allow individuals who have open spaces to host collection-outlets, become local-collectors or manage operations by being a vendor, while duly rewarding all parties per-kilogram recovered.

The waste and material recovery ecosystem happens to be a very strategic industry, which has the capability of generating revenue well above $530 Billion. The global waste management market size is expected to reach $530.0 billion by 2025 from $330.6 billion in 2017, growing at a CAGR of 6.0% from 2018 to 2025, according to PR Newswire.

In Africa  Major Cities you can barely pass through any junction without being confronted by a hip of stinking and irritating waste, highway and household flooding are common occurrence after rains due to the fact that water ways are always blocked with waste-materials.This floods have affected 1.9 million people, destroyed 82,000 houses, displaced 210,000 people and devastated crops and livestock.

It is reported that less than 25% of urban waste in developing countries is collected and disposed off appropriately. The implications of poorly managed waste on health are numerous and depend on the nature of the waste, individuals exposed, duration of exposure and availability of interventions for those exposed.

Due to lack of proper orientation of the general population waste producer responsibility is more or less non-existent.

Scrapays is for Individuals and Enterprises who are looking to make money or get better return from recyclable waste and Out-of-Use scrap-able items. We allow individuals who have open spaces to host collection outlets, become local collectors or manage operations by being a vendor, while duly rewarding all parties per kilogram recovered including our producer network;

Hosts:The Scrapays platform allows existing businesses and individuals host collection centers, hereby making business off their space for every ton of material collected on it. (Call it AirBnB for recyclables)

Vendors:These are independent recyclables businesses or new individuals that are looking to become stationed recyclable collection resident administrators in the several hosting spaces.

Collectors:Collectors are mobile field agents (usually existing mobile collectors or interested new individuals), equipped with our collection technology, IOT powered digital scales and Mobile carts. This group operates usually within a catchment area.

Producers:Producers across individuals, organizations and firms are engaged primarily through our USSD, Mobile and Web interfaces. This flexibility helps us connect with our varied user cross-section with the appropriate technology they have access to and are familiar with. Producers get direct cash back and 'Environment Champ Badge' for providing recyclable materials with collection available on request. ping operations.

About 152 million Nigerians live on under $2 a day, representing about 80% of the country’s estimated 190 million population, according to ADB. 

These are the first group of persons that directly benefit from our initiative.

1. Low to Medium Income earners; 

Scrapays uses a decentralised collection model which is powered by a USSD and Mobile App. This implies that there will be collection centers in every locality.

So individuals gain direct cash by selling their recyclables at their convenience. Secondly individuals with Collection space can register as collections in their local zones, hereby making money per tonnage/per material class of the recyclable waste collected.

2. Enterprise;

Our solution allows businesses gain extra income source in times likes this, via the recyclables waste that are usually produced during their operations.

3. Informal Recyclable Collectors:

It is currently estimated that there are over 105,000 informal material recovery and recyclable collectors in Lagos alone.

Our Collection model allows us to train this group for 3 Months after which they are deployed and equipped with our digital scales and mobile App to facilitate collection. A base payment is assigned to them, and they make money based on the material tonnage they collect.

Scrapays uses her software based solution to facilitate a decentralized solution to digitize the recycling value chain;

Hosts: The platform allows existing businesses and individuals host collection centers, hereby making business off their space for every ton of material collected on it. (Call it AirBnB for recyclables)

Vendors: These are independent recyclables businesses or new individuals that are looking to become stationed recyclable collection.

Collectors; are mobile field agents (usually existing mobile collectors or interested new individuals), equipped with our collection technology, IOT-powered digital-Scales and Mobile-Carts.

Producers; across individuals and Enterprise are engaged primarily through our USSD,Mobile and Web interfaces. 

This are a few of our Unique Value Propositions

1. Technology and Decentralised Collection;

Scrapays uses USSD, Web and App technology empowered decentralized models, which makes collection of recyclables possible in every nook and crannies, individuals with Hosting Space are signed-up and empowered to be collectors in their zones, and are compensated in cash based on the material tonnage collected.

Our architecture allows individuals to track their waste production and receive compensation directly as cash on virtually in their bank account, hereby encouraging good waste attitude and saving culture.

Convenience, Simplicity and Efficiency 

Scrapay’s Offline and Online platforms(USSD/Mobile App), brings to life the possibility of disposing of your waste at your convenience while you get economic value off it, by using Individual unique ID is generated during registration this even allows your waste to be disposed of in your absence.

Listing (Bulk Scrapping Operation)

For our Listing operations, individuals and Businesses are allowed to List their "Out-Of-Use" recyclable/scrapable machineries, trucks, payloaders, generators, cars, etc. on our Web and Mobile platform. The system automatically gives them a current premium market price for the listed Item, after its description and picture has been uploaded. As a physical evaluation is done, the Lister gets paid within 60 minutes. 

Informal Collectors Incorporation;

Scrapays also incorporates the informal material recovery sector, that currently recorvers over 75% of recyclables collected in developing nations in our collection design.

Core technologies that powers Scrapays solution.

Scrapays uses a software approach for her decentralised collection model, which is used in building a network of independent, Collectors, Hosts and Vendors;

Our technologies-

Offline Technology: USSD

Online Technology: Web and Mobile App

AI Technology

IOT Technology

The USSD technology allows our producers request for direct offline pickups, this requests are received by our location based collectors.

Scrapays uses both mobile and web based software, to power the connection of the parties involved the the material collection and recycling value chain.

Our Producer App allows our household producers request for direct pickups, manage there account, transfer funds in there Scrapays wallet to there bank accounts or use it for airtime recharge.
The WebApp allows our users to create unique accounts with us while allowing our Enterprise customers manage there dashboard.

Our technology uses IOT to facilitate direct communication between digital weight balance and the collection calibration input on our mobile app to record tonnage input, without any human interference.

Our AI system allows for automated pricing population of our Listings operations vertical. This system gives our users automated pricing for there listed "Out-of-Use" recyclable items.

AI is also used to aggregate the performance of Local vendors that are most eligible for funding, this AI powered grading mechanism allows each vendor to be classified and graded without any bias.

Using this technology scrapays have been able generate $39334.38 in revenue during her pilot phase and we have been to collect a total of 103920 KG of recyclables. 

Using this technology Scrapays currently serves;

Currently

-B2C Customers (individual): 550

-B2B Customers (Enterprise): 100

-Individuals in the recycling value-chain (Collectors, Hosts and Vendors): 52

In One Year it projected that we will be serving;

-B2C Customers (individual): 15225

-B2B Customers (Enterprise) : 1550

 -Individuals in the recycling value-chain (Collectors,  Hosts and Vendors): 1012

In 5 Year it projected that we will be serving;

-B2C Customers (individual): 5,262,120

-B2B Customers (Enterprise) : 52,930

 -Individuals in the recycling value-chain (Collectors, Hosts and Vendors): 19215

One key vision that drive all we do at Scrapays is to change the age long narrative and ideology around waste in developing nations, we believe the resource and technology that the 21st century avails us gives us a unique positioning to redirect what use to be a health and environmental menace to be an economic resource which it really is. Our core focus is redefining waste and championing and facilitating a zero waste environment.

Sequel to this, our technology powered waste recovery system, are structure in a way that the businesses and individuals in the recycling value-chain are allowed to capture greater economic value hereby solving the poverty problem which is predominant in developing nations.

Scrapays currently serves;

Currently

-B2C Customers (individual): 550

-B2B Customers (Enterprise): 100

-Individuals in the recycling value-chain (Collectors, Hosts and Vendors): 52

One Year

-B2C Customers (individual): 15225

-B2B Customers (Enterprise) : 1550

 -Individuals in the recycling value-chain (Collectors,  Hosts and Vendors): 1012

5 Years

-B2C Customers (individual): 5,262,120

-B2B Customers (Enterprise) : 52,930

 -Individuals in the recycling value-chain (Collectors, Hosts and Vendors): 19215

Year 1

-We are looking to have facilitated the recovery : 1042 tons of recyclable waste

-Acquire a total of : 15225 Household Customers

-Acquire a total of : 1550 Enterprise Customers

-Acquire a total of : -286 decentralised collection Hosting Locations

Year 5

-We are looking to have facilitated the recovery : 53467 tons of recyclable waste

-Have a total of decentralised collection centers: 

-Acquire a total of : 5,262,120 Household Customers

-Acquire a total of : 52,930 Enterprise Customers

-Acquire a total of : 5356 decentralised collection Hosting Locations

- Cultural ideology about waste:

- Funding Limitation

- Governmental policies

- Cultural ideology about waste:

We are currently working on heavy online and offline reorientation campaigns, to punctuate the socio-cultural perception around waste.

- Funding Limitation

For the effective scaling of our decentralized collection model external funding are needed. We are currently working on accessing grant and VC funding.

- Governmental policies

We are working closely with governmental agencies, to champion and enforce policies that breed growth in the material recovery and recycling sector.

Full Time: 12

Part Time: 15

Contractor: 19

The Founding Team Initially made of the 3 Co-founders met during our Undergraduate programmes some 9 years ago.

Having  worked on  several projects together as a team ranging from Shellideas360, Edgerise, Geoscience Enterprise Competition etc. 

Because of the several levels of waste menace we have during our formative years and are still currently facing, we decided to work together on Scrapays, an enterprise that redefines the narrative around waste in developing countries.

The other founding members joined the  team because of their deep passion for solving and profering creative solutions to the waste problem. 

We are a team of Software engineers, operations and business strategist, recycling and circular economy resource persons, and finance and product development personnel with resolute focus on changing the old narrative around waste in developing nations.

Because the  Scrapays concept in itself is a union of Recycling, Technology and Finance, the team expertise is hinged strongly along these verticals.

We are currently in partnership with the following organisations;

Hong Xing: This one of our industrial partners that offtake our scrap metals

Quantum Packaging and Steels: This one of our industrial partners that offtake our scrap metals, Paper and caton

F Steels: This one of our industrial partners that offtake our scrap metals

Tower Group: This one of our industrial partners that offtake our scrap Aluminium

Alkem: This one of our industrial partners that offtake our recyclable plastics.

GIVO: This one of our industrial partners that offtake our recyclable plastics

The Kingdom of The Netherland: Our partnership with them help connect us to industry experts in recycling

Founder Institute: Our partnership with them helps with entrepreneurial trainings and connection to various industry professionals.

Seedstar: This is a growth stage mentorship partner
FATE Foundation: Connection with various industry experts

IDM: This company facilitates our marketing campaigns operations for our B2B vertical. 

Scrapays gains Revenue via;

1. Direct Sales

Scrapays sells off the collected recyclable materials recovered from Individuals (Households and SMEs) and  Enterprises to our local and international partners that use them as raw materials for their production. (Revenue Sharing Model- Waste Producer: 45%, Collector: 35% Scrapays: 20%)

2. Listings

We also make money from listing “Out of Use” scrapable materials like; Old trucks, cars, caterpillars, abandoned warehouse machines etc.  that are listed on our platform for sales at scrap value by individuals and businesses. Our operation teams  scraps these materials and they are sold off to our industrial partners.

Currently we have 15 scrap Listings with an average revenue projection of 35,000 USD, awaiting execution

3. Commissions;

We get between 3-12% commissions on our collection network, ranging from our sponsored collection from producers, vendor network, and crowdsourced hosting locations.

4. Informal Material Businesses Subscription

Scrapays uses a Pay-as-You-Go capped subscription model, which is dependent on the total material collected by the business within a month, via our Material Recovery Operations automation and Funds Management software

With the Scrapays solution, Waste is now seen as a resource, indiscriminate dumping is greatly minimised, in the past six month during our pilot, over 103920 KG of recyclable waste across, plastic (PET,HDPE, LDPE), Paper, Caton, Metal and Aluminium) are being recovered. And we generated $39334.38 from the sales of these recyclables to our partner end user firms.

It's projected that, because of our decentralized collection, tech and cash reward backed model, 53467 tons of material across;  plastic (PET,HDPE, LDPE), Paper, Caton, Metal and Aluminium will be recovered in 5 years.

Scrapays through are individual and small businesses engagement in her software powered decentralized collection model; profitable anages three categories of persons- Hosts, Vendors and Collectors, within the next 24 months Scrapays is estimated to engage and provide employment opportunity for 52,930 individuals and small businesses.

Carbon footprint reduction is a major area where scrapays solution will be very striking, because our solution uses tech and a scalable decentralized collection model to facilitate efficient recovery of recyclables across various material classes

Checking up Solve's portfolio, it's evident that it has given flying wings to a very good number of social oriented enterprises across several countries, which has brod forward to direct impact on millions of individuals. We strongly believe that if Scrapays could get such a lifting hand from the Solve's Initiative, our growth will be highly accelerated, and our vision of redefining the narrative of waste in Nigeria, causing a paradigm shift in how we see waste.   

The magnitum of solid international partnerships, network and Mentoring opportunity that The Solve's Initiative will open us up to, will be truly invaluable and will immensely aid our scalability.

We are currently seeking to raise funding that will give us a runway of 12 months.

We need accredited mentor in Marketing and growth hacking

Experienced individuals  are currently being sourced to join our team of Advisors and Board.

We are currently looking to partner with the Tech team of MIT and her Partners to help better structure our technology and position its architecture for scale.

International electronic and plastic off takers and experts are dearly needed.

Scrapays has a special solution that allows Young and Middle aged women register has Collectors and Vendors in there zone.

This allows this group of women earn has Scrapays independent Collectors or vendors, they get 40% of economic value of every KG of material collected via our system through them.

We are not only lifting them from the extremely poor category we are giving them the power to join a gainful course that get them employed

Scrapays decentralized collection model allows and encourages new and existing individuals in the recycling value chain get gainfully employed and get better

Our AI system allows for an automated pricing population of our Listings operations vertical. This system gives our users automated pricing for their listed "Out-of-Use" recyclable items.

Scrapays is for individuals and businesses who are looking to make money or get better return from recyclable waste and Out-of-Use scrap-able items. We allow individuals who have open spaces to host collection outlets, become local collectors or manage operations by being a vendor, while duly rewarding all parties per kilogram recovered including our producer network;

Hosts: The Scrapays platform allows existing businesses and individuals host collection centers, hereby making business off their space for every ton of material collected on it. (Call it Airbnb for recyclables)

Vendors: These are independent recyclables businesses or new individuals that are looking to become stationed recyclable collection resident administrators in the several hosting spaces.

Collectors: Collectors are mobile field agents (usually existing mobile collectors or interested new individuals), equipped with our collection technology, IOT powered digital scales and Mobile carts. This group operates usually within a catchment-area.

Producers: Producers across individuals, organizations and firms are engaged primarily through our USSD, Mobile and Web interfaces. This flexibility helps us connect with our varied user cross-section with the appropriate technology they have access to and are familiar with. Producers get direct cash back and 'Environment Champ Badge' for providing recyclable materials with collection available on request.

In our decentralized collection model, we incorporate the informal collection ecosystem which are made-up of uneducated young adults as Collectors, Agents and Vendors.

Our incorporation process, mandates that this group undergo an initiation training of 6 weeks which is followed up with a quarterly update training. 

This groups are introduced to mobile literacy, internet usage training, civic engagement and customer relations, for effectively function in there capacity.

Data analysis is central to what we do.
Africa and developing nations generally do not have accurate and quantitative data on recycling or waste management, that could help in holistic decision and policy making, consumer behavior studies, consumption frequency, etc

Our system using AI provides a unique system that allows comprehensive data to be captured around these listed parameters, across each of the 7 recyclable material class we currently collect. Theses data are tied to location, industry class, demography etc.

Our AI system allows for an automated pricing population of our Listings operations vertical. This system gives our users automated pricing for their listed "Out-of-Use" recyclable items.

AI is also used to aggregate the performance of Local vendors that are most eligible for funding, this AI powered grading mechanism allows each vendor to be classified and graded without any bias.

Below is a breakdown of Scrapays expected financial breakdown in the next 4 years

Financial Projections: (US Dollars) 

FY 2021 

Revenue 

2,196,295

Operating Income 

348,375 

FY 2022 

Revenue 

5,580,774 

Operating Income 

1,323,205 

FY 2023

Revenue 

14,515,445 

Operating Income 

4,042,750 

FY 2024

Revenue 

36,324,344 

Operating Income 

10,886,761