RePay remittance & Merchant payment

Financial inclusion ninja a pan-African fighting & championing for income equality, I have more than 8 years in the financial inclusion industry providing community based lending groups, MFI's & Sacco's loans management solution. Currently I'm the Co-Founder & the CEO of  www.repay.africa a peer to peer money transfer, remittance platform and merchant enabled payment platform for Africa.

• We're focus in solving the financial inclusion problem faced by many countries in Africa through various SDG goals i.e Poverty, Gender equality, excellent work & community growth and sustainable cities and communities.
• Our Platform  www.repay.africa a peer to peer money transfer, remittance & merchant payment enabled solution for Africa continues to bridge the gap. 
• Our solution RePay Africa platform enable the unbaked to receive banking services without opening a bank accounts with local banks e.g receiving money, paying bills etc. 
• We enable youths and women to create employment through our agency program. Our solution enable majorly the rural & urban dwellers to access financial services at their convenience.  
• RePay platform serves as electronic alternative to cash, Cheques & banks. 

Financial inclusion continues to be a major headache in Africa, majority of commercial banks are still unable to reach people without a bank account. 

There’s a big demand to digitize financial services through financial inclusion, world bank indicates that 1.7 Billion people are not financially included, majority are based in Africans;  https://www.worldbank.org/en/topic/financialinclusion/overview 

• More than 60% of East Africans earn or live below $1 per day. This indicates that majority cannot access financial services because their income cannot allow them to open or maintain a bank account. This locks them out of financial inclusion.
•  80% of banks believe that mobile money solutions are preferred by younger generations, and they are looking to increase provision to respond to this.
• With Repay, our mobile payment, remittance & money transfer technology we enable more than 60% to have access to financial services, this enable them to send money back to their rural areas.
•  60% of transactions in Kenya are still made through cash, 30% mobile money trailed by card transactions at 10%. With Repay we’re targeting the larger 60% who still prefer to transact using cash. We believe they’re not financially included due to lack of bank accounts or access to financial services.

• RePay Platform a peer to peer transfers, remittance, payments to merchants & agency services. We're targeting to serve the majority un-banked within Africa.
•  60% of Africa population are still having problem receiving, sending & making payments because the don't have a bank account.
•  We're making it easy for small businesses that doesn't have a bank account across Africa to receive payments hassle free with RePay for merchant platform.
• RePay for Merchants enables our merchants to receive & track payments from their customers who uses the RePay wallet to pay at various outlets. 
• A merchant is able to receive payment from any part of Africa and the transaction are normally in real time. 
• Our merchant solution cater for their payments as compared to having multiple payment devices and accounts with banks & mobile money providers like cards & mobile money.
•  RePay Agency program enables wider agency network across Africa continent. Our agency allow our individual users, using RePay mobile apps running on USSD or iOS & android to be able to deposit cash or withdraw anywhere around Africa. 
• Our agency network also allows businesses( merchant) to withdraw amount paid to their business through RePay agents.

• Our solution is targeting the unbaked women, youths and the marginalized communities, RePay Africa Platform enable the unbaked to receive banking services without opening a bank accounts with local banks e.g receiving money, paying bills etc.
•  RePay empowers youths and women to get jobs through our agency program. 
• Our solution enable majority of rural & city dwellers to access financial services at their convenience. We're giving more attention to women & youth led businesses to receive payment & make payments through our platform. 
• This solution empowers women to continue doing online businesses and also be part of our agency program, while those who don't have business skills will be trained and enabled to open businesses as our RePay agent in their local area.
•  60% of transactions in Kenya are still made through cash, 30% mobile money trailed by card transactions at 10%. With Repay we’re targeting the larger 60% who still prefer to transact using cash. 
• We believe they’re not financially included due to lack of bank accounts or access to financial services. With our solution we're targeting to server majority in the rural areas and in the city who are still poor and lives below a dollar a day. 

• Through RePay platform we're helping new business to come up in the marginalize areas in the following ways; new business will come up as a result of our agency business program, case scenario is where our customers wants to top up their wallets, they will go to agent kiosk to cash in or cash out.
•  The agency outlet will be fully owned by individuals within the communities, we're targeting between 100,000 to 250,000 agency network across Africa.
• This will help so much in job creation for women, youth & the marginalize communities around Africa.

• Everyday I see women & youth led businesses fears doing their business online or starting a business,because challenges involves in receiving & making payments. Majority of small businesses & people don't have a bank account.
•  The minimum requirements for maintaining & having a bank account in Africa is another big challenge, in terms of ledger fee and account maintenance.
•  Major services that involves money requires you to have a bank account this makes them to miss critical services provided in respective countries.
• This is when my self and my co-founder, we decided to come up with a solution that will allow the marginalized community, women &youth to be financial included even without a bank account, through our platform RePay Africa. 

• Being born and raised in Africa rural area is a major challenge of its own, we are unable to access bank services or receive money transfers easily as it maybe perceived. 
• Whenever  someone sends you money you have to Que in a local kiosk to receive money, the kiosk/agents is normally very far away from settlement, this is part of challenges I have seen my parents go through when I was growing up, the problem has not change even in the cities. 
• The problem of financial inclusion is a very big challenge for Africa and thus I personally joined my friends to solve this society menace through www.repay.africa 
• I'm looking forward to Africa countries having strong and accessible financial inclusion services like the rest of the first world countries.
•  I'm looking forward to less Queuing in bank halls to access financial service, because we'll be bringing this services down to the common man.

• I'm a Mathematics & computer science graduate with over eight years experience in software development specifically software that are used by financial institutions to offer their services. With  more than 8 years experience working with various financial institution around Africa has equipped me with vast knowledge and understanding of problem faced by the financial excluded communities. 
• With this experience and the understanding of financial inclusion and the gap that is currently not being met by many commercial banks in Africa are my big assets in solving this challenge and thus giving a solution. 
• I'm also working with other team members who have experience in financial management, accounting, business management and sales.
•  All our team members have an average of 3 years working with major companies across Africa. This proven experience will be used to drive growth &to deliver the project on time as we're solving the problem of financial inclusion.

• Starting a business requires capital and very skilled team to tackle the problems we're trying to solve of financial inclusion in Africa. 
• Since we started the businesses, I have had to soldier on to make sure it will be successful through learning and understanding how to sail through various hurdles.
• My co-founder who happens to be a financial management expert continues to support our endeavors in business. She encourages and motivates me and the entire team. 
• I have had to pay our current team out of my personal savings knowing that this solution will one day solve a problem and it will pay back. 
• Sometime you loose hope when you see other businesses are profitable but yours is yet to breaking even but i'm motivated because aside from financial gain our solution will be impacting many people lives in Africa. 
•  I've had a lot of rejection in sharing my solution to banks and financial institutions but amidst those rejection I have continue with the project, this year we'll be launching the merchant dashboard and the mobile apps for users. 

• Back in university and high school I have always had influence in convincing people to follow me and my ideas. During founding of our company I met my Co-founder we never knew each other and she bought my ideas as well as  most of our volunteers and employees.
•  It doesn't give me a lot of headache to convince them to work with me regardless of our company or with no salary, they've be going on with the project not because it will make money someday or the little stipend I'm giving them but because of my vision and the leadership I'm giving them, this gives them the hope and zeal to continue working at RePay Africa.

RePay Africa, is a digital peer to peer transfer, remittance and merchant payment platform. We’re bridging the gap & providing a solution for financial inclusion challenges faced by the Africa continent. Our solution is designed for individual users, merchants & Agency services;

1. Peer to Peer transfer- RePay Mobile wallet app running on USSD, iOS & Android. The app is meant for individual customer to enable them to load their wallet with cash e.g. through our agents, MasterCard,Visa Card. Our app provides a virtual wallet that allows our users to make payments, send money locally or internationally to friends & families across the continent.
2. Merchant Dashboard – This dashboard enable merchant to receive & track payments from their customers who uses the RePay wallet to pay at various outlets. A merchant is able to receive payment from any part of Africa and the transaction are real time. Our merchant have one solution to cater for their payments, instead of having multiple devices and accounts with banks & mobile money providers like cards & mobile money. RePay Platform dashboard for merchant offers our merchants features like, SMS dashboard, POS terminal, Automated Cash out, Tax Management, Complaints management, Invoices & Receipts, Audit trail, manage users and Dashboard analytic.
3. RePay Agents – RePay enable wider agency network across Africa continent where our mobile app users can deposit cash on their wallet or withdraw money received from friends through RePay agents.

A large section of the Kenyan populace is currently able to use mobile phones to pay bills, transfer money, pay insurance premiums, borrow money, make account transfers, pay fees, make savings and purchase air time. In response, financial service providers are increasingly leveraging on mobile banking to increase accessibility and deliver services efficiently to a broad range of customers. Financial institutions have now integrated numerous mobile money services with mainstream banking services like account opening, making cash deposits, settling bills, among others, and are continually increasing the scope of mobile based transactions. The increased uptake of mobile money has seen an upsurge in competition marked by the launch of

diverse mobile money products among mobile money providers as they strive for a better grip of the lucrative retail payments market. Besides the mainstream mobile money services by the telecom firms, other firms have emerged to offer complementary services by partnering with the mobile firms in an arrangement that enables them to integrate mobile money platforms into their programs and offerings. The Lipa na M-Pesa service provided by Safaricom Ltd that enables customers or merchants to handle mobile payments at points of sale for services rendered or goods purchased has emerged as a very influential platform in this dimension. 

The primacy of mobile money within the Kenyan context lies in its sound capability to anchor multiple activities and processes that define mobile commerce. Existing mobile money services support a wide range of transactions including transfer of funds from one mobile subscriber to another, deposit and withdrawal of cash via a network of local agents, payment of utility bills, airtime top ups, ATM cash withdrawals, dividend pay outs, m-ticketing services, mobile shopping and cross country mobile money transfers. Being easily amenable to multiple innovations, mobile money technology eliminates the complexities associated with traditional options such as cash and banking cards, a situation that yields a fertile ground for mobile commerce to flourish. 

• We're currently serving around 20,000 users. We're targeting to serve at list 500,000 users between 2020 - 2021. 
• In the next 2-3 years we're intending to serve between a million active uses who are sending and receiving money through our platform. 
• Within the next five years we're planning to serving between 10 million and 15 million people in the respective countries we're intending to expand RePay Africa.
•  This strategy and target will involves our agency program where we'll recruit between 20,000 to 80,000 agents in each country we'll be having presence, this enable our users to deposit and withdraw money easily due to availability of our agents.
•  With the same effort we're intending to enroll at list 5,000 merchants who will be accepting payments through our platform, within 2-3 years we're intending to recruit between 20,000 - 50,000 merchants across the countries we have presence. 
• In the next 5 years we're targeting to have over 100,000 merchants a cross Africa bringing RePay Platform a monthly revenue of 1 Million dollars.
• Within 5 years we're targeting to raise at list 500,000 USD per month on transaction fee charged from remittance and bills payments. 

• We're intending to raise capital for expansion to various African countries and finally the entire Africa continent in the next 10 Year.
•  RePay Platform has launched in Kenya and in the next 2-3 years we’re intending to roll out in the following countries; South Africa, Rwanda, Burundi, Southern Sudan, Uganda & Tanzania.
•  In 5 years time, we’re intending to roll out RePay platform to the entire Africa continent. As we're doing expansion we're also intend to invest in improving our platform to accommodate millions of transaction and various currency around the continent while partnering with different organizations in Africa.
•  In the first year we're intending to have between 10,000 - 15,000 USD in revenue through our platform and within 2-5 years we're targeting to be earning  1 Million dollars monthly from our merchants.
• Within 5 years we're targeting to earn 500,000 USD per month as revenue from transaction fee charged on remittance and bills payments. 

• Our biggest challenges or barriers that we have are financial related. Inadequate working capital for operation and to venture out to countries we're intending to role out RePay, this has limited RePay doing an international/national wide marketing campaigns, we're only doing minimal social media marketing. 
• We're currently bootstrapping with initial capital from our founders for paying our employee and servers we're leasing. 
• Other major challenge includes our infrastructure; it can not support many uses and transaction, we lack enough capital to setup our own data center to host RePay Platform. 
• Our minor challenges like technical can be easily overcome without any problem while majority of our barriers are financial.
•  Lack of enough capital has delayed us to acquire the converted international/national wide outlook for our products and services that will help a lot of  business and individual as well across Africa.

• Currently we're raising Capital from venture firm and grants around the world. With between 4 million to 10 million USD of funding, we'll be able to improve our marketing and customers acquisition, we'll be able to also venture out into various targeted countries.
• Venturing out to this various countries we're targeting will enable us to get more customer and this means there will be an improvement in our revenue, With enough funding we'll expand to our first major targeted countries like South Africa, Ethiopia, Rwanda & Burundi. 
• Our technical barriers; we're solving them internally by enabling and giving training to our employees and encouraging them to further their education. 
• With the targeted capital we'll be able to have international/national and regional outlook that is need for our business success. 
• We'll partner with major universities & learning institutions to organize boot camps and hackerthon to scout for new talents & team members. 

• We've partnered with banks to help us manage the finances and  liquidity of our platform.
• Small kiosks owned by marginalized communities, women and youths as our local agents offering our agent services for money deposit and withdrawal in RePay wallets. 
• We're partnering with businesses(merchants) for them to receiving payments through our platform.
• We're also in talks with Visa and MasterCard on integrating the cards into our platform so as to allow other users with bank account to load cash through their debit card.

PROBLEM

In the world today, especially in Africa, there’s a need to digitize financial services. 

SOLUTION

RePay Digital payment & money transfer.

KEY RESOURCES

RePay Platform for merchants & Mobile app for users, R&D team, Big Data, Artificial Intelligence, Partners and customers.

CUSTOMER SEGMENTS

Our target customers include the following; -

• C2C – Peer to Peer transfer
• C2B- Payment to merchants
• B2C – Business to Clients
• B2B- Business to Business

UNIQUE VALUE PROPOSITION

African wide payment & transfer platform that support online money transfer and bills payment to merchants serves as electronic alternative to cash and cheques.   

COMPETITIVE LANDSCAPE

Our main competitors are Organization providing similar services e.g. Flutterwave, PesaPal & Interswitch.

COMPETITIVE ADVANTAGE

RePay platform has a merchant dashboard whereby the merchants are able to track payments for services rendered to their customers. Our dashboard is also able to have various users who are given specific roles e.g. sales, admin & accounts. Additionally, our merchant portal has the ability to maintain an audit trail for management use. We have RePay android & iOS app for customers to make payment and purchases from the merchants or send peer to peer.

SALES CHANNELS

• Online advertisements
• Social media marketing
• Our website
• Partners program
• Own platform
• Mobile apps

REVENUE STREAMS

• Commission on transactions per month
• Revenue from API integration
• Saas subscription fee
• Consultancy

PARTNERS

• Banks
• Microfinance Institutions such as SACCOs
• Third party merchants
• Our shareholders
• Payment providers/agents

COST STRUCTURE

• Platform development & Maintenance
• Transaction security
• Customer acquisition costs
• Legal
•  Staff
•  Office space.

• We're continuously raising working grants & capital through investor to compliment our growth and expansion strategy across Africa continent. 
• This  capital we'll be using to support our entire operations as we make and grow our sales and acquiring new users and customers that will sustain our business comfortably.  
• We're also coming up with an operating strategy that includes internal organizational structure and external partnerships that are crucial for creating the organization’s intended impact in sales and product adoption.
•  Finally we're creating a resource strategy that defines where and on what terms RePay Africa will acquire the resources finance & team members it needs to do its work.
• Our revenue model target service delivery to the following segment of clients and in return they'll be paying us for the services.

• C2C – Peer to Peer transfer
• C2B- Payment to merchants
• B2C – Business to Clients
• B2B- Business to Business

our revenue will mostly come from the following areas of our services;

• Commission on transactions per month
• Revenue from API integration
• SaaS Subscription fee
• Consultancy

We have been raised seed capital from our founders, friends and family as following.

2018-  25,000 USD 

2019 - 35,000 USD

• We're seeking to raise 4-5 Million USD in grant or equity  by December 2020 to enable us to implement our 5 years strategy of venturing in various countries in the East & South Africa. 
• This funds will assist in improving our marketing and advertising campaigns. 
• Our venturing  in various countries like South Africa, Rwanda, Tanzania, Uganda etc is capital intensive but with high returns to our business revenue and investors across the world. 

Our estimated expenditure for 2020 is between 450,000 USD to 750,000 USD. This will be distributed towards Rent,Utilities Accounting/bookkeeping Legal/insurance/licensing fees Technology Advertising & marketing Salaries.

We're striving to reach all the corners of the Africa continent by the end of the in the next 5 years or less.

• We're apply to raise awareness of RePay Platform capabilities and also to raise capital or grants that will enable us to scale our product and services across Africa.
• Our biggest challenges or barriers that we have is lack of enough capital to venture out to countries we're intending to role out repay product, this limits our international/national wide marketing and campaigns strategy. 
• We're currently bootstrapping with little capitals and sales from our products and service. East Africa is ready and in need of RePay platform. 
• With enough capital raise through elevate prize we'll easily scale our services and bring in more team members to help in growth strategy across Africa. 

Our partnership goals is generally to partner with individuals and organization that will help us grow our services across Africa and the wider world through media exposure, funding and also board advisory. For us to be successful we need partners, partners who share our vision because we can't grow alone.

1. Visa - provide debit card support and investment in our business model.

2. MasterCard - Provide debit support and investment on our business model.

3. Solve - Provide knowledge and advise on our product and capital raising.

4. Google provide cloud platform and marketing.

5. Microsoft  provide cloud platform &marketing.

this partners will enable us through their resources to scale our platform, revenue marketing product adoption and sales.