Bringing mobile payment technology to the SME sector

Sector: Fintech

Year of establishment: 2013

Turnover 2015: USD100k-200k

Investment need: USD200k

Product, market solution and potential

Founded in 2013, the Company provides E-Commerce payment solutions. The Company has built a powerful electronic commerce (eCommerce) platform called IP2 that makes it easy for businesses to collect and make payments using E-money platforms like mobile money, bank wallets and other digital stores of value. The platform also enables the sales of fast moving digital goods like airtime, internet data, concert tickets and lot more. The Company works with partners including mobile money operators and banks to ensure ease of payments and safe transfer of funds and reduces on all related costs in cash handling.

Entrepreneur & team

The Company was started by a Ugandan entrepreneur who is a web designer and has an IT background, in the mobile payments space he was previously working with MTN Uganda, one of the largest mobile telephone companies in Africa with a track record of rolling out products such as mobile wallet solutions. The other shareholders include a South African Angel Investor.

Turnover & investment need

Turnover in 2015 approached nearly USD 100,000. The company is searching for an investment between USD 200,000 –USD 300,000. The financing sought shall be used to undertake the following: product development and recruiting a sales and marketing person.

Impact

The business has a positive impact in different areas:

  1. Ease on making payments through use of mobile money.
  2. Reduce on all the costs related on cash handling.

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