Company description:
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This startup is global online marketplace for Africa. Because African markets are still not included in the global trading systems, moreover, selling to or buying from Africa always involve middlemen who in most cases take between 30 -60 % of the margins. The startup is a global B2B online marketplace for Africa. They exist to help African entrepreneurs reach local, regional, and global markets. They also provide global businesses with access to the African markets. Registered at KvK on 23rd March 2020; PoC (proof of concept) done between June & Nov. 2020; MVP Processed $120k in gross merchandise value; 36 vendors (customers) registered. End April 2021- Migration from the MVP to a new platform. The marketplace trades on everything from soft to hard commodities and both new and used products. |
Business Model:
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Four Main Sources of Revenue: 1- Membership (3 different memberships). 2- Commissions: 5% completed sales transaction (passed to buyers in Year1). 3- Matching Up Commission (non-member vendors and buyers): 5 % 4- Extra – Advertisement fees: (Year 2). In year 1 (2021) all vendors pay no membership fees. Their 5% commission will be passed over to buyer as discount. |
Customer type / profile:
B2B
Preferable investor type:
Angel investor; Incubator/accelerator
USP’s:
| This startup brings African products to the global markets in one single online marketplace as a result become the African marketplace site. Other global vendor with market offering demanded in Africa are joining. |
Capital amount needed:
| €300.000,- |
Investeringsbehoefte:
| Hire a CMO to the team & Finance the goal to achieve 1 million Euro revenue by December 31st 2021. |
Sector:
E-Commerce; Platform
Phase:
Early Growth
Number of founders:
1
Current number of employees:
1-5
Monthly turnover (current):
| $10.000,- |
Turnover (forecast) next 12 months:
| $20.000.- p/m |
Turnover (forecast) months 13 – 24:
€400.000,-
Current monthly expenses:
€1.000,-
Committed funding:
| €50.000,- |
Are there any previous investments made in the company? :
| Yes from families and friends |
Is a follow-up investment expected within 24 months?:
| No |
Other relevant information:
A Positive gesture: The long time Tech advisor has agreed on becoming the CTO. Additionally, he is now participating in the “friend and family” investment round as an investor. A good sign that things moving on the right track.
