Logo Venture Capital for Africa

IroFit Because payments should be simple

We build the ONLY mobile card payment system that allows merchants accept card payments without an internet connection. Our revolutionary technology makes real-time processing of card payments possible in many areas of Africa where Internet connection is poor or absent. With a mobile device and a card reader, they can accept card payments, and get access to other tools such as sales history, analytics, inventory management, CRM, loyalty management, payroll support. Thus, our clients can increase business sales, retain/grow customer base, and better engage their customers.

African economies are growing at a phenomenal rate, and standard of living is on the rise. There is a strong emergence of the middle class with sophisticated tastes and buying habits. The result is an unprecedented explosion in commerce. Africans customers deserve the opportunity to buy with their ATM/credit/debit cards everywhere, every time without being limited by the unreliable Internet coverage and service. IroFit helps them enjoy that right.

Fundraising

This venture is seeking finance for their venture. Are you an investor? Check out the Pro Account to see the details.

Idea

We have an elevator pitch. We have a revolutionary new idea that will change the rules of the game.
We have an elevator pitch. We have a revolutionary new idea that will change the rules of the game.

We provide reliable mobile card payment services that work anywhere so small businesses can increase sales, engage customers, and manage their growth operations. The technology is proprietary but the business model has been proven to be rapidly successful by in other markets

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 - our team has what it takes. 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 - our team has what it takes. Given the time and money, we can deliver on our promises.

We've worked together over several years, core competences within growing team. Omoniyi- built startups over 14yrs, creative problem solving, leading small teams, Olusola- mobile + back-end dev Qaisser, Teemu, Markku- built scalable payment solutions used internationally.


Product

We have a working product and you can request a demonstration. We have developed the product ourselves and own all of the IP for the product.
We have a working product and you can request a demonstration. We have developed the product ourselves and own all of the IP for the product.

Our prototype is currently being tested in multiple locations, with positive results. Public launch in Nigeria in September 2014, to scale rapidly over Africa. We have technical and strategic partnerships to deliver world-class, SECURE card processing services to 1bn Africans.

Revenue

We plan to start by building a community of passionate customers. We will earn revenue from an advertising model. We have a cash-flow prognosis. We already have revenue from paying customers.
We plan to start by building a community of passionate customers. We will earn revenue from an advertising model. We have a cash-flow prognosis. We already have revenue from paying customers.

We have a transactional model- we charge a percentage of all sales we process. Our main revenue driver is transaction volumes. Despite competitive pricing, we generate cash-flow from the start, and rapidly become profitable even while concurrently scaling the produc

  1. Idea and Stage

  2. Team and Organization

  3. Market and Marketing

  4. Finance

  5. Investment

Team

Updates

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