Ishangoo is an online piggy bank for spenders. We make spenders save consistently by using penalty fee for unplanned withdrawals and motivational messages as reminders to save.
48% of adults in Cameroon don’t know how to save money. That’s more than 6M of adults for a total share of market of at least $ 2.4M that we can capture by using 2 revenue streams: a $4 Annual subscription fee and a revenue margin (5-15%) from our commercial partners when user save for their products.
There are some existing solutions for savings (banks, microfinances, tontines, fintech..) but none of them act like a platform and as a commitment device to make people plan and save easily. Besides now is the good moment to launch Ishangoo because of there is a need in the market (48% adult don’t know how to save money), an increase of internet penetration (7.8% from jan 2019-jan 2020), the consumer behavior shift due to covid 19.
Reach to us to know more about how we can make this happen. :-)