Problem: half of the world does not have proper addressing systems, affecting 4 billion people and costing businesses $200bn a year.
Market: there are two market segments – verification (financial services, market places) and mobility (ecommerce, ride hailing, food delivery and courier services)
Solution: our technology reduces address verification from 8 weeks to 7 days, from $5, to $1; it improves mobility with 100% to-the-door accuracy.
Traction: in Kenya, we have 305,000+ addresses and we’ve powered 475,000 address verifications and deliveries for our 161,000 registered users.
Business model: we charge businesses on a transaction model: $0.10 per mobility address use and $1 per verification.
Revenue Forecast: revenues estimated to reach $23mn in 2022 (93% gross margin), driven by partnerships with banking platforms.
Team: we have Silicon Valley level expertise – our CEO was at Google for 7 years where he developed and launched Google Maps across EMEA.