To offer an alternative funding platform for startups by offering matching services that connects investors and startups.
Startup growth across the world is undoubtedly at its highest point in our history. The number of new startups springing up by the day is truly remarkable. It’s a real testament to the genius of young people. Startups are devising innovative ways of solving the world’s most pressing problems by deploying modern technology tools in very creative ways. However, startups are faced with one major challenge; Funding! We may have part of the solution to this problem.
Hundreds of startup founders can’t access credit from banks and other financial institutions mostly because they hardly own property which could be used as collateral, neither do they have a steady income stream (salaries) to guarantee for loans. In effect they are not credit-worthy. Without this much needed capital injection, the growth trajectory of these statups is flat and slow.
There are thousands of young professionals around the world with substantial disposal income. Most of these young professionals are also credit-worthy because they have salaried employment. These groups of young people can access credit facilities with all the major banks with ease. They are granted loans within two weeks of applying! Why? Because they have a steady stream of income from which the banks can draw their repayments from. These groups of young professionals are probably the biggest untapped resource on the Global startup scene. It’s about time we put their resources to work!
Establish a web and mobile (& offline) platform which connects these two groups of people; Startups looking for funding and business-savvy young professionals looking to make some money. We expect to utilize the power of social media in drawing out our target market. This is how it works: Young professional with x amount of disposable income expresses interest in supporting a startup; we find a high-growth startup and match them with the interested investor. The young professional invests the amount in the startup. Startup uses profits to service the loan. The young professional in return, gets equity (shares) in the startup and we as matchmakers also get equity in the startup. Boom! Just like that, problem solved!
This model is a real pioneering opportunity, one with the potential to give a major boost to the global startup ecosystem. Good thing is, it’s also scalable, to cover Africa and the rest of the world. It’s our own backdoor to accessing much needed capital. The banks just won’t listen so it’s time to play them at their own game, this time by our own rules!