Collect Africa is a payment platform that allows African SMEs to receive payments across all sales channels, manage and monitor their businesses.

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The company was founded by Abraham Ojes and Wale Martins with extensive experience building fintech solutions for African consumers and businesses. Collect Africa currently serves customers from different industries, including distributors and suppliers, retailers and wholesalers, hospitality and tourism, and E-commerce. 

Market Opportunity

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In Africa,  cash is king, as there is still little digital payment penetration when compared to the rest of the world. According to the Nigerian Interbank Settlement System, the digital payment industry in Nigeria has seen significant growth in recent years. This has created the need for businesses to meet the growing demands of their customers with innovative payment solutions. 

Collect Africa is trying to bridge this gap and give African businesses the ability to accept any form of payment from customers, including POS, direct debit, bank transfer, QR code, and payment links. 

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The platform has processed over $4M in payments in the last eight months with 5,000 registered businesses and 50k total processed transactions. It is generating a $5k monthly revenue with an average monthly growth rate of 25%. 

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Not only is Collect Africa bridging this gap, the company is also using the data extrapolated from these businesses to build more products in the financial space that may be useful for these businesses. These products would address a suite of services from lending, spend management, savings, insurance, and transactions on eCommerce.

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With the funding from Ajim Capital, Collect Africa will use the money to expand their engineering, sales, and support teams in order to acquire 50K merchants and $50M in annualized TPV. This will further cement its position as a leader in the African payment industry.  

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Collect Africa is also positioning itself to be able to move into other markets within Sub-Saharan Africa as the payment industry continues to expand in the region. We believe that the company's offerings will prove to be an invaluable asset as businesses in the region continue to grow and evolve. 

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As payment solutions become more accessible, Collect Africa is sure to benefit from increased adoption of its services.  With a strong user base, strategic partnerships with banks and telcos, and high growth potential, Collect Africa promises to be an exciting venture.  

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