Updated Oct 22, 2019

Crowdforce Ltd

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Focus Areas:

Social & Micro Finance

Social & Micro FinanceSEE LESS

Implemented In:

Nigeria

NigeriaSEE LESS

1
Country Implemented In

Problem

We are solving the problem of accessibility. KPMG reports that 94% of all transactions in most emerging markets are done using physical cash, As a result, the bulk of the economic activities that go on in these regions are done primarily offline through traditional outlets. This creates huge problems for companies trying to serve these markets. Under-served populations want affordable access to quality products and financial services. Companies, non-governmental organizations (NGOs), startups, Multinational, Financial Institutions, governments and blockchain companies are constantly looking for ways to effectively serve these markets.

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Solution

our technology is locally built from the ground up to enable offline capability via USSD, Easy/Self-service, on-boarding of merchants and an open API that enables businesses to add more digital services that merchants can render to a consumer in their store. Our data gathering tools also enable offline data collection with geotag information.

Target Beneficiaries

We run a B2B2C Model. Our first targets are enterprising youths - (Men and women), local merchants with shops who in turn provide services to the unbanked and underbanked population. We also work with FMCG’s/CPGs, NGO’s, Government institutions to help them understand the bottom of the pyramid market better by gathering data that will help their decision process.

Innovation Description

Our Penetrative Market research product known as Mobile forms is a data crowdsourcing platform that helps gather reliable and verifiable data across Africa. We provide real-time insights on your end-users from store aisles to streets and to the living rooms. With over 100,000 networks of field agents in Nigeria alone who capture geo-tag, in-the-moment insight and verifiable data. Our key success factor for our products are Our Unique technology: our technology is locally built from the ground up to enable offline capability via USSD, Easy/Self-service, onboarding of merchants and an open API that enables businesses to add more digital services that merchants can render to a consumer in their store. Our data gathering tools also enable offline data collection with geotag information. Offline Agency Distribution Network: We currently have access to about 100,000 field agent who serves as either Mobile money agent (Payforce) or Data gathering Agent (Mobile forms). Since 2016 about 1 million dollars have been paid so far to our agent network who collate data and about 250,000 dollars has been made in commission by our mobile money agents since inception in August 2018. We recently enabled the creation of digital identities, loan disbursement and loan recovery to over 2.5 million petty traders across Nigeria under the Federal Government Tradermoni project. This was made possible due to our network of Field agents across Nigeria who are strategically located in every ward in the country. Team: Our team is made up of vast and experienced developers, project managers and financial experts who together have several years of relevant experience.

Milestones

Date Unknown
New Country Implemented In
Nigeria