Paydel
Paydel bridges the trust gap in e-commerce by seamlessly integrating payment and last mile delivery.
Convertible Note KE FinTech Pre-seed
$11,170
22% of the goal raised
6
Investors
$50,000
Target
25%
Discount
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Highlights
- Successfully completed over 1000 deliveries
- Had 190 sign ups
- Servicing 300+ vendors through a powerful marketplace partnership
- Served 1400+ different consumers with a 98% customer satisfaction rate
- Successfully developing and launching our service to the market
- Secured initial funding, through grants from family and friends
- Reached key revenue milestones that demonstrated growth and financial viability
- Had 2 iterations, continuously improved the service based on customer feedback and market trends
- Achieving significant growth in sales and revenue, building on the foundation laid in the first year
- Acquired relevant Licensing for our operations
Convertible Note
Financial Instrument
$10
Minimum investment
$8,000,000
Valuation cap
October 1st, 2024
Deadline
Pitch
Paydel bridges the trust gap in e-commerce by seamlessly integrating payment and last mile delivery. Keeping both parties safe from fraud, while allowing businesses to scale their operations and convert 3 times faster.
PROBLEM AND SOLUTION
The lack of trust is the most fundamental problem in e-commerce. To avoid being conned, not receiving their delivery or receiving the wrong item, 99% of consumers prefer to pay on delivery. However, this shifts the risk to businesses. As a result, 90% of them prefer advertising for in-store shopping, where customers pay at the point of sale, escaping the risks of online purchases. While other countries see 19% of their retail volume transacted via e-commerce, Kenya stands at a mere 3%.
We solve this by seamlessly integrating escrow payments and last mile delivery. Ensuring we can confirm goods receipt. Providing the security of online transactions for both business and consumer. Ensuring the buyer's peace of mind, as the payment is only released to the seller after the goods are received. For businesses, we secure consumer commitment while also protecting them from fraud.
REVENUE/BUSINESS MODEL
We generate revenue through transaction fees and last-mile delivery fees. Transaction Fees: We charge a percentage of the product price as a transaction fee.
Last-Mile Delivery Fees: We charge consumers for last-mile delivery.
MARKET SIZE
Total addressable Market in Kenya - $2.3B
Serviceable addressable market - $954 M
Total Addressable Market in Africa - $ 34.57 B
MILESTONES
* Successfully completed over 1400 + deliveries
* Had 190 sign ups
* Served 1000+ different consumers with a 98% customer satisfaction rate.
LONG TERM GOALS
For our long-term goals, we aim to:
Expand Beyond Nairobi: We plan to extend our operations beyond Nairobi, enabling parcel sending and receiving from any town within Nairobi. This expansion will provide valuable insights into cross-border operations as we work towards facilitating intra-African e-commerce trade, making secure doorstep deliveries from Nairobi to Lagos, Nigeria, and ensuring transaction security.
Diversify Payment Methods: We aim to accept multiple forms of payment to cater to a broader range of customer preferences and enhance convenience.
Integrate with Marketplaces: We intend to integrate with all major marketplaces to ensure safe and secure transactions for everyone, creating a seamless and trustworthy e-commerce experience across different platforms.
USE OF FUNDS
40% in customer acquisition
30% In Operations expenses
30% Product development
paydel_
https://paydel.appTeam
Natasha Leti
COO, Co-Founder
Natasha brings a wealth of operational expertise to our team, with over 4 years in e-commerce. As COO, she ensures our operations run smoothly and efficiently, focusing on bringing in new corporate clients, optimising processes and enhancing customer satisfaction.
Anthony Tendwa
Tech Lead & Developer
Anthony is our tech lead and developer, with extensive experience in software development and system architecture. He is passionate about building robust, scalable solutions and leads our tech team in developing innovative platforms to enhance user experience.
Allan Mutuma
Legal Counsel
Allan is an experienced legal professional specializing in business law. With over 7 years of experience in corporate legal affairs, he provides invaluable guidance on compliance, contracts, and intellectual property. Allan's expertise ensures that our operations adhere to legal standards and helps mitigate risks, safeguarding our company's interests. His strategic insights and dedication to ethical practices are instrumental in navigating the complex legal landscape of the e-commerce industry.
Nypha Dorcas
Communications Officer
Nypha is an expert in communications and public relations. As our Communications Officer, she oversees our external communications, ensuring our brand message is clear, consistent, and engaging.
Austin Kiugu
CEO
Austin is a seasoned entrepreneur with over 3 years of experience in the e-commerce and logistics industry. He founded our startup to bridge the trust gap in online transactions, leveraging his expertise in business strategy and technology integration to drive growth and innovation.
Documents
Company documents
Pitch deck
Brand guide
Legal
