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ProfPay - NOAH13 London

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Enabling eCommerce in Sub-Saharan Africa - Presentation by Elkin Pianim, CEO of ProfPay at the NOAH 2013 Conference in London, Old Billingsgate on the 14th of November 2013.

Enabling eCommerce in Sub-Saharan Africa - Presentation by Elkin Pianim, CEO of ProfPay at the NOAH 2013 Conference in London, Old Billingsgate on the 14th of November 2013.

Published in: Economy & Finance, Business

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Transcript

  • 1. November 2013
  • 2. What We Do Enabling ecommerce from Africa at leading international online retailers by providing a multimethod payment gateway and a marketplace with integrated logistics. African User Access To international brand-name etailers, breadth and depth of choice is locally unobtainable Convenience Pick up at local collection point Value Security Partner Merchants To underpenetrated and growing markets with high latent demand ProfPay API and marketplace integrates seamlessly Delivered cost significantly lower than in-market, no counterfeits Minimal cost, risk-free market entry Proprietary identity verification process, all data fully encrypted, is FCA-regulated Settlement by FCA-regulated UK entity, no exposure to user payment risk
  • 3. Company Snapshot  Offices in London and Accra  Founded March 2011  FCA-authorized as a provider of payment services activities  Seed investors are some of Africa’s leading businessmen  System is fully functional and has started trial operations in Ghana  Commencing A round raise
  • 4. The Ecommerce Opportunity in Africa - Size $70BN/annum $30BN – Airfreighted Imports + $40BN - Remittances from Diaspora of 15M
  • 5. The Ecommerce Opportunity in Africa - Structure Rapid Growth Population of 800M, 80M+ consumers Spending growth of 10-15%/annum Underdeveloped Local Retail High prices, up to 3x those in the UK Narrow selection, counterfeiting is rife Restricted Access to International Online Retail Low penetration of acceptable credit cards Few recognized alternate payment systems International merchants generally unwilling to deliver
  • 6. The Business – Payment Gateway Gateway accepts multiple local payingin options in Africa as well as international cards
  • 7. The Business - ProfPay Mall Marketplace Full end-to-end integration with leading UK retailers combined with a fulfillment and logistics operation to enable reliable, low-cost, rapid parcel delivery
  • 8. How it Works Gateway provides verification, confirmation and real-time status updates
  • 9. Development Path Marketplace offering User Adoption Payment Gateway ▪ Marketplace offering of leading international brands is initial adoption driver ▪ User base drives retailer uptake of payment gateway ▪ User base monetization generates additional revenue
  • 10. Strong Partner Merchant Offering Active Strong Interest Expressed
  • 11. Team Elkin Pianim – Founder, CEO  Serial entrepreneur in the USA, the UK and Africa  Experience in media, ecommerce, and finance  MBA, London Business School Karim Dhanani – CFO  15+ years of investment experience across Europe, Africa and Asia  Roles with JP Morgan, Artal Group, Platina Partners and Saham Group  Solvay Business School, Brussels Graham Green – Retail Adviser  30 years experience in ecommerce, retail  Director-level positions at IBM, Ann Summers, N. Brown Kwame Acheampong – Founder, CIO  15+ years career in technology  Experience in large scale enterprise deployment at Google / DoubleClick  Expert in Transactional Processing, Online Advertising, Content Monetisation Nabil Moukarzel – Africa Logistics Adviser  Cofounder of Finatrade Group, 2012 turnover of ~$1.5BN, present in 16 African countries  20 years experience in trade in emerging markets Bojan Cekrlic – CTO  10+ years in user design, focus on financial systems  Experience in gaming, banking, insurance, ecommerce
  • 12. Economics - Robust, Scalable Multiple Revenue Streams Robust Economics Affiliate commissions, transaction fees and logistics Commissions on mobile top-up and bill payment services, and money transfer Margins on Forex Multiple User Bases Local SSA shoppers African diaspora Robust Economics Revenues ~10% of total transaction volume Variable costs ~2% of total transaction volume Low Overheads Scalability Gateway and marketplace designed for volume Cost of new country entry, new merchant addition negligible