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Online software service for micro loan companies

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  1. 1. Microcred.it Online service for business process management and automation of microfinance institutions Incredible Technologies
  2. 2. What is Microcred.it? It is a tailored software for business process management in microfinance institutions delivered to the customer by web and hosted in the cloud. Incredible Technologies
  3. 3. Problem In 2010 a Law (151 –FZ) was adopted that regulates the microfinance sector in Russia. It gave a boost to the growth of microlending (that is not a problem☺) Employees of microfinance institution work manually and lack automation. Incredible Technologies
  4. 4. Problem => Opportunity There is no smart and cool (and friendly) software for those smart guys who are doing a smart and profitable business - lend money at a very high interest rate for a short term. In other words the niche of SaaS for microlending in Russia is empty (for now of course) Incredible Technologies
  5. 5. Product We offer a SaaS solution that is designed to automate the complete business cycle of a microfinance institution Incredible Technologies We want to become a single and a unified interface for people who do microlending where they do all necessary operations starting from input new loan request ending with handling the overdue debt, including scoring procedures, sms, reporting, etc
  6. 6. *A lyrical digression Studying the problem, I happen to know that a friend of mine is running microfinance business (about 200 000 USD of loans granted). The answer to my question “What kind of software do you use for operations, calculations, etc?” was “Word and Excel, and own hands, of course” ☺ Word and Excel and manual handling for more than 300 contracts. Ain't it funny to hear that in the era of Salesforce, BaseCamp and (Lord forgive) FaceBook? Incredible Technologies
  7. 7. Product Incredible Technologies A demo version is available at www.microcred.it
  8. 8. How do we plan to earn money Subscription fee (a common item for SaaS model) Additional income by reselling :SMS messages from SMS-providers, scoring services from scoring system providers,etc Incredible Technologies
  9. 9. How do we plan to earn money Processing of repayments of a loans (small and medium microfinance institutions lack the means of getting money back from the clients) A payment aggregator facilitating the end customers to make the repayments by different means (Qiwi, EMoney, Contact, etc) on the market worth of several $ billion Incredible Technologies *FUTURE
  10. 10. Market The industry itself (Microfinance) grew by ~ 50% in the last year. The amount of loans granted is close to $ 2 billion. The amount of registered microfinance companies (our potential customers) doubled in 1 year and is about 3 000 The accurate list of all potential customers is available in the state register http://www.fcsm.ru/ru/contributors/microfin ance_org/state_register_microfinance_org Incredible Technologies
  11. 11. Where we are now Alpha version (working prototype) is ready Commercial usage starts in mid summer 2013 Positive feedback from several fellow test customers Proven demand (interview and telemarketing) Incredible Technologies
  12. 12. Our Plans Acquire ~100 clients in a first year of commercial usage of the service. Average bill $200 per month Turnover for 1 year ~$250 000 Incredible Technologies
  13. 13. Competitors Archicredit.ru Main competitor in terms of functionality and usability. Installed application (win32). Take time and cost (beginning package is about 1000$ plus monthly maintenance fee in amount of 100$+) Incredible Technologies
  14. 14. Competitors 1C family of products 1C based solutions. 1C is family of accounting and ERP products. The 1C-based solution for microfinance industry is a modified version of 1С for common enterprises (like this http://alstgroup.ru/index.php/tseny) Main disadvantages: not user-friendly interface, time and cost to setup and maintenance Incredible Technologies
  15. 15. Competitors Excel, Word, Hands Free of charge but not effective. Incredible Technologies
  16. 16. Why we Price Saas User friendly and comfort All-in-one interface Incredible Technologies
  17. 17. Our team A team of 4 persons who used to work as a team for 4 years. All are alumni (ex-employees) of a software company named Canopus Software(www.canopuslab.com) engaged in development and marketing of a financial software Incredible Technologies
  18. 18. And what is going on in the world? The best example of what we want to do is http://www.mambu.com/ *In February 2013 Mambu raised $2M from Runa Capital and Point Nine Capital Incredible Technologies
  19. 19. Thank you for attention Incredible Technologies Stay hungry, stay foolish☺ Looking for Smart Money
  20. 20. Contacts Sergey Vostrikov ssvostrikov@gmail.com info@microcred.it +7 919 766 61 92 DEMO IS AVAILABLE AT www.microcred.it Incredible Technologies