Fixbit is a proposed e-commerce platform that offers trailing interest payments to customers based on their spending. Customers would open Fixbit accounts to use for online shopping and earn a 2% monthly interest on their total spending. The founder seeks funding and plans to partner with a major bank. Key milestones are formulating the idea in 2015, obtaining a legal document, discussing a partnership with a bank, and now seeking equity investors as it incorporates as a company. The proposal projects breaking even within the first few months by acquiring 750,000 customers over 2 years.

1. Fixbit...trailing interest

2. CONTENT
INTRODUCTION
Fixbit: Why All The Fuss?
PROPOSITION
l The Business Idea
l The Market
l The Problem/Opportunity
l The Solution
l The Customers
l The Competition
ORGANIZATION
l StartUp Team
l Getting To Market
ECONOMICS
l Customer Economics
l Financials
MILESTONES
l Hstory
l Current Status
l Key Milestones

3. Fixbit: Why All The Fuss
1. Fixbit is the future of e-commerce. Customers will be
delighted by the service it offers whereby they make money
every single time that they spend with a Fixbit account.
2. Fixbit is a new way to shop; a new way consumers will want to
spend their money.
3. We seek not just funding but nurturing by the market insiders,
those who are well connected in the industry. Such are the
mentors that will make Fixbit thrive.
4. Indeed we hope to find investestors that become actively
involved with every stage of our lifecycle; that are
empassioned enough to take the business to its summit.

4. The Business Idea
Fixbit accounts are meant for e-shopping only with users getting
rewarded on every amount they spend when an imaginary trail
from the spent amount traces back to the account to effect a
monthly interest payment. Calculated on money that already has
been spent, it is in effect a trailing interest and it gets paid
monthly for life.
The more Fixbit e-shoppers spend, the higher the trailing
interest they receive monthly for life.This is made feasible as a
result of a closed system that aggregates nationwide, all
subsisting Fixbit accounts amongst which all the e-payment
transactions occur, and outside of which any attempted
transaction gets disabled by default.

5. Monthly trailing interest payment is 2%. This applies to C2B
transfers and B2B transfers. Note however, that C2C transfers are
disallowed.and disabled.
The aggregation of Fixbit accounts must be locally diffuse and
spread nationwide with plenty Fixbit spending outlets springing
up so it is impactive. To thrive, Fixbit has to be huge. This in turn
guarantees huge returns for investors.

6. C FIXBIT
PAYMENT
FLOW-CHART
B2B
C2B
B
C B
C2B
C2C
DISALLOWED

7. The Market
E-commerce together with Banking and Finance are constants in
the Nigerian economy and there are over 40 million active
participants, individuals and businesses combined.
This becomes our target market and our value proposition to this
market is a bank account exclusively meant for e-shopping which
yields high returns on the account deposit.
Fixbit's totally cashless operations as well as mobile platforms,
aligns well with the policy drive of the apex bank: the Central
Bank of Nigeria. Cooperation and collaborative opportunities
thus abound from a federal government policy perspective.

8. The Problem/Opportunity
E-commerce growth in Nigeria is lethargic. It is much in need of a
spark; some real excitement by something that adds great value
to its users, for its growth to approach full potential.
Then we have commercial banks usually perceived not as a
source of investment, but as mere money lenders. Indeed higher
yields on bank deposits usually are exclusive to high net-worth
individuals and conglomerates. Hardly can one find the smaller-
volume bank deposits being considered for premium interest
rates.
What then can encourage those with the most apathy to come
out of their shell?

9. The Solution
l Customers of all sizes of bank deposits are introduced to an
account exclusively meant for e-shopping, whereby their
account deposits generate higher monthly returns the more
they spend, by a key innovation called a trailing interest
l This manner of returns happens passively and on the go, the
more money that is spent
l In fact the more one funds his account to keep spending, the
higher the monthly returns become and it continues
perpetually
l It all takes place cashlessly, through e-channels and mobile
payment suites

10. The Customers
l Already subsisting commercial bank customers (individuals
and businesses) who are shown the appeal to switch over to
the Fixbit platform to enjoy higher deposit returns at no
further expense
l The unbanked and under banked population. Fixbit's ease of
operations and higher deposit returns certainly targets this
population and urges them to make more money, as they do
their routine day-to-day spending
l Online shoppers (to own individual Fixbit accounts)
l Online shop owners (to own business Fixbit accounts)
l Social network enthusiasts
l All smart phone/device owners

11. The Competition
l Other commercial banks who churn out products regularly for
customer patronage
l Payment solution enterprises, who have loyal customers
enjoying their services already
Our strategy to outperform out competitors is such that many
would likely end up as partner vendors to us.

12. StartUp Team
Fixbit is sole-propreitarily owned. The founder is Dr Kofoworola
Awojobi, medical doctor and graduate of the College of
Medicine, University of Lagos, who has hands-on experience in
running a hospital in the competitive private healthcare setting
in Nigeria.
He attributes his success to being attuned to technological
advances in the health industry not just clinically, but from a
telemarketing perspective as well. Indeed it was when he put his
creativity to task in finding ways to compete with the status quo
health payment industry, mainly the Health Maintainance
Organizations (HMOs), that the exercice yielded Fixbit as end
product - much larger in scope than healthcare payment
solutions.

13. Getting To Market
Fixbit roll-out has to be nationwide and internally diffuse to be
effective based on its operational model:
l C2B payment transfers: Fixbit individual customer account
holders (C) must be overwhelmed by plenty spending outlets
(Fixbit business accounts (B) ) in town for Fixbit to thrive
l B2B payment transfers: Fixbit business account holders (B)
must be able to identify other business outfits that are their
usual trading partners who themselves have Fixbit accounts
so that B2B transactions readily abound for Fixbit to thrive

14. l C2C transactions are not allowed by the Fixbit operational
model and is permanently disabled by the software
Fixbit marketing strategy will utilize the physical presence of its
partner bank's branch network nationwide as promotional
outlets. The idea is to open as many (C) and (B)-type accounts as
simultaneously and quickly as possible, for the desired impact.

15. Customer Economics
l The Fixbit customer is made aware that coming onboard the
platform is as effortless as opening a regular savings account
l And yet the added monetary value of Fixbit (high deposit
returns) comes at no added demands on the customer with
the customer having much more to gain
l The cost of obtaining each customer boils down to Seventy
Five Million Naira (N75,000,000.00) projected as average
annual expenditure for the Fixbit marketing drive, divided by
the number of customers that open accounts yearly -
projected at 400,000 and 350,000 over the first two years
respectively, which averagely is One Hundred and Twenty
Naira (N120) per customer

16. l Revenue generated per customer is projected to be Seven
Hundred Naita (N700)
l Customers open accounts diffusely nationwide on the
strength of out large-scale marketing drive including locally at
each branch of our partner bank

17. Financials
Revenue
1. Lisence Fee/Royalty. Fixbit will subsist with a chosen partner
commercial bank that will make a 4.5% per annum total
payout on Fixbit customer deposits in the course of the Fixbit
business. Of this 4.5%, 0.5% is earmarked as royalty payment
per annum to Fixbit.
2. Equity.The proprietor/founder is willing to give-up a majority
share of the company (55%) on the basis of equity hoped to
be raised at the initial round. Ten million Naira
(N10,000,000.00) is earmarked as the amount sourced for at
the fundraising round.
3. Subsequently further rounds. Further rounds of fundraising is
anticipated at the time of Fixbit active growth stage.

18. Projected break even
At a projected customer growth of 750,000 (both individual and
business customers combined) in the first 2 years of operations,
a total revenue income of Five Hundred and Fifty Million Naira
(N550,000,000.00) is projected.
This is calculated on the assumed figure of One Hundred
Thousand
Naira (N100,000.00) as the average annual bank account balance
per customer with 0.5% per annum paid to Fixbit thus:
l First year of roll-out: 400,000 customers. Hence, 400,000 x
N500 = 200 million Naira as revenue (N500 is "interest" on
N100,000.00 for 1 year at 0.5%)

19. l Second year of roll-out: 350,000 customers. Hence, 350,000 x
N500 = N175 million Naira as revenue
Based on the above, break-even will thus occur in a matter of
the first several months of the first year of roll-out given that Ten
million Naira (N10,000,000.00) is the total equity value Fixbit
offers presently.

20. History
l Yet to be incorporated, Fixbit began as an idea in March 2015
l The proprietor obtained a Trade Secret Non Disclosure
Agreement legal document in October 2015
l Fixbit has opened discussions with First City Monument Bank
(FCMB) PLC, for a partnership agreement
l Fixbit is on track to becoming incorporated as a limited
liability company by March 2016

21. Current Status
l Propreitarily owned by its founder Dr. Kofoworola Awojobi,
and on its way to being incorporated as a limited liability
company, Fixbit is at the early start-up phase
l Fixbit has a legal document Trade Secret covered by a Non
Disclosure Agreement
l Fixbit has opened discussions with First City Monument Bank
(FCMB) PLC for a partnership agreement
l Fixbit is poised to raise funds via equity contribution as much
as 55% of the companies worth and Ten Million Naira
(N10,000,000.00) is the amount in view

22. Key Milestones
l Fixbit idea formulated in March 2015
l Trade Secret legal document with Non Disclosure Agreement
obtained in October 2015
l Began discussions with First City Monument Bank (FCMB) PLC
in October 2015 for a partnership agreement
l Now actively seeking equity share holders as it has begun full
incorporation proceedings as a limited liability company