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PayHippo
Lagos, Nigeria


Open Date 2020/10/13 12:00:AM
Investor Memo

PayHippo.ng provides financing for SMEs in Africa. We identify SME capital needs in value chains and fill that gap with financing. We are unlocking capital when and where SMEs need it most.

Unfair Advantage, Problem & Competition
We are capable of identifying when and where a business needs money the most. By unlocking those capital limitations to business operations, we provide credit that allows the business to grow and ensure repayment.

We Help African SMEs with the Following Problem
African SMEs fail to utilize lender capital effectively hence they default on repayment because they:
1. Don't know how to identify key growth aspects of their business which is in need of funding.
2. Spend lender capital in-efficiently especially on items that don't impact the growth of their businesses.
3. Access needed capital late due to the long and poor disbursement process by existing lenders.

Product
PayHippo helps SMEs access and spend lender credit effectively.
We do this through these solutions:
1. PayHippo Mines - Discover key areas of a business that needs financing from historical financial data uploaded via Excel or API integration.
2. PayHippo Credit - Access fast credit to pay for key operational aspects needed to grow a business
3. PayHippo Scores - Download full business credit rating and worthiness report based on all real-time transactions.
NB: This credit rating can be used to access loans from partner third-party financial partners.

Market Opportunity
We play in a $13B Market growing 3% annually and with the capability of processing 400 million SME loans yearly.
There are 40 million SMEs in Nigeria, which is our beachhead market.

Team
Our 3 co-founders have worked together before PayHippo and each have founding experience.CEO: Zach has startup CEO experience and worked in digital lending in Nigeria.
Uche, previous CTO at SeatJoy in the Bay Area before becoming PayHippo’s CTO. Chioma started the Nigeria division of Teach for America as Head of Operations.

Investor Updates

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