Recent news about African startups in fintech mostly revolve around payments. It’s exciting to see how payment solutions are making it easier for businesses to make revenue. Within the space of these several payment systems, one startup is working to provide a complete solution for retail businesses to receive monies, track inventories and build sound financial models from past trends. KudiGO has been working since 2016 to make this possible for African retail businesses, from the startup’s office in Accra.
The goal has been to provide an all-in-one retail POS for stores, something which is missing from the market currently. The hope for KudiGO is that it will enable its customers to have verifiable records, businesses oversight, and easier access to capital. The user-oriented solution takes into considerations network connectivity in Sub-Saharan Africa and provides an offline-online sync to help stores have their data backed up securely in the cloud.
The pride of KudiGO does not lie in just providing the solution for these stores. Even better, it works at making these owners, mostly high-school leavers and the illiterate, financially inclusive; a move they believe transcends the company’s bottom line to drastically improve lives and promote financial literacy across the continent.
With their eyes set on providing value all through, KudiGO offers its enterprise clients(manufacturers, distributors, etc) insights into how their products are moving across the value chain as the stores make their sales. KudiGO provides these insights in a separate product called KudiGO Foresight, which enterprise clients hold dear as it helps them to plan and make projections, with the concrete real-time data they receive for that purpose.
With its 5-person team, the startup has already expanded beyond Ghana into Nigeria, Africa’s largest population and currently has over 300 businesses using its solution. This has resulted in more than 300,000 inventories uploaded onto KudiGO’s system, with over 5,000 orders processed as at now. For a startup which began operations barely two years ago, this is a huge leap leading into success.
What makes these numbers possible, beyond the team’s hard work, are the platforms and products they have integrated with. Their partnership with Sage was a monumental step and it provides a launchpad into existing retail solutions. Even more notably, KudiGO has been listed on the SAGE Marketplace making them available to SAGE’s customers across Sub-saharan Africa.
The recent strategic partnership with InterSwitch Group provides an even better experience as it helps them to process payments for their growing customer base spread across the continent, helping both KudiGO and its customers to concentrate on what matters most — financial data.
These partnerships make it even more possible for KudiGO to offer truly one-stop shop solutions for the many customers it aims to reach.
These expansion feats come along the startup’s participation in several startup competitions. Two readily come to mind — the first being Seedstars Accra, and the other, , DEMO Africa, which was held in Johannesburg, South Africa in October 2017 with the recent one being the startups selection by the IFC as one of the 100 african startups who will be meeting investors and key stakeholders at the Business Africa Forum in Egypt next month. Together with 29 other startups, KudiGO pitched to investors at DEMO Africa, hoping to raise funds to seed its ambitious goals. It is currently closing its maiden round of funding, and launch is at the 2nd Tech In Ghana Conference, slated for November 27–28 2018 in Accra.