Problem Statement
"I survive on the daily profit. I need credit to buy more goods and make bigger profit to care for my family." - Iya Yetunde, retailer in Erejuwa, Bucknor, Lagos Island.
Retailers can only access 30% of their credit needs.
Solution
we aim to solve the distribution problems ignored by others.
SETA CREDIT provides more credit to retailers to buy more from distributors.
How it Works
- No Collateral Needed.
- No Banking History.
- No retailer App required.
- Simple & Straightforward.
- #50,000 to #500,000 Credit.
- One Week Recurring Credit.
- 1% Charge on credit given.
Market Opportunity
- Total Available Market
Total credit needed by 1.2 million retailers in Nigeria.
- Serviceable Available Market.
Credit needs of 360,000 retailers who have sales records with distributors.
- Serviceable Obtainable Market
Credit we plan to disburse to 180,000 retailers in 3 years.
Competitive Landscape
SETA CREDIT ADVANTAGES
Lending Partners
Credit Scoring System
based on sales history
Network
of FCMG distributors and retailers.
Business Model
A Distributor onboards an average of 150 retailers.
Credit
4 times a month on a recurrent basis
Interest Rate
Revenue
Net Revenue per distributor monthly
Traction
| NOW | IN 12 MONTHS | ||
|---|---|---|---|
|
No. of Retailers |
1,000 |
No. of Retailers |
10,000 |
|
No. of Distributors |
3 |
No. of Distributors |
86 |
|
No. of Disbursements |
30 |
No. of Disbursements |
20,000 |
|
Revenue |
$5,000 |
Revenue |
$750,000 |
Meet
our team
With more than 10 years combined experience in TECH and FCMG.
CEO
AITO JOSEPH OSEMEGBE
Aito is a sales manager and has worked with top consumer-goods, brands and distributors in Nigeria. He is a tech and financial inclusion consultant for notable banks and startups.
CTO
IBUKUN OLADIPO
Ibukun is a top-level programmer; developing various solutions since 2008; Expert in General software development/engineering, web or mobile applications, payment modules and other plugin development.
FINANCIAL
We are looking for 12 months of runway to give credit to 10,000 retailers on SETA.
Pre-Seed Rounds
SAFE
At $1 million post money valuation
10k Disbursements
Avg. of $450 monthly per retailer.
$29million in 12months.
$750,00 Revenue
In Over 12months