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OjirehPrime Financial Services Limited

OjirehPrime Financial Services Limited

we're leveraging on the online presence of Millenials to build Africa's leading digital bank with retail stores replacing bank branches

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Deal Type

Convertible Note

Funding Goal

$500,000

Current Reservations

$108,000

Minimum Reservation

$5,000

Deal Stage

Seed

Interest (% per year)

5.00%

Term Length (Months)

24 months

Valuation Cap

$10,000,000

Conversion Discount (%)

20%

Warrant Coverage (%)

N/A

Open Date

01/01/2020

Maximum Reservation

$5,000,000

Closing Date

03/31/2020

Elevator Pitch

we leverage the high growth of mobile devices and online presence of millennials and generation Z to provide banking services that replace retail stores as physical branches. it's your bank on your

KPIs

43,000 Users
12 Employees
Cash Flow Positive
$300,000 Sales
$6,000,000 Transaction Volume

Company Overview

Imagine that Africa is home to over seven hundred million adults under 25years of age with five hundred million active phone line on a 50% penetration rate yet three hundred and fifty million adults do not have a bank account. Not just that by in the next three years, Africa will have almost have a billion millennials who will become 18years .

At OjirehPrime we're leveraging the high growth of mobile device and online presence of millennials and generation Z to provide digital banking services leveraging on retail stores to replace physical branches. it's your bank on your phone

Traction

  • 43,000 user base, incorporated in Nigeria and Texas (USA), Banking license licence in view

    January, 2020

Pitch Deck

Press Mentions

Key Customers & Partners

Interswitch Financial Services Verve card Quick teller Fidelity bank

Testimonials

Micheal Kapoor
Micheal Kapoor
Board aDVISOR
"I've been working with and watching Edoka build his company with dedication and integrity as no one else. A true visionary who is a leader in bringing new technology to not only Nigeria but throughout Africa. Congratulations on the progress of Ojireh and honoured to be a part of your success as you grow."

Previous Funding

  • $100,000 Equity
  • Raise Source: Friends
  • November 2018

Frequently Asked Questions

Tell us about how you started?

Our History Started as an online food store called www.ojireh.com in 2016 with no office, computer, funding or logistics except a faulty samsung tab whose battery last only 30mins no matter how long you charge it. The Problem By 2017 we noticed 96% of payments were made via bank transfer so we sent a mail to enquire why and the clients told us for fear of falling victim to card frauds they were not willing to use their bank cards to shop online then suddenly we realised this was the major reason behind the slow growth of online business in Africa. We further discovered that Africa is home to over 700,000,000 adults aged below 25 years with about 500,000,000 active phone lines yet over 350,000,000 adults to not have a bank account. The Solution Our first action was to leveraged upon the use of prepaid cards to provide alternative banking services to the unbanked, become the first banking exposure a generation z child would have and provide a more secure means to support online transactions without exposing

Risks & Disclosures

its a start up an prone to the normal risk as common with all businesses

Documents

Confidential

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