{"data":{"type":"company_profile","id":106143,"entity_id":"wefunder:company:106143","attributes":{"canonical_url":"https://wefunder.com/aladdin","generated_at":"2026-06-22T10:59:13Z","updated_at":"2026-06-22T05:03:28Z","entity_ids":{"company":"wefunder:company:106143","slug":"wefunder:company_slug:aladdin"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-22T10:59:13Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-22T05:03:28Z","as_of":"2026-06-22T10:59:13Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-22T05:03:28Z","as_of":"2026-06-22T10:59:13Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-22T10:59:13Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-22T10:59:13Z","confidence":"medium"}}},"company":{"id":106143,"entity_id":"wefunder:company:106143","slug":"aladdin","name":"Aladdin","tagline":"Africa's Digital Bank","elevator_pitch":"Our company via our super app- Aladdin supports SMEs, Freelancers and individuals with the tools (financial, commercial and social) that they need to thrive. 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The new App is designed to provide paym...","published_at":"2023-09-20T22:35:39Z","author_name":"Darlington Onyeagoro","url":"/feed/167267","canonical_url":"https://wefunder.com/feed/167267"},{"id":151001,"entity_id":"wefunder:feed_item:151001","type":"FeedItem::Update","visibility":"public","title":"17 DAYS TO GO...LET'S MAKE A DIFFERENCE","preview":"17 DAYS TO GO...LET'S MAKE A DIFFERENCE","published_at":"2022-05-09T17:09:01Z","author_name":"Darlington Onyeagoro","url":"/feed/151001","canonical_url":"https://wefunder.com/feed/151001"}],"q_and_a":[{"id":185338,"entity_id":"wefunder:comment:185338","question":"Good day, I have some questions: 1. Could you please brief us on licensing side, although it's examined on LI. 2. Out of the loans you provide what is the NPL as numbers and volume as percentage? 3. Do you plan to implement crypto payments/purchases and when? 4. On LI is stated you have 24 employees - do you plan for more? 5. With this 1.2M round what would be the runaway sufficient for as months? What is the current monthly burn and what would be after the rise? 6. When you expect to be break even for this market? Next potential markets? 7. The US entity rising capital will be shareholder in the NG entity right? What is the current cap table, do you have an ESOP for the employees created and is it included in the current valuation? 8. How you plan to update on progress? 9. Maybe the most important question for most of the investors in the current round- how you see/imagine the future exit and would you give us right to participate/keep us in once you grow and big shatks come sniffing in? It's a great development so far and the team is strong I'm definitely in soon after the answers of the above questions. Btw,if you consider any of these Qs are not for the general public I'd be happy to sign a NDA. Best of luck!","author_name":"Marin Marinov","votes":6,"created_at":"2021-12-28T08:03:31Z","canonical_url":"https://wefunder.com/aladdin#question-185338","answers":[{"id":185391,"entity_id":"wefunder:comment:185391","answer":"Thank you Marin for your interest in Aladdin. Find below my response to your questions: 1. As an ecosystem Fintech platform, we leverage on the licence of our partners. For example, to offer financial services (Savings and Loans), we leverage on the license of our banking partner- Purple Money MFB. Also, to offer insurance and investment services we leverage on the license of our partners. As an ever- evolving ecosystem with a Pan-African ambition, this model is the best as it will allow us to integrate and launch new and valuable features and services via our platform quickly. 2. Out of 10,000 loans disbursed, we have 600 loans within the doubtful and lost range with a total of 6% of volume disbursed under recovery. 3. For now, since we are currently operational in Nigeria where the central bank is not favourably disposed to crypto we will not implement crypto payments, but once we commence expansion to other countries that are not hostile to the crypto world, we will launch crypto payments but that service will only available to people within geographies that are not hostile to crypto. We will commence expansion to other African countries by 3rd quarter of 2022. 4. Yes we plan to expand the team strategically by hiring for the different arms of the platform- We need experts to help manage the different offerings in the Financial Hub and we also need to fill up some specific roles in Operations, risk management, compliance, internal control, fraud control, finance managment etc. We also need to hire e-commerce and marketplace experts to manage the Aladdin marketplace and Social media and online community experts, to help manage our online community. We will also need to expand our Dev and IT team to help with the continuous building and managment of our platform. 5. Our current burn rate is $10,500 per month and we expect this to increase to $75,000 per month after our current raise as we aggressively begin to acquire new customers and also expand the team. We plan to grow 10X and increase our customer base to a minimum of 400,000 users in the next 6 months. 6. We expect to breakeven in the next 36 months. The next 36 months will be used for aggressive growth and expansion to other markets. The next potential markets are Ghana, Egypt, Kenya, Rwanda, South Africa and possibly India. However, with the Social media feature of the app, we envisage spontaneous downloads from different countries of the world. 7. The US entity is the main entity of Aladdin. Shareholders in the Nigerian entity will be allocated common stocks in the US entity. However, we are still discussing with our lawyers on how best to handle this. See link our current Cap table: docs.google.com/spre…\u0026amp;rtpof=true\u0026amp;sd=true We have provided for ESOP on our cap table. 8. We plan to update our shareholders and partners with a monthly newsletter covering different aspect of our business.","author_name":"Darlington Onyeagoro","votes":6,"created_at":"2021-12-28T17:59:47Z"}]},{"id":185544,"entity_id":"wefunder:comment:185544","question":"Hi Darlington, I like what I have seen so far, well done!! Am very interested. Are you full time committed to Aladdin? What is the current salaries of the founder(s) and what will it be after the raise?","author_name":"Boudewijn Berendsen","votes":4,"created_at":"2021-12-30T09:52:22Z","canonical_url":"https://wefunder.com/aladdin#question-185544","answers":[{"id":185643,"entity_id":"wefunder:comment:185643","answer":"Thanks Boudewijn for your interest in Aladdin. To answer your question, I work full time for Aladdin and am currently on a monthly allowance of $1,750 per month. Other founders earn between $500 and $1,000 per month in allowances. Founders salary will be increased to a range between $3,000 to $5,000 per month after our current raise. We intend to focus a good percentage of the funds raised in aggressively acquiring new customers and establishing our product and brand.","author_name":"Darlington Onyeagoro","votes":1,"created_at":"2021-12-30T21:18:03Z"}]},{"id":202113,"entity_id":"wefunder:comment:202113","question":"What are the reward tokens used for?","author_name":"Chukwuka Nwaozor","votes":2,"created_at":"2022-04-22T00:22:03Z","canonical_url":"https://wefunder.com/aladdin#question-202113","answers":[{"id":202398,"entity_id":"wefunder:comment:202398","answer":"They are used to play wheel of fortune on the app to win cash rewards","author_name":"Darlington Onyeagoro","votes":2,"created_at":"2022-04-23T18:28:52Z"}]},{"id":194993,"entity_id":"wefunder:comment:194993","question":"Do you have your own bank charter or are you partnering with an existing bank to provide your services?","author_name":"Joseph Marino","votes":2,"created_at":"2022-03-03T16:32:08Z","canonical_url":"https://wefunder.com/aladdin#question-194993","answers":[{"id":195054,"entity_id":"wefunder:comment:195054","answer":"We are partnering with an existing licensed bank and this is consistent with our model as an ecosystem bank. We partner with licensed providers to provide services like insurance, investment, Agency banking etc.","author_name":"Darlington Onyeagoro","votes":2,"created_at":"2022-03-03T22:07:46Z"}]},{"id":191531,"entity_id":"wefunder:comment:191531","question":"Hi Darlington - Thank you for answering my previous questions. Regarding customer growth, the Wefunder page indicates 10x growth by April 2022. In your answers to questions from others you stated 6 months on 12/28, then 6 - 8 months on 2/3, and then 6 months AFTER this round closes (to my question) on 2/5. What's the reason the target keeps getting pushed back? Can you share the current number of customers? How much have you grown since the Wefunder launch? Thanks again.","author_name":"Jeff Park","votes":2,"created_at":"2022-02-08T14:31:18Z","canonical_url":"https://wefunder.com/aladdin#question-191531","answers":[{"id":191660,"entity_id":"wefunder:comment:191660","answer":"Hello Jeff, The April target was set before we launched the Wefunder campaign with hopes of getting funding last year to push for 10X growth, however, since we decided to go the Wefunder route, we have adjusted our expectations as per 10X growth until the campaign is over. The truth is that without funds we are not able much with respect to marketing. Once, we close this round as explained earlier, our major focus will be to grow our user base aggressively. Since we started the campaign in late December 2021 till date (6 weeks ago), we have added 3,624 new customers and this is via referrals, WOM and internal social media push by Aladdin employees without marketing spend.","author_name":"Darlington Onyeagoro","votes":1,"created_at":"2022-02-09T18:33:25Z"}]},{"id":191094,"entity_id":"wefunder:comment:191094","question":"Hi - Interesting company. 1. How does Aladdin compare against competitors? Who are your main fintech competitors in Africa? What are your strengths and weaknesses (please be honest about your weaknesses - all companies have them)? 2. You projected 450k customers by April 2022 (on the Wefunder page). How are you tracking against this projection? 3. How are you acquiring customers today and what is the long-term strategy? Are customers being taken away from competitors, or first time fintech users with Aladdin? 4. Can you break out the $143k 2021 revenue into buckets? 5. You plan to spend 47% of this raise for Recurrent Expenditure. What is that? I'm surprised only 13% will be spent for platform expansion at this early stage. Please explain. 6. Why did you start this company and mission?","author_name":"Jeff Park","votes":2,"created_at":"2022-02-04T13:47:13Z","canonical_url":"https://wefunder.com/aladdin#question-191094","answers":[{"id":191271,"entity_id":"wefunder:comment:191271","answer":"Hi Jeff, thanks for your interest in Aladdin. Below is my answer to your questions: 1a. Most of our competitors like Kuda Bank, Sparkle, VBank, Branch, Umba, Carbon, Fairmoney etc. are still stuck with the old model of monolithic banking with only vertical structures which allows only relationship between the bank and her customers. We are offering much more to our target market. Every Aladdin customer has a profile page and access to traditional banking services, a safe marketplace, business tools and an active social community. 1b. Some of our competitors in Africa include: Kuda Bank, Sparkle, VBank, Opay, Branch, Umba, Carbon, Fairmoney, Chipper Cash etc. 1c. Our Strengths include our product differentiation. We are the only Fintech startup in Africa pioneering both social+ and ecosystem banking. We allow both vertical and horizontal relationships on our app and also provide opportunity for other organisations with valuable solutions to integrate into our ecosystem with a view to serving our customers and generating shared revenue. Our weakness lies in our limited funding which has led to our inability to meet our goals and have delayed a lot solution implementations. 2. We track customer acquisition via Google console and and our in-built dashboards. We track number of downloads, churn rate, number of completed registrations and KYCs and active customers amongst other user metrics. 3. We acquire customers via advertising on Social media, Google Ads, referrals, using influencers, in-built reward scheme etc, 4 The $143k revenue is broken down into 55% ($78.65k) from lending fees, 25% ($35.75k) from payment transactions, 15% ($21.45k) from Bills Payment and 5% ($7.15k) from marketplace transactions 5. This how we intend to spend funds raised at the close of this round: 30.5% towards Marketing (this entails spending funds in advertising on Social media, Google Ads, referrals, using influencers, in-built reward scheme etc,), 30% towards operational expenses, 13% towards platform expansion \u0026amp; security architecture, 26.5% towards work infrastructure and fixed assets (This entails office rentals and furnishing, purchase of operational vehicles, provision for backup electricity/power, stable broadband Internet etc.) 30% and not 47% is earmarked for recurrent expenditure which entails payment of salaries, rent, admin costs, System hosting and support, bank fees, taxes etc. 13% is earmarked for platform expansion and security designed to make our platform more robust in order to handle the planned 10X growth expected 6 months after we close the round. This budget does not include salaries and emoluments for Devs as this has been budgeted under operational/recurrent expenses. 6. We started Aladdin to support SMEs and freelancers. We want to provide SMEs with 360 degrees tools and solutions to help them thrive and this includes financial tools, a safe and robust Pan-African Marketplace, Business management tools and an active community.","author_name":"Darlington Onyeagoro","votes":2,"created_at":"2022-02-05T09:24:51Z"}]},{"id":188441,"entity_id":"wefunder:comment:188441","question":"For how long do you think my investment will yield a return, and how will I withdraw if I wish to","author_name":"Omotayo Esther","votes":2,"created_at":"2022-01-15T12:50:59Z","canonical_url":"https://wefunder.com/aladdin#question-188441","answers":[{"id":188522,"entity_id":"wefunder:comment:188522","answer":"Hi Esther, thanks for your interest in Aladdin and for your reservation. Investment in startups is a mid to long term affair. Investment return is usually tied to company valuation and share price appreciation and this may happen between 12 to 24 months or more depending on the startup. Some take up to 48 months or more for a liquidity event. You can choose to sell of your stake back to the company or to any other willing investor.","author_name":"Darlington Onyeagoro","votes":1,"created_at":"2022-01-16T08:04:46Z"}]},{"id":187531,"entity_id":"wefunder:comment:187531","question":"What are the investor perks? Wefunder shows the levels all as blank.","author_name":"Talanda Williams","votes":2,"created_at":"2022-01-10T08:58:53Z","canonical_url":"https://wefunder.com/aladdin#question-187531","answers":[{"id":187581,"entity_id":"wefunder:comment:187581","answer":"Hi Talanda, thanks for your interest in Aladdin and for your reservation. We have added the perks.","author_name":"Darlington Onyeagoro","votes":3,"created_at":"2022-01-10T17:10:00Z"}]},{"id":185545,"entity_id":"wefunder:comment:185545","question":"When do you plan to offer multinational transactions?","author_name":"Boudewijn Berendsen","votes":2,"created_at":"2021-12-30T09:58:37Z","canonical_url":"https://wefunder.com/aladdin#question-185545","answers":[{"id":185644,"entity_id":"wefunder:comment:185644","answer":"We plan to offer multinational transactions by Q2, 2022. We intend to achieve via partnerships with licensed payment processors and gateways and other companies offering world class solutions","author_name":"Darlington Onyeagoro","votes":4,"created_at":"2021-12-30T21:21:01Z"}]},{"id":264394,"entity_id":"wefunder:comment:264394","question":"Hello, What is the method of banking transactions through your loans? Usury??","author_name":"Wael Alghamdi","votes":1,"created_at":"2023-10-05T22:22:51Z","canonical_url":"https://wefunder.com/aladdin#question-264394","answers":[{"id":264397,"entity_id":"wefunder:comment:264397","answer":"Hi Wael, thanks for your investment. We do not allow or practice usury but we facilitate trade and payments.","author_name":"Darlington Onyeagoro","votes":0,"created_at":"2023-10-05T22:31:08Z"}]},{"id":263914,"entity_id":"wefunder:comment:263914","question":"As an investor, it's good to see Aladdin is still thriving.","author_name":"Charles Russell","votes":1,"created_at":"2023-10-03T00:58:54Z","canonical_url":"https://wefunder.com/aladdin#question-263914","answers":[{"id":263924,"entity_id":"wefunder:comment:263924","answer":"Thank you for been a part of our audacious journey","author_name":"Darlington Onyeagoro","votes":0,"created_at":"2023-10-03T04:37:00Z"}]},{"id":190659,"entity_id":"wefunder:comment:190659","question":"Hi Darlington, Aladdin is putting in a lot of effort to help the small business owners in Africa come online. I have reviewed a lot of material here. I am sending this message with some questions: 1. How do you plan to use the funds? 2. The projections over the year show a very high growth rate. What are the basis and assumptions used to come up with the projections mentioned? Thanks.","author_name":"Lalit Chhablani","votes":1,"created_at":"2022-02-01T12:59:40Z","canonical_url":"https://wefunder.com/aladdin#question-190659","answers":[{"id":190990,"entity_id":"wefunder:comment:190990","answer":"Hi Lalit, thanks for your interest in Aladdin. We plan to use the funds primarily to fuel our planned 10X growth in 6 to 8 months, hire relevant and experienced people especially more devs, experienced bankers and people with marketplace and Social network experience. Our projections are actually conservative when compared to similar Fintechs who have attained the number of users that will plan to attain in the next few months. Our app has a lot features with 14 established revenue lines powered by in-built incentives, so as we onboard more active users, revenue and other metrics are bound to go up","author_name":"Darlington Onyeagoro","votes":0,"created_at":"2022-02-03T17:59:09Z"}]},{"id":287692,"entity_id":"wefunder:comment:287692","question":"I received an email message today from Darlington Onyeagoro describing the upcoming closure of this business at the end of July followed by attempts to sell off the software as the sole asset with any value.","author_name":"Paul Kapsar","votes":0,"created_at":"2024-07-12T21:16:33Z","canonical_url":"https://wefunder.com/aladdin#question-287692","answers":[]},{"id":280725,"entity_id":"wefunder:comment:280725","question":"Hi Darlington, Thanks for your response. you mentioned that you provide tripartite transactions such as Remittance of funds into Africa, Payouts from Africa and inter-African payments. but could you please explain precisely?","author_name":"Elnaz Davoodabadi","votes":0,"created_at":"2024-04-05T18:59:27Z","canonical_url":"https://wefunder.com/aladdin#question-280725","answers":[]},{"id":280321,"entity_id":"wefunder:comment:280321","question":"Good day, I have some question about your start up. could you please tell me about your plan for becoming profitable? also please explain how you will differentiate yourself from competition? and what is your vision from 2030 about your startup? thank you","author_name":"Elnaz Davoodabadi","votes":0,"created_at":"2024-04-02T12:12:42Z","canonical_url":"https://wefunder.com/aladdin#question-280321","answers":[{"id":280345,"entity_id":"wefunder:comment:280345","answer":"We plan to become profitable by focusing on providing multi-currency cross border payments and collections for both individual and business customers. We differentiate ourselves from our competitors because we provide tripartite transactions such as Remittance of funds into Africa, Payouts from Africa and inter-African payments. By 2030, we aim to control 10% of payment transactions in Africa.","author_name":"Darlington Onyeagoro","votes":1,"created_at":"2024-04-02T16:23:50Z"}]},{"id":271066,"entity_id":"wefunder:comment:271066","question":"Hi! First of all, I love the idea. A few questions: who are your main competitors in Africa? Have any larger payment companies entered the continent? Second, do you have the ability to pay a merchant with a card using the app or do both users need the app? Also, have you turned a profit, and how much revenue do you make per transaction? Thanks!","author_name":"Andrew Neely","votes":0,"created_at":"2023-12-08T20:47:11Z","canonical_url":"https://wefunder.com/aladdin#question-271066","answers":[{"id":271075,"entity_id":"wefunder:comment:271075","answer":"Thanks Andrew, See my response to your questions below: 1. Our competitors include Chipper cash, Eversend, Yellow Card. All our competitors focus on personal accounts while we offer both personal and business accounts with end to end solutions for business management 2. Big payment companies are yet to penetrate the African Market 3.We are able to fund our wallet with cards and make Payouts to Bank accounts and mobile money wallets. 4. We are revenue positive but not profitable. Unit revenue is variable as we make money from FX margins and Fees","author_name":"Darlington Onyeagoro","votes":0,"created_at":"2023-12-08T21:43:14Z"}]},{"id":270981,"entity_id":"wefunder:comment:270981","question":"Kushe-o! Seeing you're partnered with @Expert DOJO tells me you have excellent potential, congratulations! I noticed some of my questions have been asked by others last year. However, I'm hoping for a more updated status on the following questions if possible: 1) It seems most of your revenue comes from loans. What is the latest % you pull from loans? 2) Are loans secured in anyway? 2a) What recourse exists in the local economic environment to reclaim a defaulted loan and what is the latest default rate? 3) You mentioned starting the core business in the bustling Nigerian economy and expanding to several others. Where is your app currently FULLY operating? And finally, 4) Who are the 2 biggest competitors you are facing at this point of the business? Tenki! 07.12.2023.","author_name":"Martin D. ","votes":0,"created_at":"2023-12-07T21:07:32Z","canonical_url":"https://wefunder.com/aladdin#question-270981","answers":[{"id":270996,"entity_id":"wefunder:comment:270996","answer":"Thanks a lot Martin for your interest in Aladdin. See my response to your questions below: 1. We slowed down aggressively in offering unsecured nano and retail loans but still offer secure Travel loans with Zero default. Only 27% of our revenue come from loans now. 2. Travel loans which we offer is 100% secure as we place a lien on the disbursed amount and interest and fees are paid upfront before disbursement 3. Yeah, we started in Nigeria but can now terminate transactions into 33 African countries, the UK, the US and Europe via partnerships with licensed money transmitters in different jurisdictions 4. Our biggest competitors are Eversend and Lemfi. However, why they focus only personal accounts, we offer both personal and business account solutions and we are the first fintech to build a system to aggregate and connect businesses across Africa.","author_name":"Darlington Onyeagoro","votes":0,"created_at":"2023-12-07T22:25:51Z"}]},{"id":270788,"entity_id":"wefunder:comment:270788","question":"Hi, here are some questions that could enlighten me on the Aladdin project To date, in which countries do you operate and what is your number of regular users ? What will your 2023 revenus be ? The year is almost over so it should be quite easy to have a fairly accurate estimate. Why so much fundraising and what is your current burn rate ? In a few lines, what were the milestones reached over the last 2 years and what will be those in the next 2 ? I saw on your LinkedIn profile, Mr. Darlington Onyeagoro, that you were working full time on 3 startups simultaneously. For me it is therefore a third time. Isn't this a handicap for the success of the Aladdin project ?","author_name":"Regis Marechal","votes":0,"created_at":"2023-12-06T14:59:09Z","canonical_url":"https://wefunder.com/aladdin#question-270788","answers":[{"id":270798,"entity_id":"wefunder:comment:270798","answer":"Hi Regis, thanks for your enquiries. See my response below: 1. We operate currently in Nigeria, but with the launch of our new app, we will be targeting 10 African countries - Kenya, Ghana, Uganda, Rwanda, Tanzania, South Africa, Cameroon, Egypt, Benin, Ivory Coast etc. 2. Projected revenue for 2023 is $222,000 3. We are still in our pre-seed round of 1.2 Million. We have only raised about $750k since we started and we are just trying to close this round 4. Our burn rate is $19,500 per month on the average 5. In the last two years, we have acquired over 150,000 customers with a transaction volume of $150 Million. In the next two years, we intend to increase our customer base to over 750,000 as we begin to target users in other markets outside our current Nigerian market. 6. May need to update my profile- Aladdin is my main focus. One of the other products started before Aladdin and is more of a community effort designed to help detect and reduce fraud for participating fintechs, and the other product is not active but was also designed to help customers detect and recover excess bank charges.","author_name":"Darlington Onyeagoro","votes":1,"created_at":"2023-12-06T17:49:59Z"}]},{"id":268600,"entity_id":"wefunder:comment:268600","question":"Hello Mr Darlington. Thank you for answering my previous questions. I would like to know why you have to rely or partner with another bank- Coronation Microfinance Bank to provide financial services to your users. As a digital fintech bank providing financial services to your numerous users, why is not possible for you to obtain your own banking licence just like Kuda which is another digital fintech bank operating in Nigeria? I am asking from the point of view that there seems to be delays when money transfers or payments is made to the virtual account number provided by your partner bank.","author_name":"Tochukwu Valentine Okafor","votes":0,"created_at":"2023-11-09T23:58:33Z","canonical_url":"https://wefunder.com/aladdin#question-268600","answers":[{"id":268623,"entity_id":"wefunder:comment:268623","answer":"Hello Tochukwu, thanks for your question. Aladdin is not a bank and hence we do not own a banking license. Aladdin is a Fintech that partners with banks and other licensed money transmitters to provide payments and trade solutions. And just like many Fintechs, our wallet system is tied to virtual accounts provided by our partner banks. Customers can also fund their wallet via linked debit cards. We have noticed the issues with one of our partners- Coronation Merchant Bank and have stopped issuing their virtual accounts to our customers and have provided 3 more alternatives.","author_name":"Darlington Onyeagoro","votes":1,"created_at":"2023-11-10T09:30:56Z"}]},{"id":268541,"entity_id":"wefunder:comment:268541","question":"Hello Mr Darlington. Hope you are well. I have another question that I would like you to answer. I would like to know if there's a dividends payout for investment in this startup and how does an investor receive such dividends. Moreover, how can investor get his/her investment back if he wish to at some point?","author_name":"Tochukwu Valentine Okafor","votes":0,"created_at":"2023-11-09T13:51:50Z","canonical_url":"https://wefunder.com/aladdin#question-268541","answers":[{"id":268546,"entity_id":"wefunder:comment:268546","answer":"Hello Tochukwu, investment in early stage startups is a mid to long term valuation game. This means that your investments do not pay dividends like regular investments in listed or public companies however, the value of your shares increases as the value of the company grows. Our current Valuation is $9 million and this will most likely go up in a few months when a new Valuation is done and we raise our Seed round. Once, the seed round is finalised and system is structured, you may choose to sell of your shares at most likely at higher price or you may keep your shares till we raise future rounds like Series A or Series B or will go public, merge with a bigger company or sell to a bigger company. Sometimes, you can get as much as 10X or 20X the value of your initial investment. For example, some.peoppe who invested in the early stages of Uber got more than 100X the value of their initial investment. Most of them patiently kept their shares till the company went public via na IPO.","author_name":"Darlington Onyeagoro","votes":3,"created_at":"2023-11-09T15:09:51Z"}]},{"id":268539,"entity_id":"wefunder:comment:268539","question":"What does Investor Perks mean and how can an investor benefit from it?","author_name":"Tochukwu Valentine Okafor","votes":0,"created_at":"2023-11-09T13:38:55Z","canonical_url":"https://wefunder.com/aladdin#question-268539","answers":[{"id":268540,"entity_id":"wefunder:comment:268540","answer":"Thanks Tochukwu for your question. The perks we provide are valuation discounts for certain investment milestones. This translates to buying Aladdin shares at lower price point than the normal price.","author_name":"Darlington Onyeagoro","votes":0,"created_at":"2023-11-09T13:49:40Z"}]},{"id":206037,"entity_id":"wefunder:comment:206037","question":"Dear team, on the “front page” below the clock ticking down, the valuation cap is indicated with USD9mln. When I wanted to invest , the deal terms state that the valuation cap is USD8mln. Which one is correct?","author_name":"Martin Brenner","votes":0,"created_at":"2022-05-23T20:58:12Z","canonical_url":"https://wefunder.com/aladdin#question-206037","answers":[{"id":206086,"entity_id":"wefunder:comment:206086","answer":"Hi Martin, Thank you for your interest in Aladdin. The correct valuation is $9 mln but people that indicated interest during the early bird season before we hit out initial Milestone enjoy a discount and invest at lower valuation of $8 mln. Shares will be distributed automatically based on how and when you invested .","author_name":"Darlington Onyeagoro","votes":0,"created_at":"2022-05-24T04:08:51Z"}]},{"id":205244,"entity_id":"wefunder:comment:205244","question":"Thanks for your quick response, I definitely see lot of potential and there is a lot of untapped market opportunity, I have a follow-up question, currently is your software development done in Nigeria or is outside, also is it out-sourced or do you have an in-house team, 2. Additionally I have seen companies focussed in Africa has teams spreaded out through-out the world, for e.g. Tala, payjoy etc, Tala had been one of the customers of company which I worked for. Do you have plans to adopt this model? Of course it depends on the funding amount because the costs varies. 3. Also any specific reason why the 4 month revenue is on the lower side: $45,343, you made $143k last year.","author_name":"Krishnan Ramachandran","votes":0,"created_at":"2022-05-16T15:29:15Z","canonical_url":"https://wefunder.com/aladdin#question-205244","answers":[{"id":205416,"entity_id":"wefunder:comment:205416","answer":"Hi Krishnan, Thanks once again for reaching out. Let me answer your questions; 1. Our software is developed in Nigeria with also collaborations from our partners around the globe. 2. We also plan to have teams around the globe but like you said, we need to be conscious of our operational cost. 3.The reason for the lower revenue posted was due to the fact that we just launched our new app this year and we focused more on migrating old customers to the new app and stabilising the app. We only commenced marketing last month.","author_name":"Darlington Onyeagoro","votes":0,"created_at":"2022-05-17T17:04:35Z"}]},{"id":205201,"entity_id":"wefunder:comment:205201","question":"Congrats on what you have achieved so far, i have a few questions 1. Did you already close mot of your target funding of 1.2 M outside of refunder? 2. What is the level of support Aladdin received from 7 YC alums? did they invest or is it mentorship and partnership opportunities? 3. What is the micro loan size? what is the interest rate you offer? What are the different loan types, I see salary loans up to 10k? What are the different collaterals do you use? 4.How do you vet the users for the loan? do you use any partners? 5.You seem to offer vertically integrated services, which is good but creates a bit of concern at this early stage spreading yourself too thin to focus on a specific area. what is your core business area you are focussing at this time? 6.What are 4 month revenues in 2022? 7. Is the $105k through reg D invested by LoftyInc LLC \u0026amp; Afropreneurs","author_name":"Krishnan Ramachandran","votes":0,"created_at":"2022-05-15T21:02:22Z","canonical_url":"https://wefunder.com/aladdin#question-205201","answers":[{"id":205222,"entity_id":"wefunder:comment:205222","answer":"Thanks Krishnan thanks for your interest in Aladdin. Apologies for my delayed response. Let me answer some of your questions: 1. We have some considerable amount outside Wefunder and are still at advanced stages of discusion with some investors. We are still open to introductions just in case you know anyone interested in what we are doing and may want to invest 2. The 7 YC Alums are experienced CEOs and have been largely supported by sharing their experience and network with us. They have also endorsed for YC program and we hope to get selected by YC soon 3. Our nano/micro loan size ranges from $10 to $220 while salary loans range from $220 to $10,000. These loans are uncollaterized but are secured with debit from tokenized cards, direct debit from bank accounts and sometimes depending on the amount, signed undated checks. Other loans in the works include Auto-loans, SME loans, Invoice discounting, Leases and BNPL scheme 4. We vet users by automatically pulling and analysing their bank statements using our partner APIs and also make use our internally built scoring and underwriting processes 5. We focus on offering financial services but with add-ons like a marketplace, social community and 9 to 5 benefits designed to empower our customers 6. Revenue in the last 4 months have been $45,343. Sure, the $105k was invested by LoftyInc LLC \u0026amp; Afropreneurs through reg D","author_name":"Darlington Onyeagoro","votes":2,"created_at":"2022-05-16T08:52:29Z"}]},{"id":205040,"entity_id":"wefunder:comment:205040","question":"Congrats on the wefunder campaign! 1) How do you qualify the customers applying for loan? 2) Is the mobile app cybersecurity is in place? 3) Do you plan to enter other african countries this year? 4) What are the exit plans?","author_name":"Karthikeyan Kuppusamy","votes":0,"created_at":"2022-05-13T07:04:40Z","canonical_url":"https://wefunder.com/aladdin#question-205040","answers":[{"id":205223,"entity_id":"wefunder:comment:205223","answer":"Hi Karthikeyan Kuppusamy, Thanks for your interest in Aladdin. Apologies for my delayed response. Let me answer your questions: 1. We vet users by automatically pulling and analysing their bank statements using our partner APIs and also make use our internally built scoring and underwriting processes 2. Cybersecurity is in place as we take security very seriously 3. We plan to focus on Nigeria this year, stabilise the business and maybe next year consider other African countries 4. We plan to be unicorn in the next 36 months and move for an IPO but we are open to other favourable exit plans like a buyout or M\u0026amp;A.","author_name":"Darlington Onyeagoro","votes":1,"created_at":"2022-05-16T08:56:33Z"}]}],"faq":[{"question":"Good day, I have some questions: 1. Could you please brief us on licensing side, although it's examined on LI. 2. Out of the loans you provide what is the NPL as numbers and volume as percentage? 3. Do you plan to implement crypto payments/purchases and when? 4. On LI is state...","answer":"Thank you Marin for your interest in Aladdin. Find below my response to your questions: 1. As an ecosystem Fintech platform, we leverage on the licence of our partners. For example, to offer financial services (Savings and Loans), we leverage on the license of our banking partner- Purple Money MFB. Also, to offer insurance and investment services we leverage on the license of our partners. As an ever- evolving ecosystem with a Pan-African ambition, this model is the best as it will allow us t..."},{"question":"Hi Darlington, I like what I have seen so far, well done!! Am very interested. Are you full time committed to Aladdin? What is the current salaries of the founder(s) and what will it be after the raise?","answer":"Thanks Boudewijn for your interest in Aladdin. To answer your question, I work full time for Aladdin and am currently on a monthly allowance of $1,750 per month. Other founders earn between $500 and $1,000 per month in allowances. Founders salary will be increased to a range between $3,000 to $5,000 per month after our current raise. We intend to focus a good percentage of the funds raised in aggressively acquiring new customers and establishing our product and brand."},{"question":"When do you plan to offer multinational transactions?","answer":"We plan to offer multinational transactions by Q2, 2022. We intend to achieve via partnerships with licensed payment processors and gateways and other companies offering world class solutions"},{"question":"What are the investor perks? Wefunder shows the levels all as blank.","answer":"Hi Talanda, thanks for your interest in Aladdin and for your reservation. We have added the perks."},{"question":"For how long do you think my investment will yield a return, and how will I withdraw if I wish to","answer":"Hi Esther, thanks for your interest in Aladdin and for your reservation. Investment in startups is a mid to long term affair. Investment return is usually tied to company valuation and share price appreciation and this may happen between 12 to 24 months or more depending on the startup. Some take up to 48 months or more for a liquidity event. You can choose to sell of your stake back to the company or to any other willing investor."}]}}}