Summary:
Gigmile is the services and financial infrastructure for mobility-based gig work in Africa.We are democratizing access to asset financing, working capital and key services which gigworkers require to succeed in Africaβs fast-rising Gig Economy.
The Gig Economy in Africa is being held back!In recent years, Africa has seen the launch of severaldigital commerce platforms like UberEATS, Jumia andBolt. Upon the launch of these platforms, they expectto record exciting traction akin to the experience inAmerica and Europe. But this is hampered by keychallenges, one of which, is the very limited supply ofgig workers. Africa has a massive population butpotential gig workers do not have the requiredproductive tools (Vehicles, Smartphones etc.) toparticipate in the Gig Economy.Beyond productive tools, there is also a huge pool ofmobility-based entrepreneurs who need access toskills training and other financial services like microcredits which they need to thrive in the Gig Economy.
Solution:
Gigmile is the operating system for Africaβs Gigeconomy. Through our mobile app, gig workers, via ouralternative credit scoring algorithm get qualified forvarious financing options ranging from motorcyclefinancing, smartphone financing and fuel advance.They also get access to earned wages and thecontinuous support the need to succeed on ourpartner platforms.
An example of Gigmile in action: Before discovering Gigmile, 27 year-old Sam from Ghana was renting a motorcycle with no hope of ownership and struggling to earn. After finding Gigmile, he joined our Lease to Own program and has seen his income increase by more than double in just a few months. Our Business Model focuses on a Customer Segment: B2B2CRevenue Streams: Asset Financing, Micro-Credits &Platform Fees
Market:
The African two-wheeler market is estimated to expand at a CAGR of 9.1%to reach $9.3B by 2030.
In addition to our current Traction above, we've done over $260k AUM, launched in both Ghana and Nigeria, deployed over 200+ motorcycles and Smartphones to Gig-workers, have had a 98% Repayment rates, and closed partnership with major digital commerceplatforms β Jumia, BoltFood, Sendy, Omnibiz.