Question 1

Hello, interesting company best of luck to you. The perks appear to be blank but looks like there are perk levels. What is the perk at 500 and 1000 dollar level?

Accepted Answer

Good morning, the main perks is the opportunity to invest early on in a new financial ecosystem tool that will impact millions in emerging markets, and my team design a nice Unique makeba investor customized tee shirt that we will ship to the early investors. Have a wonderful weekend.

Question 2

In your video you mention Venmo, PayPal, and Square. How do you plan to compete with these companies in Africa? I understand that they are also very interested in the African market and will likely increase their own investments there. Do you have a specific strategy in mind t...

Accepted Answer

Good morning, thank you very much for your question Jason, Africa is composed of 54 countries, each with different markets dynamics and banking regulations, we have agreement in place with 14 countries mainly in west africa for now, PayPal and square are relying on Visa MasterCard etc... to operate witch cost merchants from 2.75% to 3% of the gross sales, makeba is at 0.25% to make sure the remittances inbound stays in the ecosystem by being spend with merchants that accepts Makeba. So I gues...

Question 3

No doubt this is a huge opportunity, but the pathway into the US and Europe won't be easy or cheap, implying that you'll need many millions more (you estimate $7M in your proffer). Where do you plan to get it? Is Senegal your next strategic focus, or US/Europe rollout? To date...

Accepted Answer

Hi Todd, Thank you for your question. We have indeed experienced how difficult it is to find a bank partner in the US and EU market, but we have closed the loop on both relationships and part of this round of funding will be allocated to the necessary costs of implementing both relationships. In order to get to this point, part of our cash burn was to build very robust AML/BSA compliance programs to meet regulatory and bank requirements. Once we have implemented the EU/US bank relationships, ...

Question 4

Why did you decide to start in Africa? I know there are other countries (e.g. Mexico, the Philippines, etc.) with strong remittance markets. Also, you had a net loss of around $900k last year and are trying to raise $700k in this investing round. How will you ensure the money ...

Accepted Answer

Hi Kyle, We decided to start in Africa because of my familiarity and network in the region and because it is the market with the highest cost of remittances. The net loss from the last two years was necessary because we had to set up a lot of regulatory frameworks and had to invest in the development of mobile applications and the technology for the Makeba system. Now that we have completed the development of the product and will start to book user revenue, we will not be netting a loss at th...

Question 5

Hi Alexander, can you please give us an update on: - how many customers Makeba have right now (August 2nd) ? - can you disclosure how many transactions did you processed last month ? Thanks

Accepted Answer

Hi Gabriel, Thank you for learning about Makeba and submitting your questions. I’m happy to report that July saw our continued user acquisition growth. As of August 2nd, we are now at 2,943 individual Makeba Money users (Prev Month June: 2,282) and 296 Makeba Merchant users (Prev Month June: 224), for a total of 3,239 users. As far as transactions, we processed 623 total transactions in the month of July. As we develop the merchant network, we will see an increase in the number of transaction...

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Easier payments and remittances for emerging markets

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