L-PESA:
Introduction
The market is cruel and does not have emotion. Well, this may be true for the market but not for the consumers, as everything a consumer does involves a bit of emotion. Being an emotional entity in the market has its own advantages and disadvantages. What we need is always clear to us from the start, and we achieve it in any way possible. The biases, beliefs and intentions define the nature of the job we are going to do in our life. The banking and financial institution of the world have made it clear that they do not care about the consumers, but only their growth.
Reaching out to everyone and offering them services that everyone else gets is not their priority. The developing countries are at the bottom of the food chain, where they do not have access to the time and resources that developed countries have. The time has come for the redistribution of attention towards people who need it the most, and not the people who have the most.
L-Pesa Microfinance is a fintech startup poised to take advantage of the fast-growing need for financial services in the developing world. L-Pesa has a strong focus on automation. 95% of the user acquisition and loan underwriting process is automated and therefore extremely scalable. The company has spent two years developing its customer-facing and back
office systems using a team of seven software developers. The user experience is based on mobile and web interfaces, and marketing is primarily accomplished via social media and SMS.
office systems using a team of seven software developers. The user experience is based on mobile and web interfaces, and marketing is primarily accomplished via social media and SMS.
L-Pesa’s technology stack is built on top of Amazon Web Services, an extremely scalable on-demand cloud computing platform which has been or is used by major brands such as Netflix, Airbnb, Pinterest, and Spotify. L-Pesa has integrated a number of third party applications to perform tasks such as SMS messaging, user verification, and marketing. Funds transfers are handled via integrations with mobile money service providers such as M-Pesa, Airtel Money, Tigo Pesa, and MTN.
Network Effect:
L-Pesa is not a charity. L-Pesa is purely a business. Being a business gives us certain freedoms that charities don't have. As a business we have to provide a return. In facilitating microfinance, we have to be extremely efficient; the cost of
doing a $1000 loan is the same as $100, and due to operational costs, banks and financial institutions are limited in how low they can go. Blockchain brings transparency and efficiency, and it drastically reduces the operational costs, making the small lending viable. Tokens are efficient transactionally over fiat, so they are more appealing to the L-Pesa target
market, and they also assist in building a community and creating a network effect.
We have been doing it with fiat as an existing operation; blockchain will allow us to expand our reach and lower our costs. Bank financing costs don't allow us to reach the people at the bottom who need it the most. Expanding operation by virtue of expanding reach would allow us to now make facilities available to people who can't be served by banks or microlenders because they’ve been deemed “not profitable”
doing a $1000 loan is the same as $100, and due to operational costs, banks and financial institutions are limited in how low they can go. Blockchain brings transparency and efficiency, and it drastically reduces the operational costs, making the small lending viable. Tokens are efficient transactionally over fiat, so they are more appealing to the L-Pesa target
market, and they also assist in building a community and creating a network effect.
We have been doing it with fiat as an existing operation; blockchain will allow us to expand our reach and lower our costs. Bank financing costs don't allow us to reach the people at the bottom who need it the most. Expanding operation by virtue of expanding reach would allow us to now make facilities available to people who can't be served by banks or microlenders because they’ve been deemed “not profitable”
L-Pesa was founded with the vision to improve people's lives through efficient access to credit and related financial services. Ron Ezra Tuval, the founder of L-Pesa, has spent most of his career working in developing countries and recognized about a decade ago that the most effective way to improve people’s lives is through access to credit and related financial services. Since founding L-Pesa, Ron has been singularly focused on achieving this vision. It’s about making the world a better place for everyone. L-Pesa started offering microfinance services in Tanzania in 2016 and has grown its service offering and geographic footprint at an increasing pace in pursuit of this vision.
L-Pesa creates blockchain-based, smart contract loans enabling people across the internet to grow their businesses and become thriving entrepreneurs. Hopeful visionaries can take loans in Ether or Bitcoin and then participate in L-Pesa’s curated marketplace facilitating peer-to-peer lending: the first crypto loan service in Africa.
Allocation
Founders
Advisors
Team
L-Pesa
For over two years, the L-Pesa community has leveraged their human capital—skill, talent, and expertise—to bring microloans to everyone who wants to grow their business and trade their poverty for dreams come true.
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