Badala

others

FOUNDING YEAR: 2016
LOCATION: United States
Last Update: 08/09/2020

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About

We help sell, send money and request money in Africa through a, secure and easy wallet.

MEDICI Analysis

Focus

PRODUCTS & SERVICES

Badala is a wallet and direct mobile billing payment gateway that allows merchants who use bank card based billing gateways to receive payments from their customers who pay with their phone bills in the African market. Consumers can use carrier billing to buy content on any digital platform. For example, Tawana can buy a video streaming subscription on a smart phone/tablet device by confirming the payment on his phone. Now Tawana who maybe one of the millions of unbanked/"bankcardless" does not have to hustle at the bank to help him transfer money or make onlne purchases. He can use his mobile phone to transact online.

REVENUE MODEL

Our revenue model is transactional.

PRIMARY PROBLEM SOLVED

Africa is an emerging market. Yet more than 82% of online users do not use card-based payments. Card-based payments penetration rate is less than 9%. In South Africa, 82% of users bills are paid on the phone and globally, there are 5 mobile phone owners per each credit card owner. Versus most established markets which use bank-cards, these markets are different. The real problem is that, for millennials like Tawana, most of whom want to purchase services and goods online which require bank-cards like VISA or MasterCard is almost impossible. Tawana has no bank account but does have a mobile phone. As I alluded above, we have Nancy an online teacher and Tawana is a learner in Kenya. How does Tawana pay for online lessons when he has no VISA/Mastercard? Most times Tawana uses carrier billing on his mobile phone to pay bills. How about we utilize that and help him pay Nancy? Hence the need for Badala.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

REVENUE

$0 - $99k

NUMBER OF TRANSACTIONS:

8.00

TRANSACTIONS VALUE:

24.00

ACTIVE USERS:

25

People

BOARD MEMBERS AND ADVISORS

Mkhululi Ndlovu

Moses Kurenjekwa

INVESTORS:

1440

TEEP

Momentum

FUNDED

YES

TOTAL FUNDING

$1.04 M

DATE OF LAST FUNDING

2017

SEED & PRIOR FUNDING

$38 K

SEED CLOSED ON

May 2016

SEED PRIOR FUNDING COMMENT

We received $10K from TEEP and $38K from Ingram. It gave Ingram 7% equity in the company.

FUNDING SERIES

SERIES A  · $1 M  · Aug 2017

LISTED

NO

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Badala

About

Badala is a scalable direct carrier billing API that connects the world to Africa. It gives innovation, infrastructure and services to enable global merchants and mobile network providers to accept and process payment on any channel (Web and Mobile). It allows users to make purchases by charging payments to their mobile phone bill. This payment method is available to all smartphone and feature phone owners. The only thing needed to confirm payments is a device with a SIM card.

Focus

PRODUCTS & SERVICES

Badala is a wallet and direct mobile billing payment gateway that allows merchants who use bank card based billing gateways to receive payments from their customers who pay with their phone bills in the African market. Consumers can use carrier billing to buy content on any digital platform. For example, Tawana can buy a video streaming subscription on a smart phone/tablet device by confirming the payment on his phone. Now Tawana who maybe one of the millions of unbanked/"bankcardless" does not have to hustle at the bank to help him transfer money or make onlne purchases. He can use his mobile phone to transact online.

REVENUE MODEL

Our revenue model is transactional.

TOP PROBLEM SOLVED

Africa is an emerging market. Yet more than 82% of online users do not use card-based payments. Card-based payments penetration rate is less than 9%. In South Africa, 82% of users bills are paid on the phone and globally, there are 5 mobile phone owners per each credit card owner. Versus most established markets which use bank-cards, these markets are different. The real problem is that, for millennials like Tawana, most of whom want to purchase services and goods online which require bank-cards like VISA or MasterCard is almost impossible. Tawana has no bank account but does have a mobile phone. As I alluded above, we have Nancy an online teacher and Tawana is a learner in Kenya. How does Tawana pay for online lessons when he has no VISA/Mastercard? Most times Tawana uses carrier billing on his mobile phone to pay bills. How about we utilize that and help him pay Nancy? Hence the need for Badala.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

We are now live test with 25 users

KEY DIFFERENTIATORS

Our key differentiators will be: Number of users Number of merchants Number of transactions

PRIMARY CUSTOMER TYPE

Enterprise - Retailers

Small and Medium Business - Online Retail

STRATEGIC CLIENTS AND PARTNERSHIP

EcoBank : They host of Forex account

PayPal : Our customers can withdraw they money through PayPal's API

Western Union Business Solutions : Our customers can withdraw they money through Western Union's API

Telecel : We have their API for our gateway

Orange Money : We have their API for our gateway

TigoCash : We have their API for our gateway

Mpesa : We have their API for our gateway

MTN Money : We have their API for our gateway

BitFinance : Our customers can withdraw they money using Bitcoins through BitFinance's API

Zipit : Our customers can withdraw they money through Zipit's API

Traction

ANNUAL REVENUE:

$0 - $99k

NUMBER OF TRANSACTIONS:

8.00

TRANSACTIONS VALUE:

24.00

ACTIVE USERS/ACCOUNTS:

25 Million

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Through our marketing strategy which includes Social Media, Blogging, Content Management and direct calls & emails.

CHANNEL STATUS

INITIAL CLIENTS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

8

People

NUMBER OF EMPLOYEES

1-10

TEAM COMMENT:

We have a solid team is in place. Munyaradzi is our CFO, Tafadzwa is our CTO,Callie is our CMO. Each one of us is qualified,has the relevant experience for the roles they undertake,is determined to Badala become a true success. Our experience is over 30 years combined.

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
May 2016
USD38 K
at a USD543 Kvaluation
Comment on Seed
We received $10K from TEEP and $38K from Ingram. It gave Ingram 7% equity in the company.

Comment on Valuation

Ingram's 1440 has 7% in the company TEEP 1440
Series A
Aug 2017
USD1 M
at a USD4 Mvaluation
Comment on Series A
We are to use the funding for perfecting the gateway developement, regulations and registration processes, recruitment and marketing.