Unlocking the potential of unbanked communities

What is the problem?

Saving up and being able to borrow money to invest in one’s future or get through tough times are critical factors to overcoming poverty. However, every second adults in the world do not have access to formal financial services for saving or borrowing.

JamiiPay is taking part in closing this gap and we are starting in Ethiopia. Ethiopia’s economy is booming but 25 million live in poverty and 80 million do not have access to banks or mobile money, out of a total of 102 million citizens.

0 billion
of worlds 18+ population is financially underserved

Our mission is to empower people with big dreams in need of financial support by increasing access to loans. 

How JamiiPay works

JamiiPay is a service developed with and for the unbanked communities. We provide opportunities for saving in a stable currency, with low cost transactions, free payments, and access to loans.

CHEAP TRANSFERS

Send  and  receive  money  for a small fee  whilst  making  payments  for  free.

TRUE INCLUSION

Open an account even if you do not own a phone or have a formal ID

ACCESS TO LOANS

Get access to group loans and build credit history for future personal loans

Use Case

This is Gifty. She is 32 and lives in Accra, Ghana. She cooks banana chips for a small shop nearby. She has four kids and is struggling to pay tuition. 

Gifty has discovered that she can buy an electrical cooker for 200 Cedi (60 USD). The cooker will allow her to make 10 times the amount of banana chips. 

As a financially underserved person not transacting digitally and with no fixed income, Gifty is not creating a credit history in any way. She therefore has no access to a loan.

Through using JamiiPay, Gifty can mobilise her community to start saving and loaning with each other today whilst also building her credit history for personal loans.

With access to loans Gifty becomes increasingly financially mobile. She can invest in her business which allows for her to generate a stable income and reduce the risk of falling into poverty.

The JamiiPay Team

The Roadmap

Aug 2018

Ideation

Acceptance to incubator program. 2nd runner up for Finclusion competion
Sep 2018

Concepting

Establishing ApS. Applying for Innobooster. Customer Research Ghana.
Oct 2018

Prototyping

Customer research Uganda (Jumbe) / Ethiopia & Kenya. Prototyping. Raising soft-money.
Nov 2018

Testing

Testing prototype in Ghana. Raising seed capital.
Feb 2019

Seed

Closing seed round.
Mar 2019

MVP

Minimum Viable Product ready for testing.
Apr 2019

Test

Test of Minimum Viable Product in Ghana & Ethiopia.
Sep 2019

Series A

Closing financing round.

Contact

Want to find out more about JamiiPay and its mission? Contact us!

JamiiPay ApS Applebys Pl. 7 Copenhagen 1411 Denmark
+45 3033 6601

info@jamii-pay.com

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