Nigeria - Startup under 3 years old

Describe your project or startup in a few words

Faretabs is a web app that helps POS business owners manage and protect their POS outlets remotely when they are not around, reducing stress for POS business owners. They can now save time, energy and cost eliminating the need for manual work.

01.01 Describe your startup in more detail

Faretabs is a record keeping app that is built to assist POS attendants keep records and give POS owners peace of mind while they are not at their POS outlets. Our product will be used from the beginning of workday at any POS outlet to 1. Check in the POS attendant with location verification 2. Record all transaction at the outlet 3. Record customer’s details including photo capture 4. Send instant notifications to the owner’s email on each transaction carried out 5. Generate daily, monthly or yearly reports of all transactions 6. Collate and display trends, commissions and more from all operating terminals on one dashboard 7. Checking out of POS attendant after the day’s work. The web app offers combined notification and reports from different terminals and service providers, all in one dashboard and in real-time saves managers the stress of digging through different machines and alerts to confirm work done daily and the honesty of attendants.

01.02 What is the main problem you are trying to solve?

We help eliminate the struggle of monitoring multiple outlets, managing attendants, and ensuring accurate transaction records.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

1. Our solution offers a comprehensive real-time dashboard that consolidates data on transactions across all outlets and terminals. 2. Our web app also tracks attendance, helping the POS business owner know the whereabout of his attendance when he is not at the business location. 3. It also helps POS outlet owners reduce fraudulent activities at their outlets with an enhanced customer data capturing feature that helps them keep record of who they are transacting with and keep fraudsters at bare.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

POS business owners with multiple outlets and terminals

01.05 When was your company established?

2022-06-29

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

2

01.08 Among the other owners, how many are female?

0

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

On the team, we currently have: 1. Emmanuel Ekpo, a financial expert in the banking and finance sector for over a decade. 2. Sachiel Kemmer, a full stack web developer heading the development team with over 5 years’ experience. 3. Edimek Peter, a brand strategist and marketing expert heading the branding and marketing team with over 5 years’ experience.

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://faretabs.com

01.11 Which industry best describes your project?

h) IT (digital services, equipment and software)

02.01.01 My startup contributes to the No poverty goal

2

02.01.02 No poverty - Justification for my startup

02.02.01 My startup contributes to the Zero hunger goal

3

02.02.02 Zero hunger - Justification for my startup

02.03.01 My startup contributes to the Good health and well-being goal

7 - Strongly Agree

02.03.02 Good health and well-being - Justification for my startup

Faretabs is a record keeping app that is built to assist POS attendants keep records and give POS owners peace of mind while they are not at their POS outlets. Our target market are POS owners who desire to reduce the risk and stress of managing their outlets reducing the challenges associated with POS attendant’s unfaithfulness and fraudulent customers.

02.04.01 My startup contributes to the Quality education goal

3

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

3

02.05.02 Gender equality - Justification for my startup

02.06.01 My startup contributes to the Clean water and sanitation goal

3

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

4

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

6

02.08.02 Decent work and economic growth - Justification for my startup

Our app is designed to make work less stressful and reduce the risk of losing money to fraudulent activities at each POS outlet.

02.09.01 My startup contributes to the Industry innovation and infrastructure

6

02.09.02 Industry innovation and infrastructure - Justification for my startup

Our app takes outlet monitoring to another level by pioneering a solution that targets a niche that seems to be abandoned offering geolocation and advanced audit simplification features

02.10.01 My startup contributes to the Reduced inequalities goal

3

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

3

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

3

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

4

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

1 - Strongly Disagree

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

2

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

2

02.17.02 Partnerships for the goal - Justification for my startup

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

2

06.02 The product/service represents an entirely new type of product/service.

6

06.03 The product/service could be described as a new technology.

6

06.04 The product/service is an improvement on an existing product or service.

4

06.05 The product/service could be described as an extension of a range of products or services.

4

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

06.07 The product/service is a new version of an old product/service.

1 - Strongly Disagree

06.08 Justification for my startup

We have indirect competition in the likes of POS terminal and service providers, most of them are doing their best to provide solutions in audit and outlet management. But we stand out as unique because we address problems in which they cannot. As a terminal provider, collating transactions from a competitors' terminal is difficult. And we solve this problem efficiently since we are neutral. We go above this to also reduce and check attendant's unfaithfulness using other features that makes it easy for POS business owners to sleep with their two eyes closed.

06.09 Competitive Analysis

Main Potential Competitors: MoniePoint VPay Baxi OPay What Makes Faretabs Stand Out: Outlet Monitoring: Real-Time Dashboard: Comprehensive monitoring of multiple outlets simultaneously. Centralized Features: Attendance tracking and transaction collation in one platform. Efficiency: Automates processes, reducing monitoring time by 50%, boosting productivity and revenue. Audit Simplification: Streamlined Processes: Collates, reports, and prints detailed transaction data over any historical period. Automation: Eliminates manual reconciliation and record-keeping, cutting audit time by 70%, improving accuracy and saving costs.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?

Not at the moment