Democratic Republic of Congo - Startup under 3 years old

Describe your project or startup in a few words

Tuma Inc. is a Congolese-American company addressing the lack of payment options in Africa. We turn smartphones into secure payment terminals, enabling easy card and digital payments. Our partnership with UBA in 20 countries helps small businesses grow.

01.01 Describe your startup in more detail

Tuma Inc., is a softPOS (“Software Payment Operating System”) company addressing the lack of payment infrastructure in Africa. Our solution turns any smartphone and feature phone into a secure, contactless payment terminal. Tuma combines Tap on Phone, QR, Pay by Link, Click to Pay, Mobile Money, Billers, and Branchless Banking, making it easy for businesses to accept payments. We partner with UBA Bank across 20 African countries, providing an extensive agency network that ensures our solution is accessible and scalable. Our technology helps channel partners, small and micro merchants, restaurants, bars, clubs, and e-commerce platforms grow their businesses by modernising their payment systems, integrating physical and digital acceptance channels, and quickly reaching the market.

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

Tuma Inc. is addressing the critical issue of limited payment infrastructure in Africa, which restricts small and micro merchants from accessing affordable and secure digital payment systems. The reliance on cash transactions not only exposes businesses to security risks but also limits their growth and scalability. Traditional POS systems are often prohibitively expensive and complex for smaller enterprises, creating barriers to financial inclusion. Additionally, the lack of integration of various payment methods, such as mobile money and digital wallets, further exacerbates the problem. Tuma’s solution aims to bridge this gap by providing a cost-effective, hardware-free softPOS technology that enables merchants to accept card and digital payments via smartphones, thereby promoting financial inclusion and economic growth across the continent.

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

1. Accessibility and Affordability: Transforms any smartphone or feature phone into a secure, contactless payment terminal, eliminating the need for expensive hardware, making digital payments accessible for small and micro merchants. 2. Versatility and Comprehensive Payment Solutions: Combines various payment methods, including Tap on Phone, QR, Pay by Link, Click to Pay, Mobile Money, Billers, and Branchless Banking, catering to diverse customer preferences and enhancing transaction efficiency. 3. Scalability and Strategic Partnerships: Strategic partnerships, particularly with UBA Bank across 20 African countries, ensure extensive reach and scalability, facilitating rapid deployment and market penetration.

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

1. Small and Micro Merchants: These businesses, often operating in cash-dominated environments, benefit from affordable and accessible digital payment solutions, enabling them to accept card and mobile payments securely. 2. Unbanked and Underbanked Populations: By providing a secure and easy way to engage in digital transactions, Tuma promotes financial inclusion, helping these individuals access financial services and improve their economic standing. 3. Community-Based Enterprises: Small retail shops, market vendors, and local service providers gain from improved transaction efficiency and customer reach. 4. E-commerce and Delivery Services: Businesses involved in online sales and delivery services benefit from versatile payment options, enhancing customer convenience and business growth. Through these targeted efforts, Tuma aims to drive financial inclusion, economic growth, and business modernization across diverse markets in Africa.

01.05 When was your company established?

2022-02-09

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

3

01.08 Among the other owners, how many are female?

1

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

Elijah Lubala (CEO): Elijah leads Tuma with deep market insights and strategic foresight. With a background in financial technology and extensive experience in developing and deploying digital payment solutions, he drives Tuma’s mission of financial inclusion and economic empowerment across Africa. Wesley Masinde (CCO): Wesley excels in customer acquisition and brand development. His expertise in marketing and digital communication ensures that Tuma’s solutions reach and resonate with small and micro merchants, driving adoption and growth. Mpilo Makae (CTO): Mpilo oversees the technological advancements at Tuma. His extensive experience in software development and IT infrastructure ensures the delivery of secure, scalable, and innovative payment solutions. Mpilo’s leadership in tech development is crucial for Tuma’s continuous improvement and adaptability. Penelope Gobingca (CMO): Penelope brings her experience from top marketing firms to enhance Tuma’s market reach.

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

https://www.tumatap.com

01.11 Which industry best describes your project?

g) Financial services

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

Tuma’s softPOS technology empowers small and micro merchants by providing them with access to affordable digital payment solutions, which helps increase their income and economic stability. By enabling secure and efficient transactions, Tuma reduces the dependency on cash and improves the financial inclusion of underserved communities, directly contributing to poverty alleviation.

02.02.01 My startup contributes to the Zero hunger goal

1 - Strongly Disagree

02.02.02 Zero hunger - Justification for my startup

While Tuma Inc. primarily focuses on providing digital payment solutions to enhance financial inclusion and support small and micro merchants, it does not directly address the Zero Hunger goal. Our core mission is to improve access to financial services, which indirectly contributes to economic stability and growth for businesses. However, the impact on hunger, food security, nutrition, and sustainable agriculture is not within the direct scope of our startup’s operations. We acknowledge the importance of the Zero Hunger goal and believe that financial inclusion can create a more stable economic environment, potentially supporting broader initiatives aimed at ending hunger and promoting sustainable agriculture.

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

1 - Strongly Disagree

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

Tuma Inc.‘s primary focus is on providing digital payment solutions to enhance financial inclusion and support small and micro merchants. While our technology promotes economic growth and stability, it does not directly address the goal of ensuring healthy lives and promoting well-being for all at all ages. Our core operations do not involve health services, healthcare infrastructure, or wellness programs. However, by empowering businesses and contributing to economic stability, we create an environment where individuals and communities may have better access to resources that support health and well-being indirectly. Nevertheless, the direct impact on health and well-being is outside the primary scope of our startup’s objectives and activities.

02.04.01 My startup contributes to the Quality education goal

1 - Strongly Disagree

02.04.02 Quality education - Justification for my startup

Tuma Inc.’s primary mission is to enhance financial inclusion and support small and micro merchants through digital payment solutions. Our core operations do not directly address educational services, infrastructure, or programs aimed at ensuring inclusive and equitable quality education or promoting lifelong learning opportunities for all. While the economic empowerment facilitated by our services can indirectly support educational opportunities by improving financial stability and enabling families to invest in education, our startup does not have a direct impact on the Quality Education goal. We recognize the importance of this goal and believe that financial stability can create a more supportive environment for educational initiatives, but it is not within the direct scope of our business activities.

02.05.01 My startup contributes to the Gender equality goal

6

02.05.02 Gender equality - Justification for my startup

Tuma Inc. is committed to promoting gender equality and empowering women and girls through our operations and initiatives. Our digital payment solutions are designed to be accessible and affordable, enabling female entrepreneurs and small business owners to participate in the digital economy. By providing these tools, we help women-led businesses thrive, promoting economic empowerment and independence. 1. Inclusive Financial Services: Our softPOS technology enables women who own small and micro businesses to accept digital payments, reducing their reliance on cash transactions and increasing their financial security. 2. Training and Support: We offer training programs specifically targeting female entrepreneurs, helping them adopt and maximize the benefits of our technology. 3. Employment Opportunities: Tuma Inc. actively promotes gender diversity within our workforce, ensuring that women have equal opportunities for employment and career advancement.

02.06.01 My startup contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification for my startup

Tuma Inc.’s primary mission is to enhance financial inclusion and support small and micro merchants through digital payment solutions. Our operations do not directly address issues related to the availability and sustainable management of water and sanitation. While our focus is on financial technology and empowering businesses through accessible payment systems, we recognize the importance of clean water and sanitation but it falls outside the direct scope of our business activities. Our contributions are more aligned with economic growth, financial inclusion, and gender equality, rather than environmental and sanitation initiatives.

02.07.01 My startup contributes to the Affordable and clean energy goal

5

02.07.02 Affordable and clean energy - Justification for my startup

Tuma Inc.’s core mission is to enhance financial inclusion and support small and micro merchants through digital payment solutions. However, we contribute to the Affordable and Clean Energy goal through our strategic partnership with SolarFi, which provides clean, renewable energy solutions. SolarFi offers solar-powered lanterns with built-in WiFi, ensuring that communities without reliable electricity can access both light and internet services. This integration helps reduce dependency on non-renewable energy sources and promotes sustainable energy usage. 1. Renewable Energy Solutions: SolarFi’s solar-powered lanterns offer a sustainable alternative to traditional energy sources, providing affordable and reliable electricity to underserved communities. 2. Empowering Small Merchants: The combination of Tuma’s payment solutions and SolarFi’s clean energy products enables small merchants to operate more effectively and sustainably. 3. Economic and Environment Impact:

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

Tuma promotes economic growth by enhancing the payment infrastructure for small and micro merchants, enabling them to scale their businesses. By providing tools for digital payments, Tuma facilitates increased sales and customer reach, thereby creating more job opportunities and contributing to economic development. Our focus on financial inclusion supports sustainable economic growth and employment.

02.09.01 My startup contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification for my startup

Tuma’s innovative softPOS technology strengthens financial infrastructure by making digital payment solutions accessible to a wider range of businesses. Our efforts in developing cutting-edge financial technology contribute to the modernization of industry practices and support sustainable industrial growth. By leveraging advanced technologies such as AI and blockchain, Tuma fosters innovation and enhances infrastructure.

02.10.01 My startup contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification for my startup

Tuma’s mission to democratize access to digital payments directly addresses economic inequalities. By providing affordable payment solutions to small and micro merchants, Tuma promotes financial inclusion and empowers marginalized communities. This reduces economic disparities and ensures that more individuals and businesses have the opportunity to participate in the digital economy.

02.11.01 My startup contributes to the Sustainable cities and communities goal

6

02.11.02 Sustainable cities and communities - Justification for my startup

Tuma Inc. contributes to the goal of making cities and human settlements inclusive, safe, resilient, and sustainable by promoting financial inclusion and economic empowerment for small and micro merchants. Our digital payment solutions enable these businesses to thrive, thereby fostering economic stability and resilience within communities. By providing secure and accessible payment systems, we help reduce reliance on cash transactions, which enhances safety and security. 1. Economic Empowerment: By equipping small and micro merchants with digital payment solutions, Tuma enables them to expand their businesses, increase their income, and contribute to the local economy. This economic growth helps build more resilient and sustainable communities. 2. Financial Inclusion: Tuma’s technology ensures that underserved populations, including women and marginalized groups, have access to financial services. This inclusivity promotes social equity and strengthens community bonds.

02.12.01 My startup contributes to the Responsible consumption and production goal

6

02.12.02 Responsible consumption and production - Justification for my startup

Tuma Inc. supports sustainable consumption and production patterns by promoting digital payment solutions that reduce the need for physical resources associated with traditional cash-based transactions. Our approach encourages efficient resource use and aligns with circular economy principles. 1. Reduction of Physical Waste: By enabling digital transactions, Tuma reduces the need for printed receipts, cash handling, and other physical materials, minimizing waste and promoting more sustainable business practices. 2. Efficient Resource Utilization: Our softPOS technology leverages existing smartphones and feature phones, maximizing the use of current devices rather than requiring new hardware. This reduces electronic waste and supports a circular economy by extending the lifecycle of existing technology. 3. Promoting Sustainable Business Practices: We encourage merchants to adopt digital tools that streamline operations and reduce reliance on physical resources.

02.13.01 My startup contributes to the Climate action goal

6

02.13.02 Climate action - Justification for my startup

Tuma Inc. contributes to climate action through initiatives that reduce environmental impact and promote sustainability. By providing digital payment solutions, we help decrease the reliance on paper and physical resources, thus lowering our carbon footprint. 1. Reduction in Paper Usage: By promoting digital transactions, we minimize the need for paper receipts and cash handling, reducing deforestation and carbon emissions associated with paper production. 2. Energy Efficiency: Our partnership with SolarFi promotes the use of solar-powered devices, reducing reliance on non-renewable energy sources. This helps lower greenhouse gas emissions and supports the transition to clean energy. 3. Sustainable Operations: We adopt energy-efficient practices in our offices and encourage remote work to reduce commuting-related emissions. Our logistics are optimized to minimize the carbon footprint.

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

Tuma Inc.’s primary mission is to enhance financial inclusion and support small and micro merchants through digital payment solutions. Our operations do not directly impact the conservation and sustainable use of oceans, seas, and marine resources. While our focus is on financial technology and empowering businesses through accessible payment systems, we recognize the importance of this goal, but it falls outside the direct scope of our business activities. Our contributions are more aligned with economic growth, financial inclusion, and gender equality, rather than marine conservation initiatives.

02.15.01 My startup contributes to the Life on land goal

5

02.15.02 Life on land - Justification for my startup

Tuma Inc. supports sustainable use of terrestrial ecosystems through initiatives that reduce environmental impact and promote resource efficiency. 1. Reduction of Paper Waste: By promoting digital transactions, we minimize the need for paper receipts and cash handling, helping reduce deforestation and the environmental impact of paper production. 2. Promoting Renewable Energy: Our partnership with SolarFi encourages the use of solar-powered devices, reducing reliance on non-renewable energy sources and supporting sustainable land use. 3. Corporate Sustainability Practices: We implement sustainable practices within our operations, such as reducing energy consumption and promoting recycling, which contribute to environmental conservation. Through these efforts, Tuma Inc. indirectly supports the protection and sustainable use of terrestrial ecosystems, aligning with the goal of promoting sustainable land use and combating land degradation.

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

6

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

Tuma Inc. promotes inclusive and accountable business practices that support the development of strong institutions and contribute to social stability. 1. Financial Inclusion: By providing accessible digital payment solutions, we empower small and micro merchants, promoting economic stability and reducing inequalities. This supports social cohesion and peace. 2. Transparent Operations: We adhere to transparent business practices and ethical standards, ensuring accountability and trustworthiness. This fosters a culture of integrity and strengthens institutional frameworks. 3. Partnerships with Local Institutions: Our collaborations with local banks and financial institutions enhance their capacity to serve the community, contributing to stronger, more effective institutions. Through these initiatives, Tuma Inc. supports the goal of promoting peaceful, just, and inclusive societies, contributing to sustainable development and the strengthening of institutional frameworks.

02.17.01 My startup contributes to the Partnerships for the goal

7 - Strongly Agree

02.17.02 Partnerships for the goal - Justification for my startup

Tuma’s strategic partnerships, particularly with UBA Bank across 20 African countries, exemplify our commitment to building strong collaborations to achieve sustainable development goals. These partnerships enhance our ability to scale operations, improve financial inclusion, and drive economic growth. By working with local and international stakeholders, Tuma contributes to the global effort to achieve the SDGs.

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.

7 - Strongly Agree

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

6

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

6

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.

4

06.08 Justification for my startup

New Technology: Our solution converts smartphones into secure payment terminals using advanced features such as AI-driven fraud detection and blockchain for transaction security. This leverages the latest technological advancements to offer a novel payment solution. Improvement and Extension: While digital payment solutions exist, Tuma improves on these by making them more accessible and affordable for small and micro merchants, who typically lack access to such technology. This extends the benefits of digital payments to a wider audience. Addressing Unmet Needs: The core innovation of Tuma lies in addressing the critical gap in financial inclusion. By providing a simple, cost-effective way for merchants to accept digital payments, we meet a demand that has been underserved by traditional POS systems. New Version: Tuma can be seen as a new version of traditional payment terminals, adapted to the needs of developing markets through the use of ubiquitous mobile technology and innovativ

06.09 Competitive Analysis

Our main competitors include Yoco, Revel Systems, Wizzit, and Synthesis. These companies provide digital payment solutions but differ significantly from Tuma in several ways: 1. Yoco: Focuses on small businesses but primarily operates in South Africa. Tuma, on the other hand, has a broader reach across 20 African countries through strategic partnerships like UBA Bank, ensuring extensive scalability. • Website: yoco.com 2. Revel Systems: Offers comprehensive POS systems but targets larger businesses. Tuma’s softPOS technology is specifically designed for small and micro merchants, making it more accessible and affordable. • Website: revelsystems.com

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

1. Organizing workshops and training sessions specifically aimed at empowering women entrepreneurs. 2. Partnering with local organizations to provide mentorship and networking opportunities for female entrepreneurs. 3. Advocating for policies that support female entrepreneurship within the community.