Kenya - Startup under 3 years old

Décrivez votre projet en quelques mots

VunaPay is a platform for Agricultural Cooperatives that facilitates instant payment to smallholder farmers for produce delivered to the cooperatives.

01.01 Décrivez votre startup en détail

VunaPay facilitates instant payment to smallholder farmers for produce delivered to the Agricultural Cooperative or other farmer collective. We work through agricultural cooperatives by offering them an end-to-end produce and farm inputs management solution. When farmers drop off produce at the cooperative, our system instantly calculates their qualified payout amount, less any credit extended. We onboard financial partners who then disburse the payout instantly through our platform, which is repaid by the cooperative once they sell the collected produce. We collect our fee at this stage. We do not provide loans, but accelerate payment for produce already delivered.

01.02 Quel est le problème principal que vous essayez de résoudre ?

Agriculture in Africa accounts for ~30% of the GDP. 80% of agriculture in Africa is under smallholder farms. However, according to the UNEP and IFAD, 1 billion of the world's poorest 1.4 Billion people that live on $1.25 a day are actually smallholder farmers. We dug into this and discovered that although 50% of smallholder farmers are registered in Agricultural Cooperatives, more than half of them sell to middlemen at 40-80% below market value. They do this because middlemen pay instantly, as opposed to their Cooperatives societies who pay them 3 to 6 months after delivering their produce. We are therefore solving the problem of delayed payments to these smallholder farmers selling through cooperatives and other farmer collectives.

01.03 Dites-nous quels sont les principaux avantages et/ou bénéfices de l'utilisation du produit/service fourni par votre startup (au moins 3).

VunaPay offers several key benefits that significantly enhance the financial ecosystem for smallholder farmers and agricultural cooperatives. Firstly, VunaPay ensures that farmers receive instant payments for their produce upon delivery to cooperatives. This immediate payout drastically improves the farmers' cash flow, enabling them to reinvest in their farms, cover essential living expenses, and avoid the financial strain caused by the traditional three to six-month payment delays. Secondly, VunaPay provides cooperatives with a comprehensive produce and farm inputs management solution. This system streamlines the cooperative's operations by instantly calculating payouts, accurately tracking credit extended to farmers, and efficiently managing the repayment process. As a result, cooperatives experience enhanced financial transparency and operational efficiency, reducing administrative burdens and minimizing errors. Thirdly, VunaPay bridges the gap between cooperatives and financial ins

01.04 Veuillez décrire précisément à qui s'adresse le produit/service de votre startup. Quels sont les bénéficiaires visés ?

VunaPay primarily benefits smallholder farmers within agricultural cooperatives in the operational geographies. However, specific quantitative and qualitative data on overall beneficiaries, such as the number of farmers or cooperatives engaged, are not provided. The platform aims to empower these farmers by addressing delayed payment challenges and improving transparency in agricultural transactions. The SMS receipts received by farmers upon delivering produce indicate an early positive impact on transparency and trust within the cooperative system. As VunaPay progresses, gathering comprehensive data on the number of beneficiaries, their experiences, and the broader impact on the agricultural sector will be crucial to fully assess the platform's effectiveness and reach.

01.05 Quand votre entreprise a-t-elle été créée ?

13/05/2023

01.06 Vendez-vous déjà votre produit/service ?

Oui

01.07 Combien y a-t-il de propriétaires de votre entreprise en plus de vous ?

2

01.08 Parmi les autres propriétaires, combien sont des femmes ?

1

01.09 Veuillez décrire le profil des autres propriétaires de votre startup (compétences, expérience, etc.).

VunaPay boasts a robust organizational structure with a team of seasoned founders who bring diverse expertise to the venture. Judy Njogu-Mokaya, the CEO, brings 5 years of experience in Innovation and Product Management at Safaricom, followed by 5 years in SaaS sales leadership across Africa at Oracle. She co-founded a startup valued at over $3 million and has a background in a family business in farming.Ian Wambai, the CTO, has 10 years of software development experience, including work with a payment service company and an agricultural project with Heifer International. He specializes in AI technology, product design, and has built 15 mobile applications.

01.10 Si vous avez un site web, une page sur les médias sociaux (Facebook, Instagram, Linkedin...) ou une application, veuillez fournir le(s) lien(s) ici :

https://www.vunapay.com/, https://www.linkedin.com/company/vunapay/, https://www.facebook.com/vunapay

01.11 Quel est le secteur d'activité qui décrit le mieux votre entreprise ?

Agriculture

02.01.01 Ma startup contribue à l'objectif 'Pas de pauvreté'

7 - tout à fait d'accord

02.01.02 Justification de la contribution de ma startup

VunaPay directly addresses poverty among smallholder farmers by providing instant payments for their produce. This immediate cash flow helps farmers meet their daily needs, invest in their farms, and avoid exploitative middlemen, thus contributing to reducing poverty in agricultural communities.

02.02.01 Ma startup contribue à l'objectif 'Faim Zéro'

6

02.02.02 Justification de la contribution de ma startup

By ensuring farmers have immediate funds, VunaPay enables them to invest in better seeds, fertilizers, and farming equipment, which can lead to increased agricultural productivity and food security. Additionally, stable income helps farmers maintain consistent food supply for their families.

02.03.01 Ma startup contribue à l'objectif 'Bonne Santé et Bien Être'

4

02.03.02 Justification de la contribution de ma startup

NA

02.04.01 Ma startup contribue à l'objectif 'Éducation de Qualité'

4

02.04.02 Justification de la contribution de ma startup

NA

02.05.01 Ma startup contribue à l'objectif 'Égalité entre les Sexes'

5

02.05.02 Justification de la contribution de ma startup

VunaPay's financial empowerment extends to female farmers, who make up a significant portion of the agricultural workforce in many regions. By providing immediate payments, VunaPay helps address the financial disparities and barriers that often disproportionately affect women in agriculture.

02.06.01 Ma startup contribue à l'objectif 'Eau Propre et Assainissement'

4

02.06.02 Justification de la contribution de ma startup

NA

02.07.01 Ma startup contribue à l'objectif 'Énergie Propre et Abordable'

3

02.07.02 Justification de la contribution de ma startup

NA

02.08.01 Ma startup contribue à l'objectif 'Travail Décent et Croissance Économique'

7 - tout à fait d'accord

02.08.02 Justification de la contribution de ma startup

VunaPay promotes economic growth by improving the financial stability of smallholder farmers, leading to increased productivity and investment in agriculture. The platform also supports cooperatives in managing their finances more effectively, contributing to sustainable economic practices and decent work conditions.

02.09.01 Ma startup contribue à l'objectif 'Industrie, Innovation et Infrastructure'

6

02.09.02 Justification de la contribution de ma startup

VunaPay leverages financial technology to provide innovative solutions for payment and farm management, enhancing the agricultural infrastructure. By integrating with financial institutions and cooperatives, VunaPay fosters an ecosystem that supports industrial innovation and improved agricultural processes.

02.10.01 Ma startup contribue à l'objectif 'Réduction des Inégalités'

6

02.10.02 Justification de la contribution de ma startup

By providing equitable access to financial resources and immediate payments, VunaPay helps reduce economic inequalities among smallholder farmers, particularly those in underserved rural areas. The platform ensures fair compensation for produce, leveling the playing field between smallholders and larger agricultural players.

02.11.01 Ma startup contribue à l'objectif 'Villes et Communautés Durables'

4

02.11.02 Justification de la contribution de ma startup

NA

02.12.01 Ma startup contribue à l'objectif 'Consommation et Production Responsables'

6

02.12.02 Justification de la contribution de ma startup

VunaPay's management system for cooperatives helps track and optimize resource use, promoting responsible production practices. Instant payments also encourage farmers to adopt sustainable farming methods as they are no longer forced to sell at lower prices for immediate cash.

02.13.01 Ma startup contribue à l'objectif 'Lutte contre les Changements Climatiques'

4

02.13.02 Justification de la contribution de ma startup

NA

02.14.01 Ma startup contribue à l'objectif 'Vie Sous-Marine'

3

02.14.02 Justification de la contribution de ma startup

NA

02.15.01 Ma startup contribue à l'objectif 'Vie Terrestre'

3

02.15.02 Justification de la contribution de ma startup

NA

02.16.01 Ma startup contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

3

02.16.02 Justification de la contribution de ma startup

NA

02.17.01 Ma startup contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

5

02.17.02 Justification de la contribution de ma startup

VunaPay exemplifies the power of partnerships by collaborating with financial institutions, cooperatives, and technology providers. These partnerships enhance the platform's ability to deliver financial solutions and support sustainable development goals, demonstrating the effectiveness of collaborative efforts in achieving SDGs.

06.01 Un grand nombre de clients utilisent déjà un produit/service très similaire au nôtre.

3

06.02 Notre produit/service représente un type de produit/service entièrement nouveau

6

06.03 Notre produit/service pourrait être décrit comme une nouvelle technologie

6

06.04 Notre produit/service est une amélioration d'un produit ou d'un service existant

6

06.05 Notre produit/service pourrait être décrit comme une extension d'une gamme de produits ou de services

6

06.06 Notre produit/service répond à une demande ou à un besoin qui n'a pas été satisfait par d'autres produits/services.

7 - Tout à fait d'accord

06.07 Notre produit/service est une nouvelle version d'un ancien produit/service

6

06.08 Justification

VunaPay is an innovative financial solution tailored to address the specific needs of smallholder farmers and cooperatives. While traditional financial services exist, our platform offers a unique combination of instant payments, farm management, and integration with financial partners, which is not commonly available. This service directly addresses the critical issue of delayed payments and provides a new technology-driven solution that significantly improves the economic stability of farmers and operational efficiency of cooperatives.

06.09 Analyse compétitive

Our main potential competitors include traditional microfinance institutions and informal middlemen who provide immediate payments to farmers. However, VunaPay stands out by offering a comprehensive digital solution that not only ensures instant payments but also integrates farm input management and financial tracking for cooperatives. Our partnerships with financial institutions enhance our ability to provide scalable and reliable services, setting us apart from competitors who may lack such comprehensive and integrated offerings.

11.05 Menez-vous des actions au sein de votre communauté pour promouvoir le rôle des femmes entrepreneurs ?

Organising workshops for female farmers, and providing mentorship to female entrepreneurs in the agricultural sector