South Africa - Startup under 3 years old

Décrivez votre projet en quelques mots

Tetafi is an AI-powered financial management platform that helps informal businesses, startups and entrepreneurs manage daily transactions through a conversation.

01.01 Décrivez votre startup en détail

Tetafi is an innovative AI-powered financial management platform designed specifically for informal businesses, startups and entrepreneurs from townships. Operating through WhatsApp to App, Tetafi enables users to manage their daily transactions seamlessly through interactive conversations. Our platform provides personalized advice, financial insights and generates detailed financial reports, helping users maintain accurate financial records seamlessly. Tetafi also connects users with suitable lenders for loans, grants and Buy Now Pay Later (BNPL) options, facilitating access to financial support that is often challenging for informal businesses to secure. At Tetafi we encourage financial literacy by proving a gamified way of learning by proving exclusive discounts to suppliers for our users. Our goal is to empower informal businesses with the tools and knowledge they need to thrive and grow, ensuring financial stability and promoting economic development within their communities.

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

The main problem we aim to solve is the lack of financial records to access financial support for informal businesses and entrepreneurs. Many of these businesses struggle with maintaining accurate financial records because they don't know-how to use other platforms, find them complicated and expensive to maintain. This challenge often prevents them from securing necessary funding as financial records are often the requirement, which hampers their growth and sustainability. According to ResearchICT access to finance by the informal sector is actually at 0.2% which is close to nothing, proves that this is a major problem that informal businesses face. So by providing an AI-powered platform that integrates seamlessly with WhatsApp, will to help these businesses manage their finances, maintain accurate records, and connect with suitable lenders for loans, grants and Buy Now Pay Later (BNPL) options, this way addressing their financial needs.

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).

Tetafi offers interactive financial tools through conversational experiences, connecting businesses with suitable lenders and providing clear direction towards achieving financial goals. Firstly, we feature a high-performing AI chat interface that simplifies financial management. Secondly, we incorporate gamified learning, making financial literacy engaging and accessible. Thirdly, our automation capabilities streamlines daily financial tasks, reducing the manual effort required. Tetafi also provides personalized financial advice based on their spending habits and income, as well as a robust goal-setting features to help businesses stay on track with their financial goals. We focus specifically on micro and small businesses, ensuring they have the support they need to thrive. We also facilitate easy access to lenders, helping businesses secure the funding they need. Finally, we offer all these advanced features at an affordable price, with the minimum package from just R29.

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

Tetafi is specifically aimed at serving informal businesses, startups, and entrepreneurs, particularly those operating in townships and underserved communities, falling within the Living Standards Measure (LSM) 1-7. The targeted beneficiaries include micro and small business owners who are trading informally who often lack access to funding due to lack of financial track record and as well as the financial knowledge and technical know-how to manage their business finances. The targeted age group ranges from young adults to middle-aged individuals, roughly between 18 to 55 years old. This includes entrepreneurs, small business owners, and individuals actively involved in their daily business activities within the community. Our platform is designed to support individuals who do not have formal financial education, providing them with easy-to-use tools for managing daily transactions, accessing loans, and setting financial goals.

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

31/07/2023

01.06 Vendez-vous déjà votre produit/service ?

Non

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

1

01.08 Parmi les autres propriétaires, combien sont des femmes ?

0

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

I am an internal auditing graduate with experience in finance, sales, and entrepreneurship. As an accounting assistant, I gained insights into financial management and consultation. My role as a Sales Assistant at Storm Warning honed my skills in client relationship management and market analysis. Working with executives from companies like Siki Koffee Kafe and Plum Systems exposed me to strategic planning and high-level decision-making. I mentor student entrepreneurs at BIIC CPUT, reflecting my dedication to fostering entrepreneurship. In 2023, I completed the Tony Elumelu Entrepreneurship Program, securing $5000 in grant funding. As part of the UPG Biashara 2024 cohort, I engaged in collaborative learning and networking initiatives. I completed a Business Creativity Blended Learning Course by Philtech Business Academy, learning about creativity, innovation, and unique business models. I am proud to be a Top 10 Youth Start Entrepreneur in 2024, and YALI online cohort 2024.

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.canva.com/design/DAFzD7dkB7Y/K802Ry0XcGZsKn8Y3-4KAg/view?mode=prototype

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

Services financiers

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

Tetafi supports the Sustainable Development Goal on No Poverty by empowering small informal businesses and entrepreneurs from underserved communities that are in the Living Standards Measure (LSM) 1-7. It empowers these businesses to properly handle their financial issues by ensuring they can acquire adequate funding and increase their operations through appropriate lenders. In addition, they are able to attain financial stability, business growth, employment creation, improved income levels, and ultimately economic development. Tetafi reduces poverty by developing sustainable entrepreneurship and a higher level of economic resilience of entrepreneurs and small businesses in low-income settings.

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

7 - tout à fait d'accord

02.02.02 Justification de la contribution de ma startup

We contribute to Sustainable Development Goal "Zero Hunger" by supporting informal businesses and entrepreneurs from the townships and rural areas. Tetafi provides financial management tools and access to funding, which empowers these businesses to hire more people, currently employing 2.5 million, to ensure that low-income people can put food on the table for their families. With better financial stability and growth, the informal businesses and entrepreneurs can scale and be able to hire more within their communities. This would mean greater growth and affordability within the local community, assisting in the reduction of hunger and ensuring food security for more people.

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

2

02.03.02 Justification de la contribution de ma startup

Tetafi's main concern is financial inclusion and empowerment, hence, does not contribute directly to SDG 3. Good Health and Well-being, though the access to access to finance can have an indirect impact on the mental health of entrepreneurs and informal businesses for healthy living, Tetafi's initiatives do not directly address health challenges. With that being said, by providing avenues of financial opportunities and promoting financial empowerment, the overall well-being of an individual and community can be indirectly improved.

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

5

02.04.02 Justification de la contribution de ma startup

Tetafi works more on issues of financial inclusion and empowerment, rather than education. Though financial literacy and education are part of the Tetafi platform, access to financial resources for informal businesses and entrepreneurs is its core objective. Therefore, Tetafi's contribution to SDG 4, Quality Education, may be limited. However, through its financial education and literacy training to underserved communities who are largely having limited education, LMS 1-3—Tetafi will be able to improve financial literacy and foster lifelong learning opportunities.

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

4

02.05.02 Justification de la contribution de ma startup

Our initiatives and services are towards financial inclusion and economic empowerment of all people irrespective of gender. Although there are currently no specially targeted programs or initiatives on gender equality by Tetafi, the company's platform will be free to use for all users, hence catering also to women entrepreneurs and business owners; therefore, Tetafi will indirectly be contributing to the promotion of gender equality by equipping women with the tools and resources necessary to succeed in business and entrepreneurship.

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

1 - pas du tout d'accord

02.06.02 Justification de la contribution de ma startup

Tetafi is mainly focused on financial inclusion and empowerment rather than water and sanitation issues; hence, Tetafi does not contribute to improving access to clean water and sanitation. However, it does so indirectly by making it possible to empower startups, since through connection with the financial resources and income they need, those startups can invest in infrastructure and development projects that address water and sanitation challenges.

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

1 - pas du tout d'accord

02.07.02 Justification de la contribution de ma startup

Tetafi's doesn't have direct contribution to SDG 7 (Affordable and Clean Energy) as Tetafi's primary focus is on financial management and empowerment.

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

Tetafi's focus is ensuring financial inclusion and economic empowerment of informal businesses and entrepreneurs. Tetafi would contribute to creating decent work and foster economic growth within undeserved townships and rural communities by providing access to financial services, resources, and opportunities. Tetafi, through its platform, enables the creation of jobs, starting, managing, and growing of businesses, and contributing to economic development. By facilitating access to funding and financial management tools, Tetafi is empowering entrepreneurs to succeed in ventures and to build sustainable livelihoods for them and their communities.

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

7 - tout à fait d'accord

02.09.02 Justification de la contribution de ma startup

Tetafi contributes to SDG 9 by fostering innovation in financial technology with its approach of integrating a WhatsApp financial management chatbot and providing infrastructure by connecting informal businesses with suitable lenders and BNPL (Buy Now Pay Later) options for financial inclusion and accessibility. By leveraging existing technology and digital platforms, Tetafi makes financial services more accessible and affordable for informal businesses and entrepreneurs, particularly those in undeserved communities. By promoting new approaches to traditional financial industry, Tetafi contributes to fostering innovation in financial services and building resilient infrastructure, promoting inclusive and sustainable industrialization.

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

7 - tout à fait d'accord

02.10.02 Justification de la contribution de ma startup

Tetafi directly contribute to SDG 10 by promoting financial inclusion and reducing inequalities. By providing access to financial services and resources for informal businesses and entrepreneurs, Tetafi helps to level the playing field and create opportunities for marginalized individuals and communities. Through its platform, Tetafi enables individuals to access funding options, manage their finances effectively, and grow their businesses, regardless of their socioeconomic background or location. By democratizing access to financial services, Tetafi empowers underserved populations to participate in economic activities, build wealth, and improve their livelihoods, thereby reducing inequalities and promoting inclusive economic growth.

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

4

02.11.02 Justification de la contribution de ma startup

While Tetafi focuses on financial inclusion and empowerment, its operations contribute to SDG 11 in terms of economic development and community resiliency. By giving informal businesses and entrepreneurs access to financial services and resources, Tetafi strengthens local economies to bring about sustainable urbanization. It provides funding options and financial management tools for businesses to flourish and keep townships and rural communities vibrant and resilient. That is, by encouraging entrepreneurship and economic empowerment, Tetafi contributes to building sustainable cities and communities in which entrepreneurs and informal businesses can flourish and thrive.

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

1 - pas du tout d'accord

02.12.02 Justification de la contribution de ma startup

Tetafi's purpose and services are aligned with SDG 12 in an indirect way of encouraging responsible production practices amongst informal businesses and entrepreneurs. Through access to financial management tools and resources, Tetafi enables businesses to be more efficient, reduced wastage, and responsible use of their financial resources. Also, connecting and facilitating access to funding options and financial support, Tetafi puts businesses in a position to afford sustainable production methods and to transition from informal to accountable business practices. By using the Tetafi platform, businesses are called upon to act more responsibly and be accountable to the ideals that SDG 12 aims to achieve.

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

1 - pas du tout d'accord

02.13.02 Justification de la contribution de ma startup

While Tetafi is predominantly a financial inclusion and empowerment program, it contributes to SDG 13 indirectly in its role of fostering entrepreneurship and economic development to startups that in turn contribute to initiatives that may support climate action efforts. Tetafi makes financial services and resources more accessible. Financial support by making funding options and financial support easily accessible. Through the platform, Tetafi thus facilitates a culture of entrepreneurship and access to funding that may drive climate action and support the transition toward a low-carbon economy.

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

1 - pas du tout d'accord

02.14.02 Justification de la contribution de ma startup

Tetafi's vision does not have a direct contribution to SDG 14, as its concentration lies in financial inclusion and empowerment but not on marine conservation or biodiversity conservation efforts. However, by promoting economic empowerment and entrepreneurship, Tetafi supports the sustenance and economic well-being of people and communities that may depend on marine resources. So facilitating access to financial services and resources that entrepreneurs, informal businesses, and startups focus on primarily, it is about the conservation of sea life itself.

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

1 -pas du tout d'accord

02.15.02 Justification de la contribution de ma startup

The mission and vision of Tetafi do not directly add to SDG 15 as its focus is on financial inclusion and empowerment, but not exactly on land conservation or biodiversity conservation efforts. That's when the promotion of economic empowerment and entrepreneurship; Tetafi indirectly contributes to supporting the livelihoods of individuals and communities that can depend on terrestrial ecosystems for their sustenance and economic well-being. Therefore, by facilitation of access to financial services and resources to entrepreneurs and startups whose primary focus is to protect, restore, and promote life and land sustainability, Tetafi impacts indirectly.

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

1 - pas du tout d'accord

02.16.02 Justification de la contribution de ma startup

Tetafi's mission and services indirectly contribute to SDG 16 by promoting economic empowerment and social inclusion, which are essential components of peace, justice, and strong institutions. By providing access to financial services and resources, Tetafi helps to empower marginalized individuals and communities, reducing inequalities and fostering social cohesion.

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

7 - tout à fait d'accord

02.17.02 Justification de la contribution de ma startup

Tetafi's initiatives and services directly contribute to SDG 17 by fostering partnerships and collaboration between various stakeholders to achieve common goals. By providing a platform that connects informal businesses, entrepreneurs, financial institutions, and other stakeholders, Tetafi promotes collaboration and knowledge sharing, enabling stakeholders to work together to address shared challenges and achieve mutual objectives. So by facilitating access to financial services and resources, Tetafi strengthens partnerships between businesses and financial institutions, fostering economic growth and development. Through its platform, Tetafi promotes the principles of partnership and collaboration outlined in SDG 17, contributing to collective efforts to achieve the Sustainable Development Goals and create a more sustainable and inclusive future for all.

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

6

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

7 - Tout à fait d'accord

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

7 - Tout à fait d'accord

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

7 - Tout à fait d'accord

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

4

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

7 - Tout à fait d'accord

06.08 Justification

I agree that while there are existing products or services similar to ours, Tetafi represents a novel approach to financial management. Our platform utilizes AI-powered chat interfaces, with integration on WhatsApp, to offer interactive and personalized experiences for managing daily transactions, accessing loans, and receiving financial advice. By leveraging AI technology, Tetafi automates routine tasks, provides tailored recommendations, and gamifies financial literacy to engage users effectively. This innovative solution addresses the specific needs of informal businesses and entrepreneurs in underserved communities, offering a user-friendly and accessible platform that fills a gap in the market. Unlike traditional financial management tools, Tetafi combines convenience, personalization, and gamification to create a unique and impactful solution for our target audience giving them a clear direction towards their goals.

06.09 Analyse compétitive

Tetafi's main potential competitors in the fintech industry include Sage, Quickbooks, Xero, Zoho Books, SME Go which are direct competition. And since we are targeting informal businesses and entrepreneurs our indirect competition includes No Record Keeping, Counter Books, and traditional bookkeepers/accountants. However, Tetafi distinguishes itself through its unique selling points. Unlike its competitors, Tetafi offers interactive financial tools through conversational experiences, making financial management more accessible and engaging. With a focus on micro informal businesses, entrepreneurs and small businesses, Tetafi connects users with suitable lenders, providing personalized advice, goal setting features, and clear direction towards financial goals. This comprehensive approach sets Tetafi apart from its competitors, offering a tailored solution for the specific needs of the informal economy.

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

Yes, at Tetafi, we are committed to promoting the role of female entrepreneurs within our community. Some examples of actions we have initiated include organizing workshops and training sessions where we partnered with female entrepreneurs to introduce new entrepreneurs into the entrepreneurship space by owning a vending machine as a new form of making money. Also, we actively seek partnerships with organizations and initiatives that support female entrepreneurship, who can provide resources, mentorship, and networking opportunities to empower women in business. Through these efforts, we aim to create a more inclusive and supportive environment for female entrepreneurs to thrive and succeed.