In Africa, there are 20 million motorcycles of which 90% are used for commercial purposes. The motorcycle taxi industry accounts for 90% of road transportation with approximate annual turnover of $100 billion.
However, almost 98% of the drivers earn 50% less than what they could earn because of inaccessible credit. Banks and MFIs do not lend to them because their transaction sizes are too small and they lack sufficient data to assess their credit risk.
We deploy technology at scale to assess a driver’s risk based on their social capital and alternative data. We then provide them with tailored financial services that enable them to operate a motorcycle for business.
We are currently participating in Antler's startup generation program. We are part of the first cohort of their inaugural program in Africa based in Nairobi, Kenya.
