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Wihom Software

Colombia
Market: Real estate
Stage of the project: Operating business

Date of last change: 23.04.2022
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Idea

Web platform that allows property managers and tenants to reconcile payments, invoice and collect rent in LATAM. We make life easier all communities with easy payments and self-service Whatsapp.

Current Status

Key milestones:
We’ve launched the Whatsapp solution to pay rent fees in Colombia and México.
US 50k revenue.
User rentals payment recurrence 91%
Transactions growth MoM 542%
We just closed a partnership with the 2nd largest bank in Colombia and the Accountability Software "Siigo" to make transactions fully online and collect rental payments.
Soon to launch: USA, Florida.

Problem or Opportunity

Through our Whatsapp api solution the rental property management companies and tenants can handle payments, send invoices and collect rent fees instead of dealing with manual or website payments. This is better than make trips to the bank and wait in line or writing checks to pay the rent fee because it can be pay using whatsapp, rental property managers have to send one to one invoice and verify every time charges and rent amount for each property.

Solution (product or service)

Wihom is automatic, tenants pay through a link generated by our WhatsApp that carries the rent balance information making payment conciliation much easier and faster for rental property management companies.
Our solution is much better than the current experience, tenants don't have to download an app, they just have to know how to use Whatsapp, 91% of our users pay again using our service.

Business model

We charge the property managers with a SaaS monthly fee per unit per month of 2 usd. Billed Annually*

We have 3000 units with the Whatsapp solution and therefore our revenue in February was 6000 usd.

We have indications that charging a transaction fee might be a better model. If we would do it today our revenue could grow 30%, with a cost 20% lower than current payment gateway offers.
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