Crowdbux is a credit builder and credit marketplace, helping individuals build credit capacity, match comparable interest rates from lenders in 3 mins, and providing high quality borrowers to lenders.
Current Status
We have launched a waitlist campaign and have waitlisted 1700 individuals and businesses in 3 weeks spending only $50 per week. We are processing a state money lender's license to allow us launch beta version in-line with extant laws. We have signed a SLA with ProvidusBank to provide 3rd party wallets for our users and also deploy Automated Direct Debit/Central Mandate Management System (ADD/SMMS) unto our Crowdbux software. We are launching a targeted vendor acquisition campaign to acquire regulated vendors and onboard them.
Problem or Opportunity
Poorly developed last-mile financial service (particularly microfinance) infrastructure for a diverse cross-section of African needs
Complex software that feeds exclusion and further fragments access of the poor and vulnerable to microfinance opportunities
Solution (product or service)
Dexter is a research-based software startup leveraging data and insights from well curated user experience research to design and build more powerful and inclusive fintech software. We are currently focused on building powerful software for the emerging markets, and targeting the credit industry.
Our flagship product - Crowdbux - is a credit builder and credit marketplace for matching credit-worthy borrowers to pre-qualified rates from various lenders in just 3 minutes. The software features a loan matching feature, comprehensive user-curated credit scoring and cheap money transfers.
Business model
For the software we build for clients - corporates, MSMEs, individuals etc., depending on the scale of the project, we would take 1-3% equity share of the company.
For our flagship product -Crowdbux - the loan matching and credit building services are free, however we would charge vendors - lenders, MFBs, credit institutions - a tiered commission between 0.2% and 3.5% based on the volume of transactions. We would sell ad spaces in the platform on a subscription basis from $24.99 weekly to vendors; and also sell our debt recovery functions as a service to lenders for $9.99 per month.
