We are an online payment aggregator andf ecommerce platform for SMEs
Current Status
We have more than $10 million in tyransactions and more than 300 B2B customers with 0% churn
Market
Ecommerce market in Azerbaijan is estimated at $6billion in 2023. Every business man who is selling or willing to sell online is our potential customer.
Problem or Opportunity
It is very hard to start selling online in our region. Bank bureaucracy and prices for online sales web site development are extremely high. Additional technical knowledge and a bunch of time is needed just to start accepting online payments
Solution (product or service)
We are an online payment aggregator and ecommerce platform for SMEs. We move offline sellers online within minutes. After a 3 minute online registration every seller can start accepting a wide range of online payments through our solution. All they need is a tax id and a bank card.
Competitors
On global market our top competitor is STRIPE and Paypal. Regarding the local market, there are two companies providing almost the same service as we do, but without so many features of our product.
Advantages or differentiators
Our brand awareness is very high and customers are happy to refer the other sellers to us. We are fast, secure and very flexible, thats why many startups inour region are willing to work with us. also we are well known in the Caucasus region due to our participation in many startup programs and events such as TAKE OFF 2022 (2nd place), ASTANA HUB BATTLE 2022 (semi finalists), MOST VC acceleration program in Almaty (ongoing) and 500 Globnal acceleration program and demo day
Finance
Till the end of 2023 we aim to double our revenue and the number of paying customers. Thy we expanded our sales team.
Business model
We apply a hybrid business model, transaction fees and subscription fees
Money will be spent on
Scaling to neigbouring countries (GEORGIA, UZBEKISTAN, KAZAKHSTAN)
Improving the product
Online payments matrket is expanding ennormously and the only scenario why our musinees would not work is a total rejection of online payments. We are basicaly STRIPE from and for Caucasus region. We can easily expand to any country.
Incubation/Acceleration programs accomplishment
500 Global acceleration program held in Tbilisi, Georgia in 2022-2023
Won the competition and other awards
TAKE OFF 2022 (2nd place)
ASTANA HUB BATTLE 2022 (semi finalists)