We provide a platform that allows merchants to invoice on the fly and get paid, thus turning their business online with minimum setup.
Launched on the first week of October 2020
Our intention is to capture as many merchants as possible from our key segments, which are SMEs, Consultants, Private Practitioners, and Mass Billers. Our modules however can work with many more segments, including grocery stores and restaurants.
The global market is switching to e-invoicing. 550 billion invoices are shared every year, out of which 10% only are e-invoices. This number will almost quadruple to 220 billion invoices, which opens the need for new invoicing and billing platforms to handle this demand. Governments are making e-invoicing mandatory to reduce tax evasion, and similar objectives are slowly being implemented in the GCC. Customer acquisition strategy to be disclosed to concerned parties.
Problem or Opportunity
Fawter.com both creates value and solves problems: Fawter.com enables merchants (freelancers, consultants SMEs and enterprises) to shift to electronic invoicing and optimize financial operations. Fawter.com contributes to the new government goals to switch to e-invoicing to reduce tax fraud. Fawter.com runs from any device after a one-time profile setup.
Solution (product or service)
Fawter delivers powerful invoicing modules with basic accounting, and can integrate with most payment gateways. Fawter can be setup and run in minutes, and runs from any internet enabled device.
a) Payment gateways may include simplified invoicing modules. b) Similarly, full-fledged online accounting platforms incorporate complex invoicing modules. c) Platforms similar to Fawter have just started to emerge in the MENA region, notably from Egypt which is backing the Fintech industry with significant funds.
Advantages or differentiators
The power of Fawter.com is to simplify setup, bill on the go from any device (including snapping a picture to bill), and the flexibility to integrate with most payment gateways, thus providing merchants with a simple tool to stay on top of their business finances.
Fawter differentiate itself with its offering allowing quick and frictionless onboarding of new merchants, attractive fees, support for multiple local payment methods. Fawter is tailored for market segments that are currently unaddressed including Freelancers, SMEs, Shops and other businesses with dedicated billing tools to optimize sales operations and issuing of invoices.
The major revenue stream consists of the platform usage by the merchants and the modules they use. Our prices are strategically competitive.
It is also possible to lease our platform on white label basis, for private entities and organizations.
Money will be spent on
Marketing: Create a noise and go viral. Operations: slight increase to the operations team. Development: increase to the development team and customize modules per market segment.