Spottr is a next-gen retail platform that empowers consumers with real-time, trusted product discovery. By linking users with verified vendors and combating counterfeit goods, Spottr has a mission to create a safer, faster, and more reliable commerce experience across Africa.
Spottr Limited, a Retail business founded in 2020, currently generating $52,000 in revenue, is at the Seed stage and is seeking Debt, Equity funding of $200,000 to
Spottr is a next-gen retail platform that empowers consumers with real-time, trusted product discovery. By linking users with verified vendors and combating counterfeit goods, Spottr has a mission to create a safer, faster, and more reliable commerce experience across Africa.
Marketing: This marks Spottr GTM phase, during which funds will be allocated for sales and marketing. Some of Spottr marketing plans include deploying Google Ads, geo-fenced ads, and physical placements in locations such as airports, city entry and exit points, hotspots (malls, supermarkets), and co-executing experiential events that showcase and demonstrate what Spottr can do.
Operations: A portion of funds will be allocated to also support operational costs, including salaries and product development, to ensure long-term scalability and product enhancements
MVP Launch: Spottr launched its Minimum Viable Product (MVP) in 2020 and quickly gained traction.
Google Play Success : The Spottr app trended as #1 in its category on Google Play within 1 hour of launch, surpassing the MTN app for 2 days.
User Acquisition: Achieved over 1,000 organic installs in 5 days after the MVP launch.
Revenue Generation: Generated over $60,000 in total revenue since inception through subscriptions, ads, and early partnerships.
Partnerships: Signed key partnerships with Amore Gardens, Rave, and various SME incubators to expand its ecosystem.
App Store Recognition: Spottr's app reached the top of the App Store during the MVP launch, indicating an early product-market fit.
Growth Metrics: Successfully onboarded 5,000 users and saw early product-market fit, with 26 out of 100 users renewing subscriptions and 42% of users engaging with ads.
Ownership Structure:
Gerald Konwea, the founder of Spottr, holds 98% of the company's equity. The remaining 2% is held by two angels in the persons of Ayo Arikawe and Emmanuel Ireh.
Exit Strategy:
Spottr’s exit strategy is to pursue a Listing / IPO. As we scale and establish a stronger market presence, we plan to go public and offer investors an opportunity to realize returns through the Initial Public Offering (IPO). The anticipated timeline for this is 5-7 years, depending on market conditions and growth
Loan Terms:
Spottr is seeking a Term Loan with the following desired terms:
Interest Rate: Between 8% - 15%, depending on the lender.
Repayment Period: 12 to 24 months, starting after a 6-month moratorium.
Collateral: The loan may not be secured by physical assets, but we are open to personal guarantees or revenue-based repayment options as collateral.
Other Terms: Flexible prepayment options with no penalty
Loan Use:
Spottr is seeking a loan to cover operations. This will be allocated to customer acquisition, marketing, and scaling efforts to help drive growth and establish a stronger market presence
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