Settlo

Rewarding your employees will go a long way. Settlo believes in teamplay and focused goals from everyone, from top to bottom. Rewards will push us to exceed our targets and increase our loyalty towards the company. it's give and take. Who doesn't want to recognised, appreciated and even rewarded for their hardwork and efforts. Samira, our very own versatile, dedicated, and open minded, who joined us as an intern and went on to take a full time option while still studying, this shows her willingness to conquer the two opposing ends. Today we celebrate her success in the sales challenge and rightfully awarded for her courage and determination 💪 Many thanks to our team leader Sarikie C. A. and everyone at Settlo

Digitalization of SMEs has its very own special challenges especially in new frontiers like Tanzania, to successfully bring these business we need more than a cool App and fancy slogans, we need a serious investment in the infrastructure to deliver the benefit, while keeping in mind the cost to acquire and onboard them. One unique challenge is the cost of hardwares - here for a moment let’s forget about pharmacies, minisupermarkets, Bars and restaurants, who to begin with they must invest millions to get started. We are talking about the rest of Small businesses such as cosmetics, clothing, food businesses and service based. Settlo has managed to drive awareness when it comes to the importance of keeping your records clean, what’s next? We need to find a way to lower the cost of hardwares, it has proven to be a barrier to entry for many. Last week Cici Tung from Telpo VIOT visited our offices to discuss such partnership, focusing on entry level hardwares for the smallest of businesses to begin their digitization journey. We also had a chance to test and review their extensive hardware collection, we believe such partnerships will help us crack the ceiling to the brighter side of things. They also visited some of our customers to drive home the size of the market and realities on the ground, so when they go back home, they will have a knowledge of what’s needs to be done. #smallbusinesses #smartsmes #hardwares

It’s amazing seeing our team growing from 2 to almost 17, This team is filled with talent, passion and expertise in their respective domains. There nothing cool that trusting your team to drive our company to the next level, and by the way, if you know any Full Stack Developer, please tell them we are looking for one ☝️- there so much to build and we can’t wait to have them in our growing team.

Settlo bags TZS 75,000,000/= Funguo Tanzania grant funding to accelerate SMEs digitization ☀️🎉 After 800 applications 300 selected startups And 17 winners 🏅 We are indebted to deliver our promise! We will focus on women-owned businesses in our device financing program, so more and more SMEs get to keep their records clean. Special thanks to United Nations Capital Development Fund (UNCDF), UNDP Funguo Tanzania and the Government of Tanzania 🇹🇿 for this incredible initiative.

So, what does it take to Digitilize SMEs? A an App with cool features? Nice try. There is more to be done. I’ve met people who dismissed any chance to explore potential financial investment with Settlo due to “Asset Heavy” model. They pointed us towards MSMEs, who according to them simply needed a smart phone, Uber style. They gracefully forgot about simple and crucial term called LTV. Sustainable and profitable businesses are built on repeated customers and those who will stay with you over a long period of time. So we had to pick our battle, define our core customer base and go for it. We chose the difficult route. We chose to invest in them. That’s why we settled for an “Asset Heavy” model, one that requires more than just a cool software. SMEs in Africa have little access to technologies due to the cost associated with acquiring the right business management solutions. Hence, hardware BNPL for SMEs to accelerate uptake and to ease cashflow burden on them. And that model proved to be a success, for every business that took up the option, the retention rate is 99%. If companies like Square and Toast operating in developed economies like the US do offer device payment plans, Tanzania needs 50x more investments in that area. While we are creating and developing SMEs solution for all, we also focus on sustainable growth, Long Term Customer Value and creating multiple revenue channels. #digitizesmes #settlo #digitalpayments #smefinancialplatform #smecredit

So where are Settlo users? Tanzania, our stronghold, they are mainly found in major cities. Kenya, we have seen a few new accounts from our neighbors, how do they pay us, by card powered by Selcom Tanzania UK, US, and China contribute a fair share of our bandwidth, they are Tanzanians living abroad investing in retail and Food businesses back home. This gives us hope and reason to believe that Settlo can be a Pan-African SME Platform, borders aren't barriers but opportunities. Through partnership we will conquer territories beyond the horizon, past the sunset, it is up to us to dream, create, and solve real problems. This image below was captured from Settlo's Google Analytics!! #digitizingsme #sme #diapora