Taja

"Square Register" for Africa
Startup name
Taja
Web address
Founding date
October 2014
Incorporation
Yes
Total team member
3
Startup stage
Paying users
Category
Enterprise, Software
Sector
Financial & payment services, Mobile, Enterprise software
Product usage or interact
Desktop, Mobile/Tablet (Android)
City
Lagos, Lagos, NG

Elevator pitch

Over 80% of the SMEs in Nigeria use no POS to record their sales. This is no surprise considering the <10% PC penetration in the market. Also the cost of running a POS system in an environment where power and internet are scarce is pretty high. Taja solves this problem by proving a POS solution with works on their smart phone (battery powered, so low dependence on power & >50% market penetration)

Team

Olabode Adedoyin

As an undergraduate in Nigeria, I interned with a digital media and mobile advertising company where I had the rare opportuity of building custom mobile solutions and leading integrations with Banks, Telcos and major FMCGs in Nigeria. I was also tech team lead for a major payments company in Nigeria

Oluwasolafunmi Oyegbile

Graduate of software engineering, while as an undergraduate worked in various accounting and auditing firms. Also ran a car hire business

Business model

Target customer

Cafes, Boutiques, Retaurants, Fast foods, Lundry services, ETC

Customer acquisition strategy

Vendor model (Works best), SME networks, Online channels (instagram)

Revenue model

$13 - $20 Monthly subscription fee,
Payments (Future) - Current yearly GMV is over $2M

Market info

Market size

$ 2,500,000,000

Competitors

Competition

Interswitch Retail Pay:
Provided by big retail company, not making a lot of market inroads
Vend
Use by some players in the market. Ipad based but the most popular device in Nigeria is android

KPI's

  • 500 Registered Stores
  • 100 Active Stores
  • 3 Organisations

Startup traction

As part of survival strategy we chose to go after sizeable players in the market first who had peculiar use cases that our software could solve. This is because we know we where facing an uphill task trying to build this without raising money. So we went after organisations who could pay a premium while we continued to develop the product to mass market level. All the traction listed has been purely organic

Publication date: 27 September 2017