PITCH

DECK

© Copyright 2021
Hello
We are CrowdForce. Building Africa’s
Largest Financial Services Distribution
Network .

x CrowdForce is helping Businesses, Governments, and Non-profits scale

to the next billion underserved population. We provide a data analytics
platform and thousands of field collectors to empower decision makers
with insights straight from the communities. We used this data ourselves
to build financial services products that truly tackle financial inclusion
and can turn any merchant in Africa to a bank branch within minutes.

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 Africa, especially Nigeria, has all the
components needed to achieve real financial
inclusion.

Cash Transactions Smartphone Penetration Financial Inclusion Internet Penetration Fintech Investment
(Banked)

95%+ 95% 2% 44% <19% 43% <1% 40% $182M $358M

2000 2020 2000 2020 2000 2020 2000 2020 2014 2020
~1% ~32% ~24% ~39% ~97%

95%+ 66% <0% 50% <5% 49% <1% 47% $50M $135M
2000 2020 2000 2020 2000 2020 2000 2020 2014 2020
~31% ~49% ~44% ~50% ~170%

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And an endless number of service providers
in Nigeria alone willing to take up the
challenge.

Commercial Banks

Licensed Mobile
Money Companies Microfinance Banks

Licensed Agent
Banking Companies FinTechs

12 21 24 976 200+ 4
Yet…

Of retail transactions in Africa

are still conducted in Cash.
Why?

Simply put, while the market opportunity is huge, the existing providers are
not tackling the real issues around cash.

The incumbents are stuck in their ways and the challengers are trying to use
technology to change behavior which takes time.

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Instead, we should be using technology to improve
access to cash and build trust which will eventually
change behavior.

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 Improve Access % of the adult population that are
financially “served”

63.2%

Physical Access

In Nigeria there are 4.8 bank branches and 19 ATMs per Number of Deployed POS
Terminals Per 100,000 adults
100,000 adults, less than the world average of 13 bank
branches and 40 ATMs. This means that less than 1/3 of
Nigerian adults have access to a bank branch or ATM within one
kilometer of where they live.
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Percentage of MSMEs with

access to loans

33%
EFInA 2018 survey report 8
World Bank (2018)
 Improve Access PAYMENT

35.4M 45.5M
Unique Accounts that Unique customers that
carried out Instant received funds via instant
Payment payment

SAVINGS

Product Access
33% 38.3%
Even for the banked, access to products like loans, investment
Save with Family/Friends Save with Bank
instruments, and insurance are limited to a select few.

LOAN

77.7% 4.3%
Accessed Loans from Accessed Loans
Family/Friends from a Bank

POS

656M 4.7T
POS Transactions POS Transactions
Count Value

EFInA 2018 survey report 9

World Bank (2018)
Build Trust
Service downtime

13% - 15%
Failure rate of card
transactions on POS

Network Issues

0.7%
Failure rate of NIBBS Instant
payments service

Transparency

13%
Use Fintech due to lack of
trust in Banks
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According to EFINA (2018), 63.2 million of the 99.6 million adults in Nigeria are financially included, but we
would argue that given these service gaps, everyone in Nigeria is Underserved.

Financially Served Financially Excluded

Only 48.6% of Adults are Banked
and have access to financial services
from deposit money banks.
14.6% of Adults are underbanked 36.8% of Adults are unbanked
who have bank accounts but rely on and have zero access to financial
other formal financial service services.
providers like MFBs and Money
Lending & informal service providers
like savings and thrift co-operatives.

1.1 Billion $22 Billion

Underserved in Africa Africa Market
$20
Per customer yearly

100 Million $2.0 Billion

Underserved in Nigeria Nigeria Market

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 The Rise of the Challenger Banks
Rising to the Challenge
Offline & Online Play
We believe that for any bank in Africa to be truly successful, it
must have both an offline and online presence.
The Colonial Banks ~10%

1 (1892-1929) Financial Inclusion Rate We spent years putting boots on ground and technology in
the cloud to provide a robust and enriching financial services
The Colonial Banks essentially operated to fulfil the experience through our agent network and digital platforms
financial objectives of the Colonial Government. They to serve those in our communities.
offered limited financial services to Nigerians, particularly
restricting access to credit facilities.

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The Nationalist Banks emerged to expand offerings of
financial services to Nigerian Business owners. They ~25%
The Indigenous/Nationalist
Banks offered limited financial products which were all offline. 58%
Financial Inclusion Rate
(1929-1988) However, the drive for inclusion focused on upper class The Challenger Banks
Financial Inclusion Rate
which created discontent within the larger populace. (2018-Till date)
The New Age Banks
(1988-2018) The Challenger Banks capitalized on the growth in the adoption of
3 smartphones and internet penetration to provide largely digital
The New Age Banks serve a wider demographic of Nigerians
banking solutions. They leveraged technological infrastructure to
although size and regulatory complexities limit their agility. Their
serve Nigerians who were excluded by earlier banking models and
54% financial service offerings are a mix of offline and online solutions.
provide alternative online solutions to underserved populations.
They are also participants in the financial inclusion drive through
Financial Inclusion Rate
their growing play on digital solutions e.g., USSD, Mobile Apps.

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 Our Approach

Listen to Users Build Products & Services Build Trust to

Through our PayForce and
MobileForms platforms, we
have amassed insightful
customer data from over 7
Million merchants and end
customers in the past 3+ years.
based on their real needs
For today, that means building
simple products centered around
cash like offering withdrawals and
transfers with merchants in the
communities that the users live.
Change Behavior
We have service provider backups and
layer an intelligent switching system
on them to minimize downtime and
increase reliability. We’re also
acquiring a bank license to eliminate
bottlenecks caused by the legacy
systems banks use.

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Our Solutions
Withdrawal

Fund Transfer

Leveraging on our Data Insight

Our Service Offerings
• Retail Audit
from MobileForms, we developed
customer demanded products
under PayForce to cater for the
mass market.

• KYC Audit
OUR Bills Payment
PRODUCTS
• Enumeration/Survey

+
Sign up now
Savings

Agent Loan
MOBILE FORMS PAYFORCE

Data and Analytics platform that Through PayForce, users can make payments easily anywhere in the country and Business owners can launch their
empowers decision makers with business on the PayForce network and start earning extra income and accepting payments from anywhere. Existing Products
real time, actionable intelligence
gotten directly from real
Pipeline Products
Backed with the right data, we have been able to successfully deploy offline financial solutions to meet the needs of
individuals living in the communities with limited access to financial services. Through our strategically stationed agent network, users can
communities they want to serve. perform basic financial services like transfers, payments, withdrawal, and deposits.

+ +
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One-off fee Monthly subscription Transaction Fees Interest Fee
 Since productizing our market insight, our
traction tells the story
Revenue ($‘000)
898.87

494.53

>20,000
11M
417.26
279%1

Number of 1.46 4.19 Total transactions volume

Registered Agents 2016 2017 2018 2019 2020 processed to date

$506M 431%1
50 Million+ 1-3 Hrs.
Total transaction value Data Points Collected Customer Service Response Time
processed to date from 7m+ customers

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1 This represents the Year-on-Year growth of Transaction Volume and Value Processed i.e., 2020 v 2019
 Our Product Roadmap

01 02 03 04 05
Agent App for > PayForce > Developer API for > Digital banking > Pipeline products.
MobileForms payment App Fintechs App for consumers i.e., Savings and
Lending

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 Our Distribution Channels

19,000 20,000 6,000

Fuel Stations¹ Aggregators/Resellers Pharmacies

¹ This represents approximately 70% of all Fuel Stations in Nigeria. An average busy fuel station makes N11M from fuel sales in a week, resulting in a potential $47 Billion Dollar GMV market size annually for all Gas Stations in Nigeria

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 We Are Fundraising To Drive The Next
Phase Of Growth

$11 Billion
Transaction Value
74%
CAGR
70K
Revenue POS terminals
58.50
($millions) deployed

33.35 488
Million
Transaction
Volume
16.03
100K
Number of
8.23 Active Agents

3.621

2021 2022 2023 2024 2025

18 1 We recorded over $419K in revenue in Q1 2021 which is a YoY revenue growth of 109% compared to Q1 2020
Over the next five years
 Championed by our high-performance team

Oluwatomi Ayorinde Damilola Ayorinde

(Co-Founder & CEO) (Co-Founder & COO)

Led a team that built BankOne - the most >10 years project management experience in 4
successful banking software for Microfinance banks countries across 3 continents
in Nigeria

Customer Success Associates Agent Acquisition Officers Product and Growth Manager
+59
Team
~15 ~20 1 Members

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 So, partner with us to achieve real financial inclusion.

$3.5M
14% 26% 26% 34% Total Fundraise

$2.5M $1M
Product Expansion Technology Cost Working Capital Business Optimization
Equity Debt

ROI: 39.6% Post Money Safe Valuation Cap: $25M 20

CrowdForce is Building
Africa’s Largest Financial
Services Distribution Network.
 THANK
YOU!

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