Deal Abstract

Invest in Asaak
Republic is a startup investing platform where you can invest as little as $10 in impactful startups

Uganda based startup is using financing for motorcycles as beachhead to build a credit score, loan origination platform, and eventually BEYOND.

Financials (VRB)

Question Notes
1. Fundraising Target? $250000
2. Fundraised So Far? $144746
3. Pre-Money Valuation? $10000000
4. Previous Year's Annual Revenue $166003
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-391364

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? False: Emeryville, CA
2. Has at least 2 founders? False: Two
3. Has product in the market? True: Generating revenue
4. 6 months of continuous user growth or 6 months of revenue? True: Grew from $126k to $166k
5. Notable investors? True: 500 Startups and Social Capital
6. Post-funding, will have 18 months of runway? False: Needs $600k, but only raised $250k

The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)

Question Score Notes
1. Engineering? 3 Yesss, building loan origination and digital finance for a market with large banking opps
2. Timing? 3 Mobile finance, good timing
3. Monopoly? 3 Strong revenue, and focusing really niche in motorcycle financing
4. People? 3 Team seems really strong with work experience and finance experience
5. Distribution? 3 Boots on the ground distributing to the lenders, this is a hard advantage to replicate
6. Durability? 3 Financial infrasturcture as a service
7. Secret? 3 Starting with motorcycles/mopeds to build an embedded financial credit platform to then become a loan origination and financing marketplace for Uganda and similar growth stage African markets

What has to go right for the startup to return money on investment:

1. Continue to keep high quality loan as scale; 2. Find other lucrative loans to make that compete against the finance thugs; 3. Make sure to keep good regulatory cooperation

What the Risks Are

1. What type of competition does Kiva

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