Overview of Business

PrepaidWealth.com is a FinTech platform that provides 80% of the margins made by retailers, on data bundles and airtime, back to the consumer as discounts or as accumulated cash. The platform also provides a way for a group of people to accumulate the margins together, while they are spending their data bundles and airtime discretely. This makes the platform powerful for passively fundraising without members of a group directly contributing money. Groups such as stokvels, schools, churches, residential complexes, work departments, friends, families, etc. can use the platform for fundraising purposes. We are currently running a schools campaign. To illustrate how schools can benefit from using this platform: If 350 teachers and parents in a particular school can create and join a group on the platform and consume an average of R150 on airtime/data bundles per month, they will raise R25 500 per year. Assuming that the margins/discounts average 5%.

Stage of Business
Industries Served
Financial and insurance activities
FinTech and InsureTech
Country / HQ
South Africa
Required areas of assistance
Accelerators and Incubators
Business Planning/Modelling
Market Research
Funding required