Progress records
0
Stage of your startup
Paying users
When did you start
December 2018
City
Bursa, Turkey
Definition in 1 sentence
Smart online payment platform, powered by AI.
Elevator pitch
Fatora and invoicing and e-payment platform that helps small and medium-size businesses collect their payments with one click, and Manage the invoices schedule in the MENA region.
Are you incorporated?
Yes
Category
Enterprise, Software
Sector
Financial & payment services, E-commerce & online marketplaces
How do customers use or interact with your product?
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android), API
Product Demo Video Adress
Video Password
Other Documents
Image gallery
Why do you want to attend this program?
finding exposure, embracing the community, start in Turkey
Create Date
Tuesday, December 31, 2019 10:38 (Waleed Alyafie)

Business model

Describe the problem you are solving
SMBs is niche market that faces several challenges, and getting there payments is major one, when SMBs want to get their money from there clients they go with the longing process of calling, sending letters and waste alot of time of following up and organizing the full process.
How are your customers solving that problem today?
Normally, our potential customers trying to solve their problem using bank services along with extra hard work and many limitation thery are complaining about
Target custormers - Define customers, who are they
B2B, B2B2C
How do you plan to acquire customers?
Acquire customers and grow By applying Growth Hacking technique
What is your revenue model or expected revenue model?
We have three main revenue stream as a business model:
- Monthly subscription, starting from 49$ per/month
- 1% On each successful transaction.
- Integration and enterprise service (on-Demand)

Market info

What is your target market?
In the Middle-East.we are targeting 2 million Company,Startups, Home Business, and Freelancers.
Which there are more than 85%
Don’t use online payment service for their
business & online presence.
Our plan to acquire 30% Market share target that we aim to acquire from the MENA market in next 4 years.
What is your total available market size
$ 3,000,000
What steps have you taken to validate the market?
Getting real clients to pay for the service they needed, after our first 100 customers, we started to craft and modify the solution based on their preferences and feedback.
Do you have competitors? Please write down the names
Competitor name
Competitor website
invoice.2go
Competition: write down competitors and explain
Who are your competitors and how are you different?
What makes us better than other competitors is we have combined the best services (requested by merchants), from many competitors and merge them into one good solution that works exactly like what is needed by MENA customers
Traction / KPIs
Title
Value
Merchants
4,300
Amount processed
15,000,000
Invoices paid
11,300
What progress have you made in the last six months?
Helped 4550+ Customers (corporate) collection more than 7 million$ processed into our system
More than 14000+ invoice has been paid.
Earned more than 150k as a revenue
Made 13 partnership with major organization in qatar( QDB, MOTC, NAMAA)
hire 16 team members
Release 3 major versions.
How many customers/users do you currently have?
4500+
What is your monthly growth rate?
40% MOM
Describe traction

Finance

How much runway do you have left(Month)?
My startup is profitable
How is equity divided?
Equity type
Name surname
Email
Equity
Founder
Me
% 35
Founder
Saleh
% 35
Angel Investor
Qdb
% 20
Angel Investor
500 Startup
% 5
Employee stock option
Employees
% 5
How much money raised since start?
$ 300,000
Revenue lifetime
$ 165,000
Last months revenue
$ 13,000
Investment round
Bridge round
Target fund to raise
$ 700,000
Equity on offer
% 20
Number of employees
18
Other info Write bullet points (Grants, prizes, acceleration)
Add more comments

Team

Owner member
Yes
Member role
Founder
Name surname
Waleed Alyafie
Title
Founder & CTO
Education
Master's Degree
School name
Qatar
Birthdate
01 January 1995
City
Bursa, Turkey
Short Bio
MBA, MCSD, ITIL, CSSP certified, Fintech expert with more than 15y of product making experience.