Araka

smile, you are safe!

About Araka

In Africa, whenever you ask an Uber, bolt, or other ride hailing platform driver about their work, they almost always complain of two main issues: the HIGH commissions and HIGH cost of credit for work tool financing or consumption, leaving them with little to no savings. This HIGH commission and HIGH cost of credit to digital drivers is the problem Araka is solving.

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Problem statement

The HIGH commissions and HIGH cost of credit for work tool financing or consumption, leaving digital drivers with little to no savings.

Traction information

Metrics we achieved with the first $66K funding todate (including owner funds)

1) 2,880 drivers.
2) $720 in LTR.
3) Waiting list of driver groups for digital credit and electric vehicle asset financing.
4) Partnerships with suppliers.
5) Technology live in web, ios and android
6) 3,750 users
7) 562 trips
8) 93 loan transactions
9) Ready team
10) Obtained hire purchase license

Product video

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Milestones

December 2022

Overall Traction

Metrics we achieved with the first $66K funding todate (including owner funds)

1) 2,880 drivers. 2) $720 in LTR. 3) Waiting list of driver groups for digital credit and electric vehicle asset financing. 4) Partnerships with suppliers. 5) Technology live in web, ios and android 6) 3,750 users 7) 562 trips 8) 93 loan transactions 9) Ready team 10) Obtained hire purchase license

Updates

Profile created.
Added about 1 year ago

Pitch deck

Funding

Not raising capital right now

Total raised to date:$30,000