Senegalese startup Nixacom is providing financing for tech products in collaboration with banks.
Nixacom is a financing company that makes tech products like smartphones, tablets, and laptops accessible to individuals and businesses.
The company has been highly successful without any investments or revenue, with over 3,400 customers signing up organically. Nixacom plans to expand to other West African countries and Bangladesh in the coming years.
Once it starts generating revenue, Nixacom will earn through profit margins on products sold, a three percent origination fee for approved customers, and referral fees from co-branded debit card accounts with partner banks.
Founded in 2023, one of Nixacom’s co-founders, CEO Cheikh Gueye, said the following to Disrupt Africa:
“A customer logs onto our website and picks which product they are looking for, fills out a KYC, and once we receive all the information, we see which of our partner institutions they are eligible with and get them financed directly through us, and get them their product.”
“Current alternatives, like mobile carriers with rigid service-linked financing, fall short of addressing this need. Our payroll-deduction model, partnered with banks, makes us unique in the market.”
“Our scalable platform and established banking partnerships will enable us to grow into these markets seamlessly.”
“The biggest challenges have been navigating regulatory frameworks, establishing trust with banks and corporations, and ensuring our platform is user-friendly for a diverse customer base. Despite these hurdles, we’ve built strong partnerships and are well-positioned to succeed.”