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INDUSTRY: Business/Productivity tool
HQ: Lagos
FOUNDER: Kunle Odebunmi
23 May 2023

Setting the Scene

  • Imagine trying to run a business today with only a pen and paper. ๐Ÿ“

  • Small businesses in many parts of the world have access to numerous platforms to manage their transactions, employees, inventory, and more. ๐Ÿ“ฒ

  • In Africa, it's a different story.

    • In fact, 73% of small and medium-sized businesses in Nigeria rely on that pen and paper to track transactions.

  • Not only do businesses in Africa have limited digital solutions, but they also face inconsistent internet connection, disrupting their operations.

  • This weekโ€™s company provides bookkeeping software that enables African small businesses to track finances online and offline.

In a Sentence

Luca is a bookkeeping platform that enables small businesses in Africa to track finances offline.

  • Bookkeeping: Track income and expenses, log inventory, manage receipts and invoices, generate reports, and more.

  • Offline: Users can continue operating when they lose internet access.

Bulleted Version

  • Think of Luca as bookkeeping on Airplane Mode. โœˆ๏ธŽ

Due Diligence

  • ๐Ÿฆ Churn challenge: Eighty percent of micro, small, and medium businesses in Africa fail in five years, which may cause higher churn and a shorter customer lifetime.

  • ๐Ÿ Competition: Luca competes with several funded African startups and leading global accounting software companies trying to win market share.

  • ๐Ÿ“š Customer education: While Luca offers an easy-to-use product, the company must continually invest in customer education and support to help micro businesses transform their accounting operations from pen and paper.


Founder Profile

Kunle Odebunmi, CEO: Previously founded AllBase Energy and Arnergy Solar.


Why Luca

By offering an intuitive platform with offline access and indigenous language support, we are banking that Luca will help transform millions of African businesses. ๐Ÿฆ