Luca

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.

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Bulleted Version:

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

The Basics

Due Dilligence

WHAT WE LIKE

POTENTIAL RISKS

  • 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.

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Founder Profile

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

Comps

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