FUNDINGUpdated 1 months ago

CDcare Nigeria SNBL

CDcare: Nigerian SNBL operator. Save 50%+, then receive item, pay balance. Sold USD 6M+ goods Feb 2022-Jan 2023. 10-15% gross margins, 0.4% default rate, no external debt.

English, French, Portuguese or Arabic, machine translated, with the original kept beside it.
Key Information
Organisation
CDcare
Location
Nigeria, Nigeria
Status
Open
Application Deadline
Rolling
Type
BNPL
Amount
NGN 5,000 to 1,000,000
Size
small
Language
English
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Description

CDcare is a Nigerian Save-Now-Buy-Later (SNBL) operator founded by Tobi Odukoya, participating in the ARM Labs Lagos Techstars program. Customers save weekly or monthly toward a target item, and once they have saved 50% or more of the purchase price, CDcare delivers the item and collects the balance. Over the 12-month period from February 2022 to January 2023, CDcare sold USD 6 million worth of goods at gross margins of 10 to 15% with a default rate of just 0.4% and no external debt raised. The SNBL model is structured for African economic reality where traditional BNPL economics struggle.

Focus Sectors

SNBL, Save Now Buy Later, Asset Finance, Appliances