Susika Crowdlending Platform
WHAT WE DO:
Susika (from the Twi words Susu, meaning little by little, and Sika, meaning money) is a crowdlending platform which gives individual and institutional investors the opportunity to jointly lend money to pre-approved SMEs.
Individuals create an account on the platform, browse the company profiles and can pledge any amount of their choice to a company. Once the SME’s loan amount has been reached, the money will be provided to the SME, and once repaid will reflect back in the investor’s wallet (with interest) to be cashed out or reinvested.
This way, we help impactful SMEs grow faster.
Target groups
- SMEs looking for a short term (<1 year) loan between 5,000 and 100,000 USD
- Individuals, Financial Institutions, Angel Groups who are interested to lend between 5,000 and 100,000USD
OUR TEAM
Eugiene
Wouter
Richard Yeboah
Partners
Milestones
Finalised first design options and initial market validation
Secured mentorship from the African Angel Academy (AAA - sponsored by FMO)
Designed Due Diligence process and intake documents for SMEs
COMPLETED
A pilot with 3-10 SMEs and 25+ investors providing crowd loans totalling $200,000 or more to these portfolio companies (Q2 2024)
Partnering with a payment service provider for the international (re-)payments of the loans
Finalising study on legal and tax implications of (inter)national payments and adherence to the Ghana SEC guidelines as launched in November 2023
Engaging a guarantor for (part of) the loans (in the pilot)
PENDING
Launch of the company and platform open to all SMEs in Ghana
Expanding across Africa, also providing longer-term loans and crowd-equity
