I am excited to introduce Duplo, a fintech startup backed by Ycombinator as part of the winter 2022 batch that is modernizing business-to-business payments for enterprises.
While growing up, I saw my grandmother, a major Nestle distributor in South-Western Nigeria, struggle with her payments from small retailers. Undoubtedly, she had a complex business model which was the case for many B2B businesses.
The entire payment system was plugged with:
It’s the year 2022 and these problems still persist in Nigeria and the entire African continent; B2B businesses are still dealing with common issues like; the dominance of manual invoices, payment taking place via bank check, and locked-up working capital cycle.
Paper-based and offline payment remains at the forefront of B2B business. Experts see this as one of the biggest predicaments that on one hand, is hampering continental economic growth and on the other hand, making B2B business models complex with longer payment cycles.
In this era of technological advancement in the fintech space, businesses deserve better channels for their payment.
The unfortunate truth about B2B is buying cycles are long. Hence, embracing digital channels will turn business payments from a throbbing pain to a revenue generator. Some other mentionable benefits are
Fortunately, many businesses have started to realize the benefits of digitized B2B payment solutions. However, there aren’t many trusted, client-friendly, and reliable solutions at the moment in Nigeria/Africa.
This inspired us to develop a comprehensive payment solution that will turbocharge the growth of many businesses on the continent. As a business, you would want to automate your payment inflows/outflows, add payments functionalities into your products/services and reconcile at scale.
This is where Duplo comes in!
Irrespective of your business domain i.e., distributors, B2B, wholesalers, retailers, or franchises Duplo can help you with;
The global B2B payments market size was valued at $870.42 billion in 2023 and is projected to reach $1.91 trillion by 2028. It is expected that B2B payments in Africa will grow at that same rate. There is a huge opportunity to bring greater efficiency and add more value for businesses via this new and improved B2B payment solution.
We are here to build more billion-dollar business success stories and hopefully, we will remain at the forefront of this for decades to come.
Thank you to our earliest supporters.
And if you think our mission matches perfectly with your business, we would love to hear from you. Feel free to reach out and we would be happy to help.
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Discover what Duplo can do for your business.
Get ready to improve your payment processes.