Erick Oyugi
CEO
Malipo Circles LTD
This startup provides a payment platform designed for groups to manage shared finances. It enables users to send and receive money, make loans, and save together, offering features like instant cashouts and multiple administrators to facilitate collective financial management.
- Applications
- Enterprise Software
- Financial Technology
- Software Only
Updated 6 months ago
Funding
Funding rounds are not available yet.
Founders
Product
Problem
Managing finances within groups, such as investment clubs, alumni associations, or fundraising initiatives, often involves manual processes for collecting contributions, tracking balances, and ensuring regulatory compliance. These manual methods can be time-consuming, prone to errors, and lack transparency, leading to inefficiencies and potential disputes among members.
Solution
Malipo provides a platform designed to automate and streamline group financial management, offering tools for collecting member fees, managing event sales, and facilitating lending/borrowing circles. The platform enables groups to create circles for various purposes, such as investment clubs, fundraising, or shared expenses, with features for immediate contributions, loans, and cashouts. Malipo automates governance by enforcing rules and regulations for handling money in groups, while also enabling social commerce and experiences between group members to empower their economic activities. The platform integrates with mobile money, banks, and international debit/credit cards, providing multiple channels for topping up wallets and cashing out funds.
Target Audience
Malipo targets groups such as investment clubs (chamas), alumni associations, fundraising groups, and businesses that manage finances collectively, particularly in regions where mobile money is prevalent.
Features
- Circle creation for various group financial activities (investment clubs, fundraising, shared expenses, etc.)
- Automated collection of member fees and contributions
- Tools for managing event sales and payments
- Integration with M-Pesa, Airtel Money, Visa, Mastercard, and banks for easy fund transfers
- Wallet functionality for holding funds securely
- Multiple administrator setup with customizable authorization levels
- KYC (Know Your Customer) verification via integration with IPRS (Integrated Population Registration System)
- OTP (One-Time Password) verification for secure transactions
- Automated report generation for tracking payouts and balances