Motito operates an asset financing marketplace offering consumers flexible alternative payment solutions for essential purchases. The platform provides options like Buy Now, Pay Later, peer-to-peer financing through Pay4Me, and a 30-day price lock layaway service called KeepMyPrice. This service structure promotes affordability by enabling customers to acquire necessary goods using payment methods beyond immediate cash transactions.
Funding
$140K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals in Africa lack access to traditional credit and financing options, making it difficult to purchase essential goods and services. This limited access to credit hinders economic empowerment and restricts access to necessary items.
Solution
Motito provides an asset financing marketplace that offers alternative payment solutions, enabling customers to acquire essential items without immediate full payment. The platform provides options such as Buy Now, Pay Later (BNPL), peer-to-peer financing (Pay4Me), and a 30-day layaway program (KeepMyPrice). By offering transparent terms and a variety of payment methods, Motito aims to enhance financial inclusion and provide flexible purchasing options to a broader customer base.
Target Audience
The primary target audience is individuals in Africa who lack access to traditional banking and credit services and need flexible payment options to purchase essential goods.
Features
- Buy Now, Pay Later (BNPL) option allowing customers to receive items after a down payment and pay the remaining balance over time.
- Peer-to-peer financing (Pay4Me) enabling users to solicit financial support from family and friends.
- 30-day layaway program (KeepMyPrice) allowing customers to lock in the price of an item with a deposit and self-finance the purchase within 30 days.
- Mobile money payment integration (MTN Mobile Money, Vodafone Cash, Airtel Tigo Cash).
- Visa card payment processing.
- Mobile application for iOS and Android.