Test the Waters
Patika (YC S22)

Patika (YC S22)

Simple Receivable Automation & Payments for Africa’s Small Businesses

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Security Type
Technology, Financial Services, Community & Lifestyle
Min Investment
Delaware City , Delaware

Key Deal Facts

Helping Africa's small businesses to collect the 35% of their revenue that is not paid upfront
Started charging 7 Weeks ago, $1,600 Monthly Revenue growing 52% MoM
1,200 Monthly Active Businesses, growing 41% monthly
$5B+ Market Opportunity
Team has scaled payment systems with $10M+ monthly GTV
$510K raised from Asymmetry Ventures, Goodwater Capital, True Culture Fund and angel investors

Management Team / Advisory Board Bios

Sidney Rema Co-Founder & CEOTrained as a Medical Doctor (Partly). 5 Years+ experience in building trans-national payment systems and in Banking - Extending credit to micro & small businesses in Kenya, Phelix Juma Co-Founder & CTO EE graduate from University of Nairobi with background in information systems, banking, payments integration and data science. Previously helped 3 companies build payments systems that processed $10M in monthly GTV across Kenya, Uganda and Nigeria.
Amount Raised : $519,080
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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