L-PESA - financial technology platform providing new financial tools to consumers and small businesses in Africa and Asia.
WHAT IS L-PESA?
L-Pesa Microfinance is a fintech startup poised to take advantage of the fast-growing need for financial services in the developing world. The company has validated its operating model over the past 24 months and has built sophisticated technology, automating most of the operation. Its primary barrier to growth at this point is its ability to fund user acquisition and loans. The loss ratio on loans runs below 10% while return on loans is approximately 25%.
L-Pesa creates blockchain-based, smart contract loans enabling people across the internet to grow their businesses and become thriving entrepreneurs. Hopeful visionaries can take loans in Ether or Bitcoin and then participate in L-Pesa’s curated marketplace facilitating peer-to-peer lending: the first crypto loan service in Africa.
L-Pesa’s technology stack is built on top of Amazon Web Services, an extremely scalable on-demand cloud computing platform which has been or is used by major brands such as Netflix, Airbnb, Pinterest, and Spotify. L-Pesa has integrated a number of third party applications to perform tasks such as SMS messaging, user verification, and marketing. Funds transfers are handled via integrations with mobile money service providers such as M-Pesa, Airtel Money, Tigo Pesa, and MTN.
VISION
Our vision is to improve people's lives through efficient access to credit and related financial services. North America, Western Europe, and a few other parts of the world have seen enormous increases in the standard of living over the past two hundred years. Using the simplest measure of standard of living, the Gross Domestic Product (GDP), enormous increases can be seen in what we now refer to as the developed world. For example, from 1820 to 1998, GDP (adjusted for inflation) in the U.S. increased by a factor of 21.7. Western Europe saw increases ranging from a factor of 11 for the United Kingdom to a factor of 23.5 for Finland. Although the increase in national wealth has not been equally distributed, it is clear that the increases in the standard of living for everyone has been enormous.
MARKET PROBLEMS
Microfinance has a long history around the world and for centuries has filled an important need. In fact, various forms of microfinance had a major impact on economic development in Western Europe in the 18th and 19th centuries. In the past 50 years, microfinance has started making an impact in Asia and Africa through organizations like Grameen Bank.
However, traditional microfinance has limited reach, and solutions have been targeted towards poor farmers and small business owners. Middle class consumers and business owners in developing countries have an unmet demand for credit, but the current financial infrastructure in these countries
does not support credit underwriting. The market today displays a number of problems:
- Underwriting
- Lack of bank credit
- Microfinance targets agriculture only
- Outdated operating models
- Microfinance targets the poor only
- Most consumers are unbanked
THE L-PESA SOLUTION
The idea for L-Pesa was incubated for a decade, and the business was
launched at the time four important market forces converged to allow for
rapid scaling:
- Big Data, Artificial Intelligence, and Blockchain
- Alternative Credit Data
- Mobile Technology
- Biometric Identity
TOKEN LAUNCH SUMMARY
Token name: KRIPTON
Token ticker: LPK
Token owner: L-P Kripton ltd., Suite 2B, 143 Main Street, Gibraltar
GX111AA.
Company Number: 116865
REID Number: GICO.116865-49
Token type: Ethereum ERC20
Total tokens issued: Maximum total of 2,600,000,000. Final number of
tokens created will be calculated according to final amount of contributions.
The final number will be published by the end of the ICO.
Mining: There shall be no mining or other means to increase the token
amount, save a second ICO in the future.
Pre-sale
17
days-start March 18, 15:00
GMT, Bonus 50%, Price 0.04, Min ETH Contribution 0.5, Token Allocation 160,000,000
Public sale
30 days-start April 18,
15:00 GMT, Bonus 0%, Price 0.04, Min ETH Contribution 0.25, Token Allocation 1,350,000,000
TOKEN DISTRIBUTION
Token price: 1 ETH = 17,500
LPK Token lock up period: Until end of ICO.
Token activation: One day after the finish of the ICO
TOKEN SALE TIMELINE
Pre-sale starts March 18, 2018 / 15:00 GMT
ICO starts April 10, 2018 / 15:00 GMT
ICO ends May 10, 2018.
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