As the global economy continues to evolve, businesses are constantly seeking innovative solutions to tackle the challenges posed by emerging markets. This is where Liridi comes in – a digital platform that provides purchase financing for micro-business owners and entrepreneurs in underbanked markets. Liridi is revolutionizing access to finance for small business owners in emerging economies, with a focus on Sub-Sahara Africa and South Asia.
What is Liridi?
Liridi is a Buy Now, Pay Later platform that connects local financial institutions, domestic merchants, and underbanked micro-business owners and entrepreneurs in emerging markets. The Liridi App provides micro-enterprises with goods and services whenever they need them, at a fair price, and with the option to pay later. Headquartered in London, the company’s first pilot market is Sri Lanka, where a local subsidiary company – Liridi Lanka – has been established, along with an active local core team that is highly experienced in the local micro-finance market.
Solving the Problem
Liridi is addressing a significant issue in emerging markets, where micro-business owners and entrepreneurs are often excluded from the financial system due to a lack of collateral and credit history. As a result, they are unable to access the goods and services they need to grow their businesses. Liridi is bridging this gap by providing an innovative solution that connects micro-business owners with local financial institutions and domestic merchants. The Liridi platform is built on a cloud-based infrastructure that enables micro-enterprises to access financing quickly and easily, without the need for collateral or extensive paperwork.
Market Potential
Liridi’s target segment is underbanked micro-business owners and entrepreneurs in emerging economies. The company’s strategic geographical focus is Sub-Sahara Africa and South Asia, with a pilot market in Sri Lanka. By 2025, Liridi plans to expand to 12 countries in the outlined region. The potential market for Liridi is enormous, with an estimated 2 billion adults worldwide lacking access to formal financial services.
Team and Technology
Liridi has a team of 11 people who are daily involved in company product development and management. The team comprises a Sri Lanka office director, five members involved in product development and overall company management, and a highly experienced IT development team with extensive experience in the FinTech sector. The IT development of the platform has been in progress since November 2019 with Liridi’s in-house development team. The company has developed a proprietary borrower’s KYC verification engine, a proprietary social and mobile-based scoring engine, a loan management system version 1, and a back-end infrastructure for data collection and storage.
Social Impact
At its core, Liridi is a company with a social mission. The team is passionate about providing emerging market entrepreneurs and micro-businesses with easy access to modern digital financial services at an affordable cost, enabling their sustainable growth. Liridi also recognizes the importance of delivering better digital and personal finance literacy to its target market. To this end, Liridi aims to put notable resources into designing and running financial health and digital education programs in association with local partners.
Investors’ Pitch Deck
Liridi is a startup that is poised for significant growth and impact in the emerging markets it serves. Investors interested in supporting the company’s mission can request a pitch deck and other supporting materials from the Liridi team.
Conclusion
Liridi is a company that is making a significant impact in the emerging markets it serves. Its innovative approach to financing micro-business owners and entrepreneurs is enabling these businesses to grow sustainably, contributing to economic development and poverty reduction in the region.
Website: https://www.liridi.com
Twitter: https://twitter.com/LiridiApp
Facebook: https://www.facebook.com/LiridiApp
LinkedIn: https://www.linkedin.com/company/liridi/
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