Formed in February by Isaac Sichangi and Evalyn Lwoba, DukaPos offers subscription-based access to its platform, which helps storekeepers with things like stock management, invoice generation, staff management, receipt generating, sales reports and mobile money integration.
“We observed that most small-scale business owners still rely on manual bookkeeping to manage their operations, and some do not keep records at all, which affects their business operations as they do not track the profits they are making,” Sichangi told Disrupt Africa.
“In addition, it prevents them from obtaining loans from formal financial institutions such as banks as they lack proper records. We also observed most small-scale business owners were not willing to invest in bulky PC-based point of sale systems in their premises as it costs too much for them.”
DukaPos has filled this gap, and already has 15 retail customers. Sichangi said it has received a lot of interest, primarily from gas retailers, hardware shops and clothing stores. So far, it operates out of five locations – Nairobi, Mombasa, Kisumu, Kakamega and Machakos – but does have plans to grow.
“We plan to expand to more locations within the country and hopefully within the larger East African region in 2021,” said Sichangi.
With this in mind, DukaPos is on the fundraising trail, seeking US$50,000 to help it scale. Thus far it has been funded by its own revenues, but Sichangi said it needs external investment to help it cover costs and expand.