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Monday, February 21, 2011

ID Welcomes SlimTrader

Invested Development is excited about the latest addition to our portfolio:  SlimTrader.
by: Miguel Granier

For many Africans, having to walk for hours then stand on a crowded street corner and hope that they can push their way onto a bus is all too common. Worse still is when that bus is held up by gunmen for the cash the driver holds from ticket sales. Luckily, many Africans already have the technology they need to make both a thing of the past.

SlimTrader (aka Mobishara) seeks to relieve the burdens associated with everyday transactions in developing countries through Africa’s first mobile e-commerce platform. The company’s software allows consumers to purchase services or shop for goods (like bus tickets) on their mobile phones via SMS or mobile web.

Despite the obvious benefits to consumers, e-commerce has been relatively limited in Africa because of the cost of incorporating the platforms and low internet penetration rates. SlimTrader solves both problems by offering companies an affordable, scalable platform that is SMS enabled for the 300+ million Africans who own mobile phones.

SlimTrader is the brainchild of Founder & CEO Femi Akinde, who experienced the difficulty of completing everyday transactions while growing up in Africa.  He holds an MBA from the University of Chicago Booth School of Business and has over 12 years of work experience in telecommunications and technology development, including senior positions with T-Mobile and Microsoft.

Invested Development recently completed a seed-stage investment in SlimTrader through our BSP Fund.  We are excited to have them join our portfolio and ready to be active partners in their development. Visit the BSP Fund page to see more portfolio highlights and check out other posts on mobile technology

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