Enter your email address below and subscribe to our newsletter

Collect Africa | Company profile, Business Model, and Operations

Recieved Funding?
yes
Type of Funding
Seed funding, Accelerator/Incubator
Number of Funding Phases
5
Business Type
Private Company

All you need to know about Collect Africa

With the advancement of technology, an increasing number of individuals are opting for digital payments and foregoing the use of cash. They prefer to support businesses that provide these payment options.

Many business owners are finding it challenging to accommodate the various digital payment preferences of their customers because of the increasing trend of diverse payment methods. This has led to difficulties in meeting the payment needs of different customers.

Since its launch in December 2021, Collect Africa has been working to address the payment gap that exists.

About Us

Founded by Abraham Ojes and Wale Martins, Collect Africa is a payment platform that consolidates all payment methods into a single dashboard. This allows business owners to accept payments through various sales channels and efficiently oversee and control their businesses.

Our focus is on making it easier and faster for African businesses to handle vendor payments and oversee supplier relationships.

Collect provides businesses with the capability to receive payments from their customers both online and offline, utilizing various payment methods, including bank transfers, QR codes, point-of-sale terminals, and payment links.

Leveraging payment processing as a starting point, our goal is to establish a network of financial solutions, including expense and inventory management tools, as well as access to capital, to assist merchants in effectively managing their operations.

f6s.com
  • Headquarters: Maryland Lagos, Nigeria
  • Year Founded: Dec, 2021
  • Employees: 11-50

Our Mission

Founded in 2021, Autospend's mission is to facilitate seamless payment collection for businesses across Africa. As we have evolved, our focus has expanded to include aiding businesses in streamlining vendor payments and effectively handling their financial responsibilities.

Our objective is to enable businesses to effectively manage their bills and cultivate strong supplier relationships.

The platform allows entrepreneurs to receive payments using various methods such as bank transfer, POS, and online channels, providing customers with the flexibility to pay in their preferred way and preventing any missed sales.

Businesses operating e-commerce stores can effortlessly integrate Collect into their platforms using a user-friendly API and minimal lines of code.

Our Core Values

Discover the next level of effortless payout management with Autospend's top features. From efficient accounts payable to robust security measures, we have all the tools you need to enhance your business processes.

1. Selflessness

Your focus is on finding the best solutions for Autospend, rather than prioritizing your own interests or those of your team. You are receptive to new ideas and are dedicated to identifying excellent opportunities for the advancement of Autospend and its merchants.

2. Curiosity

You are not only intelligent, but you possess a robust capacity to link and merge concepts from various fields. You aim to absorb new ideas and viewpoints.

3. Excellence

You are committed to excellence in everything you do. Your goal is to create innovative payment solutions for our merchants and their customers.

4. Communication

You are attentive and empathetic. You prioritize understanding before jumping into solutions. You offer honest, valuable, and timely input to your coworkers.

Explore Autospend's Powerful Features.

1. Payout Automation

Simplify your payment process with Autospend's advanced OCR technology. You can schedule transactions, make partial payments, and enjoy a streamlined process that saves time and improves accuracy.

2. Unified Accounts Payable

Effectively handle payments with our comprehensive workflow built for teamwork. Autospend guarantees a smooth and structured process for managing accounts payable, whether you're a small business or a large corporation.

3. Approval Workflow

Streamline your approval process by eliminating friction. Automate payment approvals using customizable policies to save time and ensure a seamless flow of financial transactions within your organization.

4. Tax Compliance

Automatically compute and subtract withholding taxes from invoices. Obtain a detailed breakdown of your tax obligations for each invoice.

5. Scheduled Payments

You can schedule future payments to vendors by choosing your desired payment dates. Once you've set the dates, you can leave the rest to us and forget about it.

6. Efficient Vendor Management

Create, access, and oversee vendor profiles and their payment histories. Monitor vendor invoices and keep track of upcoming payments.

7. Partial Payments

Pay small, small. Manage your cash flow jealously and efficiently by paying vendors partially.

Collect Africa Mobile Apps

Collect Africa is focused on empowering businesses to receive payments, with every function on the app contributing to this goal.

1. Business Account

Opening a business account with traditional banks often involves fulfilling numerous requirements, completing forms, and providing guarantors. The instant business account feature has been a major attraction for thousands of business owners on the Collect platform.

The company offers a web app and mobile app that can be downloaded from Google Playstore and App Store. Users can sign up and instantly receive a bank account. This account is used for receiving all funds, whether it's through online payments, POS transactions, or bank transfers, for business owners.

2. Invoices

As per the Collect Africa team, their invoice feature is described as being "like an enhanced version of invoicing". This feature allows business owners to easily create and send invoices to their customers directly from the dashboard.

The invoices come with payment links that lead users to a page where they can make payments through direct debit, various online channels, and bank transfers.

Each invoice is assigned a distinct account number, allowing customers to make transfers and enabling business owners to monitor the status of their invoices.

Online businesses face challenges when they rely solely on bank transfers as their payment method.

The payment link feature on Collect Africa allows business owners to generate links for one-time or recurring payments. These links can be shared with customers, who can then click on the link and choose from a variety of payment methods.

4. Revenue Analytics

Without a single payment channel, business owners would typically have to catch up on monitoring their daily inflow/outflow and manually calculate; however, by accepting payments on collect, the inflow/outflow of daily, monthly, and annual transactions is automatically calculated, allowing business owners to regularly monitor their revenue, know the health of their company, and take appropriate action for growth.

Collect is now Autospend.

We are relaunching under a new name to sharpen our focus on helping modern businesses automate and manage their spend. The name "Autospend" is a fusion of automation and spend management leveraging artificial intelligence to help businesses become more efficient with their finances.

This name change ushers in a new era of innovation and boldness. Like in Silicon Valley, we can build global software companies from Lagos, Nigeria.

Autospend wants to transform business spending by leveraging AI and well-built tools.

Thank you to our customers, my team and investors for the support and feedback necessary to make this happen.

Abraham Ojes
Related Topics


Industry

Iyinoluwa Aboyeji
Abraham Ojes

Collect Africa
Business Model

The Company major services and product include: Financial Services, FinTech, B2B, Payments, SaaS

The Company was Founded
The Company was established on
December 3, 2021
HeadQuarters
The Company has its Operational Headquarters at Lagos, Nigeria
Industry
The Company is contributing to the development of the Industry B2B, Financial Software, FinTech
Staff Strength since Inception
The Company prides in her team member of about 1 - 50 active members

Collect Africa Business Model

The Company major services and product include: Financial Services, FinTech, B2B, Payments, SaaS

yes
Have they recieved Funding from VCs
yes
Have they recieved Funding from VCs
yes
How many number of Funding rounds?
What is the company's Networth
Company Net worth as of 2023

List of Tech Companies in Africa by their Industries/Niches

Beside Collect Africa, who have made great impact in service delivery in the Africa region we have group other companies according to their Niches for you to quick preview.

List of Tech Companies in Africa by their Cities

Beside Flutterwave, who have made great impact in service delivery in almost all cities in Africa, we have group other companies according to their Cities for you to quick preview.
More Companies under review
Need more Companies?
Visit all the Companies

Email Subscription

We have reviewed a lot of companies. Kindly subscribe and get updates on the latest companies
Email

Stay informed and not overwhelmed, subscribe now!