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NewPath

Equity
EIS

NewPath is focused on increasing access to smartphones in emerging markets by allowing customers to lease phones instead of having to buy the devices

Target
£1,700,000


Invested
£1,620,001


Min. funding
£900,000

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Overview

The company is focused on increasing access to smartphones in emerging markets by allowing customers to lease phones instead of having to buy the devices for the full cost upfront. One of their innovations is that they can reduce the smartphone device functionality if leasing payments are missed, enabling people with lower credits to get access to smartphones for the first time. 
 
The company has a b2b model where it is working with distribution partners such as telecoms operators, microfinance companies, leasing companies and handset distributors and is charging a SAAS fee per device to these partners. The company is currently live in Kenya and is rolling out to other countries in Africa and South East Asia this summer; including with telecoms operators which have more than 250 million customers. 
 

The company has an investor base which has sat on the boards of emerging market telecoms operators which reach 1.2 billion people and NewPath also has a shareholder which has an ownership stake in a telecoms carrier which reaches over 300 million telecoms in emerging markets. Their current sales pipeline of partners reaches over 1 billion customers – and with the majority of these the company has been introduced to the CEO’s of the respective companies. 
 

The company is also expecting to start a 4-year $3 million contract with USAID to roll out its solution out in West Africa. USAID are interested in the leased smartphones being pre-loaded with agricultural apps and financial inclusion apps and also for them to be bundled with small solar chargers / panels. This package will be financed and distributed by a local partner microfinance company. 
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Jessica Wilson

Deal Manager

Sector:

Technology / IT / Software

Country:

United Kingdom

Stage:

Early Stage (some revenues, pre-profit)

Minimum Funding:

£900,000

Target:

£1,700,000

Valuation:

£15,170,960

Share price:

£9.80

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Originator

Originator: Envestors

Contact name: Oliver Woolley

Investment Focus: Equity, Debt

About: Envestors is a FCA regulated corporate finance adviser in the UK and operates an international network of sophisticated investors investing an average of £42,000 in high growth unquoted companies seeking £250,000 to £2m in equity funding.

Over 1000

Experienced investors

Over £100m

Funding raised

ABOUT

Envestors is a FCA regulated corporate finance adviser in the UK and operates an international network of sophisticated investors investing an average of £42,000 in high growth unquoted companies seeking £250,000 to £2m in equity funding.

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