OurPass, a digital commerce solution headquartered in Nigeria has announced its launch over a virtual event.
Revealing the motivation for building the startup, Samuel Eze, co-founder and CEO disclosed that the idea for OurPass came from watching his mother struggle to make purchases online.
All too often, she had to switch between various eCommerce sites and frequently ended up not buying anything.
Further research showed that she was not the only one who had such challenges. With this evidence, he set out to solve the problem with OurPass.
“OurPass is a mobile app that enables consumers to shop in one click thereby reducing abandoned carts and increasing sales for merchants. All you have to do is to sign up on OurPass once and you’ll never have to do that again.”
As mobile and internet penetration has grown in Africa, more people are comfortable with the idea of shopping online. The growth of fintech startups especially in the payments space has also facilitated the growth and acceptance of eCommerce in Africa.
However, despite this progress, like most parts of the world, issues with checkout and needing to visit multiple eCommerce stores to make a purchase remains a challenge.
According to Shopify, 24% of people abandoned their shopping cart because the site required them to create an account while 18% of people abandoned their cart because of a long and complicated checkout process.
It is this problem that OurPass is determined to solve. With its mobile application, users only input their details once and subsequently, are able to make purchases on the platform.
To do this, the startup has curated a few merchants on the platform and recently acquired Storemia, an online storefront provider.
The startup offers users three major offerings: a 0.8% transaction fee capped at ₦1,000 for merchants, five percent commission, and free deliveries. Customers can also purchase airtime and pay bills on the platform. Buyers enjoy free delivery, fast, easy and safe checkout across all websites that have OurPass integrated, and can track all their orders and transactions.
“The coming together of Storemia and OurPass is one of the revolutionary mergers in the Nigerian tech space because both products are very complementary. Storemia in itself is the easiest and fastest way to create eCommerce stores.
“OurPass is the fastest checkout tool for eCommerce stores so when you bring the power of Storemia and the power of OurPass together, then you have a super product,” Bolu Oluwagbesan, founder of Storemia said.
The startup has raised a pre-seed round of $1 million led by Tekedia Capital and angel investors from Fortune 500 companies.
Professor Ndubuisi Ekekwe, founder of Tekedia Capital, expressed delight to be investing in the startup. “I remember the first time the OurPass team pitched their idea to me. I immediately knew that it was a great product because if we can reduce the friction customers have when they want to pay for something, everyone will be very happy.”
Barbara Salami, one of the angel investors said, “The platform resonates with me because it truly opens up access to commerce where customers beyond having the opportunity to securely and conveniently place orders could potentially place and receive orders from anywhere in Africa.”