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RICHAUNTI

Richaunti is a digital tontine platform and mobile app enabling seamless participation in automated savings cycles.

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Campaign Ends on March 31, 2025

Project Description

Project Description

I. Project Description

a. Problem and Solution
Traditional tontines, though effective, face several limitations: lack of traceability, vulnerability to fraud, and reliance on physical proximity.
RICHAUNTI Solution: An automated mobile application that facilitates collective savings cycles while ensuring security and transparency.

b. Value Proposition

  1. Transaction security through technology.
  2. Flexible cycles tailored to users' needs.
  3. Democratized access for underbanked communities.

II. Market Analysis

1. Market Size and Potential

  • Traditional Tontines: Widely practiced in Africa, Asia, and diasporas in Europe and America, representing a massive informal market estimated at billions of dollars globally.
  • Digitalization of Financial Services: The shift to digital platforms for collective savings and management solutions is growing rapidly, driven by increased smartphone penetration and fintech solutions.
  • Target Market for RICHAUNTI:
    • Geographic: Primarily Francophone African countries and their diasporas.
    • Demographic: Middle-class individuals, young professionals, entrepreneurs, and expatriates aged 18–50.
    • Technological: Mobile-savvy users familiar with fintech services (mobile payments, digital banking).

2. User Needs

  • Trust: Users require a secure system for managing tontines.
  • Flexibility: Cycles tailored to specific incomes and needs (daily, monthly, etc.).
  • Transparency: Clear visualization of contributions, penalties, and collected funds.
  • Simplicity: Intuitive interface and integrated communication system.

3. Differentiation Opportunities for RICHAUNTI

  • Integrated voting and chat system: Unique in the digital tontine landscape.
  • Automated penalty management and transparency: Minimize disputes and build trust.
  • Ultra-flexible cycles: Adaptable to daily, weekly, or annual needs.
  • Competitive fees: At 6%, lower than many competitors.

III. Key Market Trends

  1. Growth of Fintech in Africa:
    • Massive adoption of mobile wallets (M-Pesa, Orange Money, etc.).
    • Increased investments in fintech startups.
  2. Shift to Digital Solutions:
    • Growing use of online services in diasporas and urban areas in developing countries.
  3. Collaborations with Banks:
    • Integration between digital tontine solutions and financial institutions to enhance trust.

IV. Positioning Strategy for RICHAUNTI

  1. Unique Value Propositions
    • Accessibility: Simple, multilingual interface (French, English, and local languages eventually).
    • Security and Transparency: Real-time tracking of contributions and distributions.
    • Flexible Cycles: Adapts to diverse user needs.
  2. Pricing and Fees
    • Competitive fee of 6% on contributions (lower than many competitors).
    • Clear communication of fee usage (e.g., development, security).
  3. Marketing Strategy
    • Targeted Campaigns:
      • Advertisements on social media popular among African diasporas (Facebook, WhatsApp, Instagram).
      • Partnerships with influencers and community leaders.
    • User Education:
      • Creation of explanatory videos and tutorials.
      • Demonstration sessions in urban centers.
  4. Strategic Partnerships
    • Collaboration with local mobile money and fintech services.
    • Integration with banks to enhance reliability.

V. Our Vision
RICHAUNTI positions itself as a modern, reliable platform for managing tontines, focusing on flexibility and transparency. Leveraging the growing fintech market and differentiating through unique features, RICHAUNTI aims to capture a significant share of this expanding market.
A pre-launch campaign focused on user education and strategic partnerships will be key to maximizing adoption.


VI. Impact Assessment

1. Economic Impact

  • Indicators:
    • Collective savings volume: Total savings facilitated through the platform.
    • Fund rotation rate: Number of successfully completed cycles.
    • Contribution to entrepreneurship: Number of projects financed via tontines.
    • Reduction in informal costs: Comparison of traditional vs. digital tontine costs.
  • Methods:
    • Analysis of transactional data on the platform.
    • Case studies of users achieving financial goals with RICHAUNTI.

2. Social Impact

  • Indicators:
    • Female participation rate: Proportion of women using the platform for savings or project funding.
    • Inclusive communities: Number of participants from rural or vulnerable groups.
    • Emergency support: Number of tontine cycles used for urgent or solidarity needs.
  • Methods:
    • User surveys to assess satisfaction and well-being improvements.
    • Collection of testimonials showcasing successful community support cases.

3. Environmental Impact

  • Indicators:
    • Reduced travel: Estimated decrease in physical meetings due to digitalization.
    • Eco-responsible projects funded: Number and type of green projects (e.g., solar energy, recycling).
  • Methods:
    • Data analysis of cycles dedicated to green initiatives.
    • Emissions reduction comparison with traditional practices.

4. Educational Impact

  • Indicators:
    • Financial literacy training: Number of users completing educational programs via the platform.
    • Improved financial management: Proportion of users reporting better financial control.
  • Methods:
    • Tracking training sessions and participant engagement.
    • Pre/post surveys to measure knowledge gains.

5. Technological and Digital Inclusion Impact

  • Indicators:
    • Adoption in remote areas: Percentage of users from regions with limited financial services.
    • Facilitated access: Number of users onboarded due to simple features (multilingual interface, mobile accessibility).
  • Methods:
    • Geographic and demographic user analysis.
    • Qualitative studies on barriers removed by RICHAUNTI.

6. Trust and Transparency Impact

  • Indicators:
    • User satisfaction rate: Trust level in the automated system.
    • Reduced disputes: Frequency of conflicts before and after using the platform.
  • Methods:
    • User satisfaction and experience surveys.
    • Data audits on penalties and disputes.

7. Overall CSR Impact

  • Indicators:
    • Number of CSR strategic partnerships: Collaborations with NGOs, businesses, or financial institutions for social and environmental initiatives.
    • Published impact reports: Frequency and quality of CSR evaluation reports.
  • Methods:
    • Annual compilation of key results and impacts.
    • Use of frameworks like SDGs (Sustainable Development Goals) to structure and align impact measurements.

By implementing these indicators and tools, RICHAUNTI will not only track its progress but also effectively communicate its success to partners, users, and investors.

Team: Me and my brother are both French with a Congolese family, we grew up with the classic system of tontine and witnessed the limit of the banking system in Africa. I come from Tech he comes from finance and together we want to propose a real solution for our people than everybody

Updates

The Campaign FAQs

 

1. What is RICHAUNTI?

RICHAUNTI is a digital platform and mobile app that allows users to participate in tontines. It automates the contribution process and offers flexibility in distribution based on participant votes and priorities. It's designed for friends, family, and colleagues who want to pool funds for specific purposes or emergencies.

2. How does the tontine system work?

Participants in a tontine contribute a fixed amount regularly, and the total collected is distributed to one member according to the cycle (daily, weekly, monthly, or annually). The platform automatically assigns the distribution order, but participants can vote to decide who gets the money in the next cycle.

3. What happens if I miss a contribution deadline?

If you miss the contribution deadline, a 10% penalty will be applied to your outstanding payment. If you do not pay the overdue amount by the end of the cycle, you will be expelled from the tontine.

4. How are the contribution deadlines set?

The creator of each tontine chooses the cycle frequency (daily, weekly, monthly, or annually). Based on this, deadlines are as follows:

  • Daily tontines: Payment is due one hour before distribution.
  • Weekly tontines: Payment is due one day before distribution.
  • Monthly tontines: Payment is due one week before distribution.
  • Annual tontines: Payment is due one month before distribution.

5. Can I vote on who receives the money in the next cycle?

Yes, participants have the ability to vote on who should receive the funds in the next cycle. This voting system allows flexibility, letting the group decide based on their needs or preferences.

6. What happens if someone refuses to pay or fails to pay repeatedly?

If a participant refuses to pay or repeatedly fails to meet payment deadlines, they will be expelled from the tontine at the end of the cycle during which they missed their payments.

7. How are the funds distributed among the participants?

The funds are distributed in the order of participation by default. However, the voting system allows participants to prioritize who receives the funds next. This provides some flexibility in terms of fund allocation.

8. How does RICHAUNTI make money?

RICHAUNTI charges a 6% fee on every tontine collection. This fee is deducted before funds are distributed to participants.

9. Is RICHAUNTI secure?

Yes, RICHAUNTI uses encryption and secure payment gateways to ensure the safety and privacy of your financial data. We also have measures in place to prevent fraud and ensure the integrity of the tontine system.

10. Can I join or create multiple tontines?

Yes, you can join multiple tontines and even create several tontines at the same time. Each tontine can have its own unique cycle, amount, and participant list.

11. Can I withdraw my money before the tontine cycle ends?

No, you can only withdraw the collected funds once the cycle has been completed. The system is designed to distribute funds according to the agreed-upon cycle.

12. What happens if a participant does not vote in the system?

If a participant does not vote, the distribution will proceed according to the automatic cycle order. However, the platform encourages all members to participate in the voting process to ensure the system remains flexible and fair.

13. How can I contact RICHAUNTI support?

If you have any issues or questions, you can contact our customer support team via the app or email. We aim to respond within 24 hours to help resolve any issues.

14. Is there a mobile app for RICHAUNTI?

Yes, RICHAUNTI is available as a mobile app for both Android and iOS devices. You can download it from the Google Play Store or Apple App Store.

15. Can I invite friends to join a tontine?

Yes, you can easily invite friends, family, or colleagues to join a tontine by sharing an invite link. You can also share the app and encourage others to participate.

16. What happens if I want to leave a tontine early?

If you wish to leave a tontine before the cycle ends, you must inform the group, and your contributions may be refunded, depending on the specific rules set by the tontine's creator.

These FAQs cover a broad range of user concerns about the platform and its features. Let me know if you'd like to add more!

 

 

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5,000.00 USD
Monetary Contribution

For every $5,000 donation, contributors will have the opportunity to participate in an exclusive call with the founders and receive a consultant status.
This donation not only supports the growth of the company but also allows contributors to directly engage with the founders, offering their insights and expertise. As a consultant, you will be able to provide valuable feedback, share ideas, and actively contribute to the strategic direction of the company. This is a unique chance to collaborate with the leadership team and play a key role in the company’s development.

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About the Entrepreneur

Paris 04,
Created 1 Campaign
Tech
Social Good

Rewards

Reward image
5,000.00 USD
Monetary Contribution

For every $5,000 donation, contributors will have the opportunity to participate in an exclusive call with the founders and receive a consultant status.
This donation not only supports the growth of the company but also allows contributors to directly engage with the founders, offering their insights and expertise. As a consultant, you will be able to provide valuable feedback, share ideas, and actively contribute to the strategic direction of the company. This is a unique chance to collaborate with the leadership team and play a key role in the company’s development.

10 Left
0 Supporters
Select this reward