CRYPTO: COULD YOU CROWDFUND WITH #WESUCCEED ?
- ADMPawards : Hello Prudence ! Can you introduce yourself and your Team Please? Can you tell us more about your career?
Givette Prudence CHIEGUEN ( GPC): Hi everyone! My name is Givette Prudence CHIEGUEN, founder of Wesucceed.co. I’m turning 26, this month and graduated from ESSEC and ENSET of Douala. I have 2 others young and dynamic teammates: Arsel TINDO in charge of technical development of our web and mobile application and Pamela YEPMOU in charge of marketing and communication. Then, i will also add that, on top of being a young female entrepreneur, I’m also a teacher of GHTS in finance and accounting.’
2. ADMPawards : What’s the « Wesucceed » Concept ? What was your motivation when starting it?
GPC: Wesucceed is an online financing platform which connects entrepreneurs seeking funds for their business or project, and potentials investors from the entire globe, in order to provide funding adapted to their financial needs and necessary for the development of their business or projects. In return, entrepreneurs pay back a royalty on their turnover, every quarter, over the total duration of the investment cycle.
GPC: What really motivated me was seeing my father, a business owner, facing on a regular basis, sooO many financial difficulties and payment headaches, like: Delayed customer settlements, no cash in the float, to accept or simply run your services as you should normally do, or even ‘Slow-banking’, whilst he had products and customers ready and waiting ; And in return, all he had to deal with, was huge bank overdrafts with high interests rates hurting business. It is why I have decided to find the best mean to resolve that problem. I am doing this to help small size businesses like his, in emerging continents like Africa, but also globally, for all emerging economies around the world.
3. ADMPawards : How does it work please ? What problem do you solve with this platform?
GPC: With this platform, we want to solve the burning issue, of the lack of funding for small and medium-sized businesses, startups, micro and macro-SME’s etc… The second issue we are looking to tackle is of course, youth unemployment.
GPC: This concept is quite easy to understand: investors finance projects they like, as posted on the platform in fiat-money or cryptocurrencies (bitcoin, ether, ripple) and in return they earn firstly up to 1.5 to 3 times of their capital, that is paid back every quarter (3 months) over the duration of the investment and secondly, our own token that they can trade on the right exchange platforms. However, investors are not guaranteed a seat on the boards of the funded businesses.
Hence, we’re the first African crowdfunding platform which combines royalty crowdfunding and cryptocurrencies.
4. ADMPawards : What‘s is the value proposal of ‘We succed’ compared to other solutions, out there? What is your ‘secret sauce’ in one word?
GPC: Wesucceed.co differs from many other financial actors and platforms on the African Techmarket in many ways:
GPC: The principles applied by Wesucceed.co are on a “all or nothing” basis: Which means if your campaign is successful (The financial threshold or target, is reached or exceeded), we deduct, only 8% excluding tax – on the amount raised. But if it is a ‘failure’ (The financial threshold or target is NOT reached), the money and fund invested are sent BACK to investors, without a single FEE.
5. ADMPawards : What have you achieved since the launch of the platform?
GPC: The platform has not launched yet, because we’re still in the prototyping stage of the platform. However, we’re recruiting staff and have already, a couple of projects, ready-to-go and in needs of real financing.
6.ADMPAwards : What types of partnerships are you looking for? What are your needs?
GPC: We’re looking for strategic partnerships because that will be an added ‘Force’ to our growth arsenal, and will help optimize our services. We need investors, partners, like the World Bank, African Guarantee Funds, UNIDO, investment funds, incubators, Medias, Business schools and universities…Above all, investment is what is needed the most, in our case: it is a priority, if We Succeed wants to reach its goals and targets.
7. ADMPwards : How can ADMP support you ?
‘ We Succed would like to say ‘Thank you, you’re far too kind, to the entire TeaM ADMP crew!’
GPC: We will grab this opportunity to truly promote our project, in order to get it shared with as many people around the World, as possible. And ADMP brings that aspect to the equation! We need a reputable online branding vehicles like ADMP, to act as a mean for spreading, and building our company e-reputation and branding; ADMP will help forging our digital identity, through your blogging and tips activities
8. ADMPawards : On to those famous ADMP, ‘Last sentences’: Do you have a few words, or shoutouts for young people around the globe?
GPC: Yes, I do. We the young people of this generation from the whole planet, have to write down our own story like others generation, did. As a word of advice to young entrepreneurs and Africans, out there, I’d say:
- Do not stop dreaming!
- Think positive in all circumstances!
- Work hard, and play even harder!
- William Elong (Drone AfricA): ‘The world belongs to those who dream a lot”
This being said:
- Even if our political, economic and legal environment is not so ‘perfect’ for our development and emergence.
- Even if nobody understand your idea and tell you that it is impossible to get it off the ground…
- Even if ‘they” tell you that you don’t have quite enough experiences and so on and so on…
and lastly, even if, when things start to ‘happen’, but you still think that they are coming too ‘slowly’ for your taste ⇒ Keep working and dig deep! : You will always find at least one person who will contribute to your success.
‘Many Thanks, you’re far too kind!’
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