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FUNDIS APP LTD
Founder(s): 2
Founded: 2022
Location: Kenya
Category: Workforce and Skills
About the company
"FUNDIS is a job marketplace, enabling candidates to create digital profiles showcasing assessed experience/ qualifications and work portfolios for matching with employers enhanced with auxiliary products e.g. loans, insurance, learning modules and certifications. "
Company Overview
FUNDIS enhances the productivity of Africa's artisans through quality job matching and job improvement. Skilled trades and professions constitute about 40% of Africa's large informal sector. Most artisanal skills, knowledge, and competencies in Kenya (and Africa) have not been recognized, assessed, and certified, yet recruitment processes for available vacancies continentally and globally increasingly demand for certificates that informal and non-formal learning do not offer. The FUNDIS Mobile App enables artisans to digitally create career profiles, document their past work and portfolios, get assessed, and graded, access continuous upskilling, and get certified/accredited for job matching.
Market Opportunity
Every year, an additional 84,400 formal jobs and 670,000 informal jobs are created in Kenya. Working with hiring costs assumptions developed by FSD Kenya, it is estimated that the Serviceable Addressable Market is c. US$ 70M, with the Serviceable Obtainable Market is estimated at US$ 2M (construction industry in Kenya alone).
Product Description
The FUNDIS solution is accessible via a mobile application or through the web with the following key product features: Candidate’s verified work portfolio, process and tools to enable candidates through skills testing, developing a credentialing system and training or reskilling/ upskilling of candidates, and financial services tools, e.g. payment collection, micro-loans, and micro-insurance.
Business Model
Fudis operates B2C and B2B model serving both individual artisans and businesses FUNDIS generates revenues through the following avenues: -Commission charged from artisans’ service charge. -Per feature pricing e.g. vetting, matching, upskilling & re-skilling. -Bundled Subscription for specific skill types, companies and industries.
Ownership
The Kenyan entity, which is applying into this program, is 100% owned by Fundis Inc. (Delaware) with the shareholders being Alex Kamanga Mwangi (67%), CEO, and Kuria Capital (33%)
Target
Founder(s)
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