Do you have issues on business transaction in Nigeria?SafeTrader output AI-powered escrow service to secure your transaction for your business.
Q1: Hi, Daniel, What's your education background, what were you working on before this startup SafeTrader. What's your work experience, Can you introduce your business to our users?
I’m a student of Communication Technology from National open university. Before starting safeTrader
I was working at Kiakia.co. As a programmer. That was where I met my co-founder Adeniyi Mikail, and we came up with a solution to help stop the prevailing existence of online fraud in Nigeria.
Q2: How did you get into the programming world? and became a developer? How did that happen?
I’ve always been passionate about programming, I started coding as a hobby after my secondary school. While in the university, I decided to take it more seriously, from then on I’ve been building websites and web applications.
Q3: What experience or idea inspires you to get started with SafeTrader and what does this mean to users in Nigeria? (If you can, please attach related photos about that experience )
SafeTrader was started out of genuine concern. We realized that the prevailing existence of fraud needed to be checked as it accounts for the loss of revenue to one or all parties involved in a business or trade agreement. We, therefore, designed a system that guarantees trust and provides a cushion of safety to enable smooth and hitch-free transactions both online and offline.
Q4: How SafeTrader works? What are the services you can offer on your website? How did you find clients who wanna buy your services? Why did users willing to use your products and services?
Safetrader is an AI-powered escrow service startup, established with the aim of providing safety and safeguarding the trust of parties to a business transaction in Nigeria, Africa and the world at large.
We use a chatbot with the aim of providing a system where business can be transacted with peace of mind, trust and without fear. We do this by acting as a trusted third party who ensures that all parties are held accountable to the terms of the agreement they entered in the course of transacting any business.
Users are willing to use safeTrader because of the ease and simplicity of our services, It is accessible from your mobile phone or personal computer within minutes, and your transaction is secure.
Q5: What are your thoughts on the current state of IT industry and online shopping in Nigeria? How can your services help users?
The IT industry and online shopping in Nigeria is still developing, in the online shopping industry there have a been a lot of improvements, before it used to be order online and pay online, now there are other options like pay on delivery, even though most online stores still prefer pay before delivery because of the challenge of some sellers not trusting the buyers. In most cases, the buyers also don't trust the sellers or they’re are skeptical about paying for goods they’ve not received. This is where SafeTrader comes in, our services help to allow that environment of trust, so business owners can do business without fear and the buyers also can shop with anybody knowing that they run no risk to their funds.
Q6: How did you find your co-founders and employees? What's the story of how you set up your team? (please attach some team photos and co-founders photos)
My co-founder and I were both colleagues at a former place of employment. I was in the tech department and he was in the business support department, from interactions we realized that we had aligned interest. That was what started the journey for us.
The members of the team were past colleagues from our separate places of employment before we met each other. The team is made of people that we need to achieve the goals that we set. We also have someone on the team that was based on the recommendation from a trusted senior colleague in the industry.
That is how the team is set up.
Q7: When you guys began to build this startup, what were the difficulties your team faced and how did you guys fix them?
An essential difficulty we faced was funding, but we dipped into our personal savings along with support from an angel investor, and we were able to overcome this initial hurdle.
Q8: How did you get initial money to start the business? Did you raise some investment from angel investors like other companies?
We are currently running on funds from an angel investor and our personal seed capital.
Q9: How did you attract new users to your website and scale your business? What are the useful and practical operation methods you can share?
Currently, we get news users from social media and referrals. Social media marketing is one of the fastest ways to gain exposure to any type of business.
Q10: How can you secure your services are reliable and trustable? How can you ensure security between buyers and sellers? How can you fix transaction disputes between buyers and sellers? Would bad services exist? How to avoid these happen? Can you recommend one successful client example from your website? What did he get after he used your services? What is the link to it? (If you can, please attach related photos about these )
We are very reliable, An example is a client in Ibadan who needed the services of an app developer in Abuja. Because of SafeTrader he felt comfortable to do a transaction with someone he doesn’t have physical contact with. The client was very understanding saw the progress the developer has made and opted to give him an extension to enable him to complete the project. At the end of the day, everybody was happy.
Would there be bad services?
Definitely, Some people are out to defraud people, some just disappoint. An example is an artisan that takes too much work and is unable to meet with the delivery date and ends up disappointing his clients.
Q11. How do you fix transaction dispute?
The full details of a transaction (the kind of services they want, when the job will be delivered) are filled before the transaction starts. When a due date is approaching we reach out to both party to be sure the service provider will be able to deliver on that day, and that the client is still on course and understands what is going on. If the service provider is unable to deliver we reach out to both parties to find an alternative solution and to know if it’s a minor delay or we need to cancel the transaction and make a refund.
We try to ensure there’s no dispute in the first place that’s why we are constantly communicating with both parties.
Q12: How did you grow your revenue? What's the story behind how you got your first revenue from clients?
The first revenue stream and first few clients were people we know (Friends/Family). They, in turn, helped to inform the other members of the public, and word of mouth spread the message.
Q14: What is the advice do you have for newcomers who want to get into the Internet and programming area?
Everyone is zero at the time of starting, make lots of mistakes, always find time to learn and most importantly Invest in yourself!
Q15: What're your goals for your business? Why do those goals are important for you?
we are looking to become the household name and the go-to company when it comes to safety and security in commerce. We hope to be the game-changer, the narrative changer with respect to transacting with Nigerians internationally. We hope to make Nigerian businesses and business owners attractive and trustworthy to completely eradicate the fear factor associated with dealing with our countrymen internationally.
Q16: How do you keep learning? Where do you go to learn more?
I create time to always learn, I learn from industry experts, I learn from my mentors, Online course.
Some of the sites I go to learn:
Scotch io - https://scotch.io/
Udacity - https://www.udacity.com/
LinkedIn Learning - https://www.linkedin.com/learning/
Q17: What do you do on a daily or a weekly basis that you think is important in terms of forming your skills and opinions on this area?
What is the one day like you usually do? (e.g. 9:00- 12:00 programming, 13:30- 15:30 meet clients)
I set goals for myself on a weekly basis, things I need to read, things I need to learn, areas I need to improve. And most importantly brainstorm on areas we need to make safeTrader better.
Q18: What's your biggest surprise over the last three, four years in the internet industry where you have been working? What happened that you didn't expect?
That has to be “Amazon surpassing Microsoft as the largest company by market value”
Q19: What's your plan for your business in the next months? What's your business roadmap for next year?
For many parts of our early development, it has been about fine-tuning the service and we are now convinced that the priority for 2019 is to expand further and grow the number of users. We intend to achieve this through increased expenditure in the area of advertisement and sensitization, an area we have neglected before.
We are also looking at collaborating with more businesses that would require our services regularly in line with the kind of operations they carry out.
Q20: Where can we know more official info about you and your companies?
Our Official website
E: [email protected]