Nomanini, a South Africa-based payments platform provider, has announced it achieved 1,500 percent growth in transactions over 20 months.
The company, which also announced the successful scaling of its mobile point-of-sale (PoS) platform for informal markets, hit one million transactions in August 2014, and since then has seen growth of 1,500 percent.
It recently saw the 16 millionth transaction take place on its platform.
Much of this growth has been focused on Mozambique, Ghana and South Africa, and has been achieved against a backdrop of 99.99 percent uptime.
“This kind of growth is the result of our partnership model and the way in which we enter new markets by ensuring we have expert local partners on the ground. Much of this growth is focused on two or three partners, and it has proven that we can deliver a scalable platform by combining world-class technology with local expertise,” said Vahid Monadjem, Nomanini’s CEO.
“To have achieved such growth with almost 100 percent uptime also demonstrates the maturity of the product and the infrastructure around it. Reaching such a landmark number of transactions would mean nothing if there were periods when merchants were unable to use the platform and the fact that it is available to them all the time means it is a product they can trust,” Vahid added.
Nomanini designed a payments platform, which provides merchant aggregators with sophisticated business insights via a cloud-based platform, and merchants and micro-entrepreneurs in informal markets with the means to sell different types of services electronically and create a sustainable income.
The startup has been on the news for all the good reasons – apparently it is not letting all the growth get into its head.
At the end of last year, it launched its second generation product for informal markets – eLula – providing enterprise prepaid distributors with more sophisticated business insights as well as management tools.
Earlier this year, it announced the integration with M-Pesa in Mozambique, enabled via its local country partner, Mozambique Mobile Solutions (MMS), to allow merchants to use mobile money agents to top up their virtual vending accounts on Nomanini’s PoS terminals.
The company, founded in 2010, will not put a break to its speed any time soon. It will continue to hone the product as it looks to serve more merchants in informal markets.