Introduction
In the first quarter of 2024, Shukran, a pioneering financial services platform, continued its mission to revolutionize income growth and financial inclusion of service workers. With innovative solutions like digital tipping, savings and investments, Shukran is not just a fintech company—it's a movement dedicated to empowering one of the most underserved segments of the workforce.
Celebrating Growth and Expansion
Shukran's growth has been nothing short of impressive. Over the past quarter, they've seen a significant increase in user engagement and financial metrics:
The number of total users grew by 62%, reaching 4,000 registered users.
Assets under management saw a 101% increase, now standing at over 500,000 KES.
Perhaps most strikingly, the tip volume surged by 158%, totalling to over 1 Million KES.
This growth is a testament to the effectiveness of Shukran's platform and the acute need for such services in the service sector.
Strategic B2B and B2C Tipping Markets
Shukran has successfully expanded its footprint in the B2B tipping market, particularly within the hospitality industry. With 6 new hotels onboarded this quarter and more in the pipeline, they are setting a robust foundation for sustained growth. One notable achievement is processing 535,000 KES in tips for a single hotel, showcasing the potential scale of their tipping solutions for both direct and collective tipping.
In the B2C sector, Shukran has collaborated with over 70 influencers to increase their tip incomes from their fans, further driving the adoption of their platform among individual users and small businesses.
Fostering Savings and Financial Literacy
Beyond tipping, Shukran's automated savings feature has also seen remarkable uptake. The platform helped increase savings by 101% in just one quarter, with total savings reaching 521,000 KES. The number of saving members grew by 69%, underscoring the platform's role in fostering a savings culture among service workers.
A Vision for the Future
Looking ahead, Shukran is not resting on its laurels. They have set ambitious goals for the end of 2025, aiming to reach 100,000 registered users, process 15 million KES in tip volume and get 15 million KES in assets under management. These targets reflect Shukran's commitment to scaling their impact and continuing to serve as a catalyst for financial empowerment in the service industry.
Conclusion
Shukran's achievements in Q1 2024 underscore a significant shift towards greater financial empowerment and inclusion for service workers. Their innovative platform not only supports financial growth but also cultivates a more equitable economic environment. As Shukran continues to expand and refine its offerings, the future looks promising not just for the company, but for all those it serves.
Invest in Shukran
For those interested in becoming a part of this transformative journey, Shukran offers opportunities for investment. By supporting Shukran, investors can contribute to a sustainable, impactful business that is improving lives and strengthening communities.
Join our investor community today and make a significant impact - lokalcapital.com/investors/
