 All right Thanks for being here guys. So just wanted to tell you more about what we do and Basically, this is our team which like without which like we wouldn't be able to do anything really great multidisciplinary cross-country team that we've been able to build and Basically the thesis of our work was that like in the region we operate in like most people are in banks like over 80% and the reason why they're in bank is not Because of a lack of a banking system the banking system is there just that people don't trust it and the number one reason Actually, one has to say it is because you have all these small merchants that like cash because it doesn't give traceability Enhance, you know, it allows them not to pay exactly the taxes that they should and that trickles down to the consumer It's like the consumer is like why do I need to have a bank account if at the end of the month? I have to withdraw all my cash to basically like buy my milk and bread and What was interesting about the region when we started back in 2017? Is that most on-demand services were pretty much in existence and when we looked at the details of the region? Most people were spending their money pretty much in transportation and food transportation because you have very big cities very high density population and most people were in banked I'm sorry and most people Sorry, I meant to say like the transportation system was pretty much our cake And then food like there isn't much else to do bite But do buy food like given you know like how large the family sizes are so Our thesis was like why don't we use on-demand services because they solve important and immediate needs and of course if we execute Well, we can have a very large user base that subconsciously trusts us And so once you have that trust then then it's actually what it makes sense to offer payment services And what's cool about this business model is that on-demand services are multi-sided marketplaces So we're not just targeting the consumer We're targeting the supply who are the drivers and the couriers We're targeting the merchants that are in our ecosystem And then more importantly, we're also connecting our merchants to the FMCG's wholesalers distributors. You name it And that gives us basically like a four-sided marketplace and a whole ecosystem that we tap into That we can offer payment services to and when I say like offer payment services to it's not just in terms of You know giving these solutions, but you could leverage some of the sites of the marketplace in our business So for instance like today we use our drivers and couriers as mobile agents to collect the cash and transfer the cash into electronic money And that's really powerful because like we have a network of over like a hundred thousand Drivers and couriers. And so at the end of your ride or at the end of your delivery Say like your ride costs you $10 you're gonna pay for that right? I think you can add money to it which will go to your wallet like in a very seamless way And that has really allowed us to actually leverage the power of the The on-demand services to get people into into our payment services So that's kind of you know like our business model from day one and of course like when we started Executing we wanted to start with the service that had the hash growth potential and ride hailing was actually there because As I mentioned earlier very big cities very high density population and transportation is our cake And it was really great product market fit for us So without actually spending much money we were able to grow that That market segment like very significantly as you can see here in the graph like in black And then we were lucky that we actually started food delivery right before COVID and we Really pushed for that like when we saw what was happening in China and other parts of the world That's a lot of us who keep growing through that period and of course you know like when things like got better in the region It even actually exploded and we were And we introduced like a third vertical which is grocery delivery With like very sound unit economics and actually like what drove really this growth is our ability to cross sell between the Products and this is what you can see here This is kind of like the retention curves that like we get on a 12 month cohort And you can see that you know like through the cross selling We can leverage quite a bit and to have like a very high retention for both delivery and ride hailing Not just that but even like the spend per user as you know like Months go by increases significantly for both delivery and ride hailing and that really has been key for for our growth Beyond you know like being able to you know like growing a very healthy way Our cost of acquisition is actually very low and we don't give many subsidies because of that power of cross selling It turns out that you know like the way we've been building things and like targeting You know like needs and necessities makes the cost of acquisition very small And even actually makes makes it a lot more organic than you know like paid And then you can see you know like how much LTV over track we can get In in our current business which really makes us unique in the region We're the market leader and like the what we call like the mugger region That's Algeria, Morocco and Tunisia and you can see like even like with some bigger players That come from other regions We're still you know like the key player and we continue to be hopefully like over Forever not just like the next few years All right What did really help us you know like beyond like the execution and having you know like this multi-sided market places And cross-selling First the brand like we're seen as the big local champion by both the users and the governments where we operate in Regulatory like because we're that local champion We've been able to actually work with regulators to push for laws that were very helpful Network effect of course the advantage that we have is that when we acquire users within a certain vertical We have the ability to actually get them into the other verticals pretty much for free and that's really is extremely powerful and the other thing is that we have very low all packs because of Like the low cost of living in the region we operate in Salary masses are actually much lower than what you have in Europe and that really allows us to remain lean and have Profitable business actually and the ecosystem of services really allows us to actually give like more work for our supply And so they're full whether that be through ride hailing food or grocery delivery They're actually like we're pretty much maximizing their utilization rate, you know like through the day and through their lifetime, you know like within our platform and Finally and more importantly and this is something super important Is that like you really need to know who your customer is and build your product based on the culture of the region as opposed to You know trying to copy what has happened elsewhere And that was really key also like in our success like we make our design super simple very intuitive and very Highly relevant to the region we operate in And Like people like don't know really well our region But it's actually like very very interesting and if you look at not only just like the GDP per capita But also like the number of cities that actually have like over like a million population You can see that you know like a large number of cities are big and we can actually tell her to like today We are only in 45 cities and we can actually expand into even further and what's more interesting Actually is also like the genie coefficient of these countries So if you take a country like Algeria it has a genie coefficient of about 28 which is pretty much like the same as Sweden That means like your middle and upper class is actually like super duper robust with with very interesting purchase power and The other thing is also GDP per capita Algeria has the second largest GDP per capita After South Africa Tunisia the third and Morocco the fourth And what's actually not accounted for like in these numbers is in the informal market So if you take Algeria, which is like a 200 billion dollar GDP There's another hundred billion and accounted for in the informal market, which is like three of tax So the purchase power of people actually is much higher than what people think It's actually even higher than or about the same as like some like southern European countries like France and Spain And the other thing is like really young young population with a very high cell phone penetration You actually like have higher penetration than you know, like even like electricity and water which really like makes it like super duper Interesting virgin market to actually acquire very quickly more importantly like 77 percent of the growth of That the world is gonna see over the next 30 years is gonna happen in Africa out of like the 2.2 billion You're gonna have about like one point 1.7 billion that is gonna happen on the continent Which makes the opportunity even bigger as we go over time, hopefully and build, you know, like a last last I mean a lasting technology company in the region Alright, I think that's all I have. Thank you so much for listening