TorQue is seeking an equity investment of $200,000 to expand its market share in Rwanda, as well as sell its software package across new markets in East Africa, and potentially beyond. An investment in new market expansion in TorQue will drive increased quality and customer base.
With a cash infusion of $200,000, TorQue will
- Build a larger technical team to manage scalability and absorb the increase in the amount of data managed by its Workspace software system.
- R&D for next generation of the Workspace product - new platform (PHP to Java/Play), add a new mobile app on android platform and add gamification through a reward system, and add data visualization.
- Scoping and expansion in two additional geographies.
- Develop additional client tech support and training modules for international expansion, rather than 1:1 in-person client support.
TorQue seeks an investment partner who provides not only financial resources, but also access to pan-African networks, and the ability to open new markets. Our expansion strategy hinges on the partnership of multi-nationals who have a vested interested in TorQue and who will help with multi-country expansion. In exchange, investors will gain a stake in a fast growing niche of the African software market, as well as access to network partner investors (Tigo), and more.
TorQue is one of the few companies in Rwanda providing tailored mobile and cloud-based solutions for tracking distribution of wholesale producers.
TorQue’s “Workspace” product is the signature software used by Heineken’s core distributor in Rwanda, Bralirwa, and is poised to be the signature software for insurance companies as well as telecoms. Currently TorQue has 40 distributors using the system, each with around 17 warehouses or shops (beverage and telecom) and close to 150 logins a day. In the next 6 months, we anticipate expanding to 200 warehouses in Rwanda, plus adding insurance software. We anticipate an additional 200 daily users from the insurance software product, and an increase to 2000 daily users from the beverage industry.
The target client for Workspace is the large multi-national that seeks to manage the distribution network, as well as collect data from the ground up, on a massive distribution network.
Management has been successful in building the company to meet its current financial projections. TorQue’s FY2014 total income will be roughly $55,000, with a profit of roughly $30,000, not accounting for additional equity investments.
With additional fundraising in 2014-2015, TorQue will be able to grow its customer base with new staff to customize products and reach new markets. TorQue’s multiple revenue streams monetize each step of the client use package.
- Product License – one time set up at contract launch
- Product Customization – hourly fee
- Usage Subscription – monthly fee for on-going use
- White Label Brand – monthly fee
- Training - hourly
TorQue plans to become the largest provider of SME distribution software for the beverage, insurance, and telecom industry in the next three years.
TorQue plans to achieve this goal by becoming the first or second largest provider in the Rwandan market, and then expanding to markets through the network of its anchor clients.
Data collection and analytics are valued among corporate and government alike that seek to have reliable data about private sector functions and consumer patterns. The data that is collected through TorQue Workspace has been used exclusively by the wholesaler client for an understanding of their distribution channels. There is the possibility that in the future, the sale of data analytics could prove to be a valuable revenue stream from the information aggregated by TorQue. TorQue’s values would lead the company to preserve individual client data, but the analytics could be used for additional value creation for the company. Big data on African distribution and consumers may prove to be TorQue’s biggest asset.
TorQue will maintain a minimal staffing plan to remain flexible and responsive to client needs, even as we add additional layers of external staff to assist in sales, etc.
The existing staff provide the technical and business expertise to implyJean Niyotwagira – Founder, CEO
Jean is the founder and CEO, in charge of overall strategy and development of the company. While in his third year at Kigali Institute of Science and Technology, Jean co-founded his first company, an app developer, HeHe Ltd, after having attended an MIT organized boot camp in 2010. After the boot camp his software (TorQue Workspace) was awarded the strongest technical implementation price and today it is the TorQue Ltd.’s leading product.
TorQue Workspace is now featured in Forbes as one of African software products that have an edge to the future. Jean has a wealth of technical experience with startup companies and he is using his business and leadership skills to place the team ahead of the software industry in East Africa.William Ndandali – COO