OurPass: The Unfolding Story of a “Fast for Africa” Dream
When OurPass successfully secured its pre-seed funding in September 2021, the Nigerian tech startup declared an ambitious goal: to become the “Fast for Africa.” This aspiration placed it directly in the path of emulating Fast, the US-based one-click checkout solution that had raised over $120 million and reported $600,000 in revenue in the same year. However, in a twist of irony that often characterizes the volatile startup landscape, Fast ultimately ceased operations less than a year later. Coincidentally, OurPass also chose to shutter its one-click checkout service around the same period, marking a pivotal moment in its journey.
The Reality Behind the One-Click Checkout Promise
OurPass, established in 2020 by co-founders Samuel Eze, Gbeminiyi Laolu-Adewale, and Rogers Mugisa, initially emerged as ParkCrowdy, an e-commerce platform that notably included a one-click checkout functionality. While the company publicly claimed to have processed $500,000 by the time of its pre-seed funding announcement, industry sources paint a different picture regarding the actual adoption and utility of its one-click checkout feature. Despite the bold aspirations and reported figures, numerous accounts suggest that the one-click service struggled significantly to gain meaningful traction within the market. As one source candidly shared with Techpoint Africa, encapsulating the underlying sentiment, the “One-click checkout was only one-click checkout on paper.” This lack of genuine market penetration and user engagement ultimately highlighted the disconnect between the ambitious vision and the operational reality of the one-click offering.
Faced with the undeniable challenges and limited traction of its initial one-click checkout venture, OurPass embarked on a significant strategic pivot. The company shifted its focus entirely, setting its sights on the burgeoning sector of business banking in a determined effort to secure a second lease on life within the competitive African tech ecosystem. This move signifies a clear re-evaluation of its core business model, hoping to find more fertile ground and sustained growth in a different domain.
Keywords
Related Keywords: OurPass promise, OurPass promised feature, OurPass unfulfilled promise, OurPass app updates, OurPass future plans, OurPass reviews, OurPass news, OurPass reliability, OurPass pledged, OurPass expectations
