[Startup Interview] Nick Belmont, Chief Sales Officer, TBP Limited, UK
TBP Limited, a UK fintech startup, operates tbeep™, an electronic platform offering corporations a faster and smarter model that addressess the delays and physical interaction involved with handling money, cheques, and paperwork while providing financial institutions with a gateway to the unbanked, a $5.2 trillion-a-year market in developing economies.
Nick Belmont, TBP’s Chief Sales Officer elaborates.
Introduce your company
TBP is a UK Registered pioneering FinTech company that has designed, developed, and markets a low cost, secure, electronic gateway for business-to-business (B2B) financial transactions called tbeep™, a global system. We are now growing our client base in Sub-Saharan Africa with Banks, MMO's and FMCG's.
Who are the founders and what are their professional backgrounds?
TBP was founded by Guy Davies Bateman and Stephen Welshman
Guy is vastly experienced in the financial sector, splitting his time working for large institutions, creating his own company that delivered innovations, such as the first draw down scheme with NatWest & Citibank and private investment companies.
Prior to TBP Stephen held senior technical and managerial roles for and with some of the UK's biggest companies, including Allied Lyons, Unigate and Lloyds Bank.
Nick Belmont has held various business development and managerial roles over the years, Formally focused around FMCG and latterly around SaaS solutions. Nick joined us in Jan 2020 and is responsible for the design and implementation of the growth strategy of TBP
Where is your company located?
We are HQ'd in Shaftesbury, Dorset in the UK and have offices in MaputoMozambique and Kampala Uganda.
How is your company financed?
Why did you start TBP? What opportunities did you see?
There are around 1.7 billion adults globally do not have a bank account – also known as "the unbanked", nearly all "unbanked" adults live in developing countries. They have been adopting mobile money accounts at an increasing pace, almost doubling over the past 10 years. But still Cash and cheque payments are the most common forms of payment in developing countries. Banks miss out on the significant deposits from B2B transactions
Business spend time and resource on manually dealing with cash collection and lack of access to funds.
What problem or problems does TBP solve?
Our system replaces the current Corporate archaic payment for goods system of cash, cheques and paperwork, a particularly urgent requirement for Medical and FMCG's due to Covid-19.
For banks and other financial institutions, the tbeep platform captures the unbanked, a $5.2 trillion-a-year market in developing economies.
Those adopting our platform immediately benefit from an increase in the frequency and value of funds-on-deposit, whilst enabling them to offer value-added products and services to an entirely new customer base.
For all corporations, tbeep provides a method of working faster and smarter, avoiding the delays and physical interaction involved with handling money, cheques, and paperwork, whilst mitigating the associated security risks of transporting large quantities of cash. tbeep accepts e-wallet, mobile and bank account settlements at the point-of-delivery and negates the need to reconcile such payments against goods and services.
We recently updated tbeep to allow deferred settlement, so removing the ordeal businesses face managing post-dated cheques in their supply chains. Our web-based analytics channel also gives every MSME the real-time information they need to respond positively to marketplace fluctuations that continually impact their businesses.
What are TBP’s unique selling propositions?
tbeep provides the opportunity for banks to capture the vast number of cash transactions happening outside of their current financial ecosystems. It provides MSMEs with cost savings, security, convenience, and market intelligence. It furnishes both with significant growth acceleration, adds value to the economy, and ensures that both financial institutions and MSMEs are at the forefront of driving commerce forward.
Who are your customers?
We look to partner with Banks and our user targets are large corporates with direct delivery, wholesalers down to the Micro and small distributors
What would you say are the dynamics shaping fintech sector?
FinTech is transforming the financial services market. Technology is creating huge opportunities or social good and economic growth
What does your company need in order to grow?
Investment, we are looking to raise £500,000 to £1million
In which countries and markets are you looking to establish your presence?
Partnering with an International bank to open up new markets. Alongside multinational coporates to use our product across borders.
We are currently working in Uganda and Mozambique, and over the next 4 years want to establish a presence throughout sub-Shahran Africa, developing markets in Asia, Latin America and the Caribbean
What are your plans for the coming 12 months?
We are working towards expansion throughout East Africa, alongside future product development, A future benefit of the tbeep platform, already in development, will be its ability to permit financial institutions to offer micro-financing.
This will enable them to extend short-term loans to meet a substantial customer-driven demand that cannot be met by any alternative means. Lack of access to funding is a key constraint to MSME growth, it is the second most cited obstacle to expanding businesses in emerging markets and developing countries.
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