Test Cards for the week of 14- 18th Dec

From Last weeks results and the lessons we learned we have the following assumptions to test this week.

  • We will talk to more companies who have been able to integrate to the mobile platforms and bank API’s locally and find out how they did it and what we need to make it happen.
  • Find out from mobile companies if there is a discount in transaction fees when the number of transactions increase and the volume of transactions increase or surpass a certain number.
  • Put an Advertisement  on social media as well as continue with cold calling to increase the number of users to our platform.
  • Continue to negotiate with potential partners into entering mutually beneficial relationships and if at all it is possible.
  • Calculate our current costs and determine if our current revenue model will offset the cost and forecast our future cost and future revenue and if we should pivot or iterate  on our current revenue.

We will have the results in the course of the week and we look forward to sharing them with you.

Lessons from our test cards 12.9.2015.

On 30th November 2015, we listed our assumptions NIM$ and designed experiments to test these assumptions, they include:

  • We can get lower charges if we integrate directly with a mobile money provider
  • We put an add on LinkedIn will increase signups, also outbound sales will lead to increased customers
  • We will be the first money platform to integrate with a bank that also has a mobile money service.
  • Local banks have API’s that would allow us to easily integrate to their systems.
  • We need to set up  24 hour support  for our customers.
  • Charging the customers a flat rate during transactions will increase customer sign up.
  • The amount of money we spend on online advertising will lead to increased revenue.

On 12th December we aggregated our findings from the experiments, here are the results:

  • It is possible to get a lower transaction rate once you integrate with the mobile money provider. They will, however, need a justification to give you a reduced rate e.g High Number of transactions.
  • You can integrate with banks, a number of banks provide API’s that make this possible.
  • We can partner with third party providers to connect to the mobile providers API, this will result in an additional cost per transaction, however, we can negotiate the price should we have volumes of transactions, their API is fairly good.

The other experiments did not yield concrete findings and have been extended until next week.

nim$ takes 1st Place in 2015 Startup Istanbul Challenge!

istanbulnims logo

2015 Startup Istanbul is the leading Startup event in Eurasia blending startups, entrepreneurs and investors from all over the world. It gathers the leading startups, internet companies, business angels and venture capitalists from Asia and Europe. This years’ event brought together 100 startups from 40 different countries across Asia, Africa and parts of Europe to compete on a common stage. Attended by world-renowned speakers, mentors, and investors from places such as Silicon Valley, the startups pitched in front of a jury that comprised of distinguished and accomplished figures such as Steve Blank, Andrea Barrica and Andy Tsao.


The events 2015 challenge series had quite an impressive list of distinguished speakers that comprised of Steve Blank, Erhan Erkut a Professor at MEF University,Dave McClure a founding Partner of 500 Startups and Morten Lund the Chairman of the Board of Directors at CapitalAid Ltd.

The 5 day 2015 startup Istanbul challenge had a tight schedule with day 1 and 2 having activities involving thorough Pitching, Training and mentorship of the startups. The selected 100 startups had the opportunity to meet the best mentors from US and Europe, rigorously pitching to them as they gathered feedback on how to improve their pitch decks before eventually pitching to investors.

day 1 and 2

Day 3 was set aside for the 50 selected startups to pitch to the judging panel, which had included renowned figures from Silicon Valley, the likes of Steve Blank with only Top of the class investors having being invited to attend the demo. At the close of day, top 15 startups were selected as finalists to pitch at the main stage to an audience of 2000+ attendees including Angels and Venture Capitalists.


Day 5 being the Finals, all 15 startups pitched on the main stage for 1st, 2nd and 3rd prize with nims emerging overall winners taking 1st Place.

with no 2 and no 3

Second place went to iGrow from Indonesia, for its platform helping people with planting of crops, while in third place was Taskulu from Iran for its online task management platform.

winners kenya

Take a look at the colorful award ceremony.