Monthly Newsletter #7: $1.8M and 3,000+ entrepreneurs in our first year!
This newsletter was originally sent to The Nest network on Tuesday, December 14th. To subscribe for future updates please click here.
Good morning, good afternoon, and good evening!
Untapped is a data company and metrics drive everything we do, so it would be easy to rattle off what we’ve accomplished this last year with a bunch of numbers. Instead, I’d like to take the opportunity to reflect on what the team’s hard work has achieved this last year beyond the number and what it means for our future aspirations.
At the beginning of 2021, we set out to prove that Smart Asset Financing could be a safe, scalable, and profitable way to invest in small businesses in Africa with some of the fastest-growing markets in the world. As we rolled out the model in Kenya, Uganda, South Africa, Nigeria, among other countries, we saw at a human level how much of a difference a little bit of capital can do when given to the right people. We saw that every dollar invested led to an immediate and exponential increase in wealth created by local entrepreneurs, and heard their stories about how much of a difference that growth mattered for their families and their view of the future.
What the Untapped team did in 2021 convinced me that we have a historic opportunity to do something that goes beyond our individual futures and interests. It convinced me that we can ride the wave of digitization to reshape how we do business — very specifically how we invest and how we get capital to businesses — and that the Untapped team’s hard work has the potential to improve the lives of billions, and in turn create a more equitable and peaceful future.
My twin daughters Lexi and Tali often accuse me of having delusions of grandeur. Well, I say to them that if we find a practical way to achieve big dreams, we should dream even bigger. And that’s what we intend to do in 2022. We grew faster than we hoped in 2021 and our aspiration in 2022 and beyond is to test the limits of how much impact Untapped and data-driven financing can have on democratizing prosperity. I can see a credible path for Untapped to positively impact one billion people within 10 years and perhaps multiple billions in my lifetime. Our goal is to create an entirely new category for investing and finance that will change how the global north meets the global south. That’s why I jump out of bed every morning, and why I can’t wait for 2022.
Ok, I can’t help myself so here are some metrics after all: 2021 revenues from Smart Asset Financing went from $0 to an annual run rate of over $1.8M, while empowering 3,000+ of small businesses in 8 countries on two continents, all in less than 1 year. I’m so proud of the incredible group of humans that are working together on this journey.
Happy holidays and happy 2022. See you on the other side!
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