Frankfurt, (Germany), January 2020. Superfluid LabsSuperFluid Labs is a Kenya/Ghana-based data analytics/machine learning software platform that is exemplary of the potential and innovation GreenTec Capital sees in Africa. The company finished the 2019 fiscal year on strong footing demonstrating an uptick in development and sales, as well as successfully raising funds from several investors. Superfluid has now begun 2020 with even stronger momentum following their victory at the ENGIE credit-scoring challenge in Kigali during the 2020 Africa Tech Summit.
Since signing with GreenTec, Superfluid has focused pivoting their business from a successful consulting company to become a SaaS platform to enhance their scalability. The team focused much of their 2019 activities on business model optimization efforts and transforming their product offering to a SaaS-delivery consumer scoring solution for banks, financial institutions, and other asset finance merchant retailers. The updated strategy clearly paid off. Based on the company’s performance and rapid implementation of the SaaS solution the company underwent a funding round starting in Q3 2019. We are happy to report that Superfluid attracted investments from a consortium of investors including a Cape Town, South Africa-based angel investor; Joint Adventures LLC, a US-based PE company; and a German angel with extensive experience in private equity and alternative investment space. The raised funds will be used to further implementing their SaaS-delivery consumer scoring solution and developing sales channels. By years’ end Superfluid had doubled its client list and processed more than 250,000,000 records. With one of the company’s new clients, SuperFluid tools were used to analyze the company’s loan book and suggest customers for additional fine-tuned product up sales, improving the Customer Life-Time Value and the Portfolio value from -7 USD to +38 USD.
Following the strong 2019 performance, the Superfluid team delivered again being selected as the winner of the ENGIE Challenge at the Africa Tech Summit in Kigali. The victory secured Superfluid the opportunity to implement their solution in a pilot with one of Africa’s leading multi-national companies. The victory was also a marketing coup, resulting in multiple interested inquiries and the solidification of several contracts for the company’s innovative services.
The resulting success rightly belongs to the Superfluid team whose tireless efforts at perfecting their platform and service offerings with GreenTec support have paid dividends. Following the company’s pivot, they are poised for even further growth in sales and well set up for international scale. Superfluid’s investors, GreenTec among them, are all vindicated in their choice to support the company.