Executive Summary
The Opportunity at a Glance
2023
Founded
Nairobi, Kenya
$3M
Raise Target
36-Month Repayment
5
Business Units
Directory · Agency · HR · Popote · Trade
$83B
TAM (USD)
Kenya Digital Economy (2026)
More Business is not just a classifieds platform, it is a business growth engine for Kenyan entrepreneurs. In a market where over half of businesses lack effective online presence, More Business provides a centralised, affordable, and data-driven platform that connects businesses directly with ready-to-buy customers. By combining business listings, digital marketing, and targeted promotion, the platform enables SMEs to move from invisible to discoverable, and from discoverable to profitable. At its core, More Business exists to simplify business discovery, strengthen local enterprises and make visibility a direct path to growth.
Investment Use
Technology build-out (35%) · Market expansion, 10 counties (25%) · Sales & marketing (20%) · More HR AI platform (15%) · Working capital (5%)
The Problem
Pain Points We Solve Across Kenya
Fragmented Business Discovery
80% of Kenyan SMEs have no verified online presence. Customers can't find businesses; businesses can't find customers. 7.4M registered SMEs in Kenya, only 20% have online presence.
Broken HR & Talent Pipeline
Youth unemployment at 35%+. Middle East employers struggle to find vetted Kenyan talent. Recruitment is slow, manual and costly.
Untapped Youth Workforce for Marketing
Over 5 million underemployed youth with no structured platform to monetise their local market knowledge as marketing agents.
Zero Business Intelligence for SMEs
SMEs make decisions blindly, no access to competitor analytics, consumer sentiment, or market intelligence tools.
Our Solution
Five Integrated Revenue Verticals
more.co.ke
Premium Business Listing Directory
- •Verified SME profiles, reviews & rankings
- •Business intelligence & analytics dashboards
- •Subscription + performance ad revenue model
- •County-level coverage across Kenya
More Agency
Digital Marketing & Growth Services
- •Social media management & content creation
- •Sponsored ad campaigns on Google & Meta
- •Event promotion and brand activation
- •Reporting, analytics & performance tracking
More HR Connect
AI-Powered Talent Placement Portal
- •AI matching: Kenyan talent to Middle East employers
- •End-to-end recruitment workflow automation
- •Visa, compliance & onboarding support
- •Commission + SaaS subscription model
More Popote
Nationwide Affiliate Marketing Engine
- •Youth agents earn by promoting listed businesses
- •Geo-targeted campaigns across 47 counties
- •Performance-based payout per verified lead/sale
- •Expands our sales force at near-zero fixed cost
More Trade Portal
B2B/B2C Global Trade Marketplace
- •Connect global manufacturers & suppliers to Kenyan buyers
- •Bulk ordering from China, Europe, America & beyond
- •Secure checkout: M-Pesa, card, PayPal + logistics
- •Commission on sales + subscription revenue model
Market Opportunity
TAM · SAM · SOM across Kenya & East Africa
TAM, Total Addressable Market
$83B
Kenya digital economy projected value (2026)
SAM, Serviceable Addressable Market
$12M
SME listings, digital marketing & cross-border HR services
SOM, Serviceable Obtainable Market
$3.2M
Realistic 3-year capture with current product & team velocity
73.2M mobile devices connected in Kenya (139.7% penetration, 2025) · Active social media users: 15.1M+ · MSME count: 7.4M+ · MSMEs contribute ~40% of national GDP.
Business Model
Multiple Revenue Streams Across All Verticals
Directory Subscriptions
Basic / Pro / Premium tiers, monthly & annual plans
Digital Marketing Retainers
SEO, social media, content creation, paid ads management
More HR Placement Fees
Per-placement commission + employer SaaS subscription
Business Intelligence Reports
Market analytics, competitor benchmarks, consumer insights
More Popote Agent Network
Revenue share on leads/sales generated by field agents
Advertising & Sponsorships
Banner ads, featured listings, sponsored content
Traction & Milestones
Progress since launch: June 2023
Company Founded
more.co.ke launched, first 50 listings onboarded in Nairobi
First Revenue
Paid subscriptions commenced; first digital marketing clients acquired
More Popote Beta
50 field agents recruited across 1 county (Nakuru); Popote engine launched
More HR Concept Validated
Signed LOI with 2 Middle East recruitment partners; AI matching prototype built
Scale Begins
15,000+ listed businesses; 5,000+ daily visitors; expanded to 5 Kenyan counties; team of 20+
Investment Round
Target: 50,000 listings, 47 counties, More HR live, Popote 1,000 agents
Financial Projections
3-Year revenue, EBITDA & repayment schedule (USD)
| Year | Revenue | Costs | EBITDA | Margin |
|---|---|---|---|---|
| 2026 | $480K | $408K | $72K | 15% |
| 2027 | $1.42M | $1.07M | $354K | 25% |
| 2028 | $3.2M | $2.18M | $1.02M | 32% |
Repayment Schedule
Year 1: Interest only, $300K/yr
Year 2: $1.05M principal + interest
Year 3: $1.95M final + interest
Break-even projected: Q1 2027 · ROI: 20% over 36 months
Revenue Growth Trajectory
Quarterly revenue projection 2025–2027 (USD)
Assumes investment deployed from Q1 2026 · More HR revenue begins Q2 2026 · More Popote scales from Q3 2026.
Competitive Landscape
Why More Business Wins
| Feature | More Business | JIJI Kenya | BrighterMonday | Yellow Pages KE |
|---|---|---|---|---|
| Verified Business Profiles | Partial | |||
| AI HR Matching (Middle East) | ||||
| Affiliate Agent Network | ||||
| Business Intelligence Tools | ||||
| SME-focused Pricing | Partial | |||
| County-level Coverage | 10 target | Urban only | ||
| Content Generation Service |
More Business is the only Kenyan digital platform combining business listings, AI HR, affiliate marketing AND business intelligence under one ecosystem.
Use of Funds
USD 3,000,000 allocation breakdown
Platform v2, More HR AI engine, mobile apps, API infrastructure, security
County offices, field teams, local partnerships, on-ground SME acquisition
Digital campaigns, brand building, enterprise sales team, trade events
AI matching engine, Middle East partner integrations, compliance systems
Payroll bridge, legal, accounting, office infrastructure, contingency
Repayment Plan & Investor Returns
USD 3M at 10% p.a., 36-month structured repayment
| Period | Obligation | Principal Repaid | Interest | Cumulative Repaid | Source |
|---|---|---|---|---|---|
| Year 1 (2026) | Interest Only | $0 | $300,000 | $300,000 | Operating revenue |
| Year 2 (2027) | Principal + Interest | $1,050,000 | $195,000 | $1,545,000 | Revenue + EBITDA |
| Year 3 (2028) | Final Repayment | $1,950,000 | $105,000 | $3,600,000 | Revenue + reserves |
| TOTAL | $3,000,000 | $600,000 | $3,600,000 | 20% total return |
$3M
Total Investment
$600K
Total Interest
$3.6M
Total Returned
20%/36mo
Investor ROI
Leadership Team
Experienced operators across technology, marketing & HR
Mahat Abdi Dore
Director / Founder
Strategy & Vision
10+ years in digital marketing & business development. Deep SME market experience across East Africa.
Willice Onyango
CTO / CEO
Technology & Product
Full-stack engineering leader. AI/ML background. Previously built platforms serving 100K+ users.
Dan Kimei
Head of Sales
Revenue & Partnerships
B2B sales expert. 5+ years driving SME adoption across Nairobi, Mombasa and upcountry markets.
Moses Kwareba
More Popote Manager
Affiliate & Field Ops
Youth empowerment background. Managed 200+ field agents. Mobile money & informal economy expert.
Valentine Muthoni
CFO / Finance Lead
Finance & Compliance
CPA (K). Prior experience in startup fundraising, financial modelling and investor reporting.
John Henry
Software Developer
Engineering
3+ years in backend & frontend development. Python, Next.js, TypeScript specialist. Co-engineered the MoreHR platform.
Phestus Kitsao
Software Developer
AI & Engineering
Full-stack developer with GIS background. Built AI recommendation system, chatbot agent, and SEO automation tools for More.
Salman Roble
Software Developer
Engineering
Frontend-focused full-stack developer. React, TypeScript, Django. Builds responsive, high-performance web applications.
Collins Otieno
Full Stack Web Developer
Engineering
React & Laravel specialist. Builds immersive, high-performance web apps with a keen focus on UI/UX and AI-assisted development.
Risk Analysis & Mitigation
We know the risks. Here's how we handle them.
Market Adoption Speed
MediumMore Popote agents provide boots-on-ground onboarding, reducing friction for SME sign-ups.
Technology Execution Risk
MediumPhased tech rollout. MVP-first approach. CTO with proven delivery track record.
Regulatory / Compliance
LowData Protection Act compliance from day one. Legal advisor retained. Middle East HR licensed.
Talent Acquisition (More HR)
MediumExisting partnerships with TVET colleges and diaspora networks de-risk talent supply side.
Investor Repayment Risk
LowDiversified revenue (6 streams). Conservative projections. Year 1 interest-only cushion.
Competitive Disruption
MediumEcosystem lock-in across 3 products. First-mover in AI HR for Kenya-Middle East corridor.
The Ask
USD 3,000,000Investment
Repaid in full over 36 months at 10% p.a. Total return to investor: USD 3,600,000
What you get as an investor:
$3M
Investment
$600K
Total Interest
$3.6M
Total Returned
20%/36mo
ROI
Let's build Africa's digital commercial infrastructure together.
invest@more.co.ke · more.co.ke · Nairobi, Kenya