Informal sector traders across Africa are often excluded from the traditional financial system. Recognizing this issue, tech entrepreneurs have developed innovative solutions to offer alternatives to conventional financial institutions.

Proboutik is a fintech solution developed by Senegalese startup ProXalys to transform the way informal sector traders manage their financial operations. Launched in 2021 by Thierno Sacko and Abdoulaye Faye, Proboutik enables local merchants to digitize their financial transactions, bringing them into the fold of modern financial systems.

In January 2024, ProXalys raised $500,000 to support the growth of Proboutik. The mobile application, available on both iOS and Android, has already been downloaded over 10,000 times from Playstore. Users can register with their phone numbers and access various financial management services. These include cash flow management, customer portfolio management, real-time tracking of receivables and payables, automated payment reminders via SMS, and the generation of account statements and reports.

"The application records all your deferred payment transactions, ensuring transparent traceability and better management of your business operations," explains the startup. Additionally, Proboutik offers financing to users based on the credits they have extended to their customers. This feature aims to facilitate business growth and prevent financial strain for traders.

Proboutik provides two subscription options: a monthly plan priced at 990 CFA Francs (approximately $1.63) and an annual plan at 10,000 CFA Francs. On May 23, Proboutik was selected, along with 19 other African fintechs, for the second cohort of Visa's acceleration program. 

Adoni Conrad Quenum