Trueflutter’s Co-Founder, Dare Olatoye
Trueflutter is a matchmaking app built for single Africans on the continent and in diaspora, in search of committed, fulfilling relationships. An online community of Single Africans in search of something real, make genuine and authentic connections. The App takes you beyond surface appearances with the use of audio bios to hear what a person sounds like and what’s important to them even before you connect. In this interview, Alaba Ayinuola speaks with Trueflutter’s Co-Founder, Dare Olatoye on his experience growing a Matchmaking brand, successes and challenges in Africa. Excerpt.
Alaba: Could you briefly tell me about yourself, business and the gap it’s filling?
Dare: My name is Dare Olatoye, I’m the co-founder of Trueflutter which is a matchmaking app for Africans on the continent and in diaspora
Alaba: What’s the inspiration for the business idea, and your vision for Trueflutter?
Dare: My sister got married for the first time when she was 47 years old. She met a great guy and they have a beautiful family. The interesting thing is that the person she married lived just 15 minutes away from her and had also been searching for a partner for many years.
Thinking about that, I realized this was a problem that technology could solve, which is why my brother and I set out to build Trueflutter.
Our vision is to provide a platform where single Africans can easily connect with highly compatible partners.
Alaba: What makes your brand USP stand out and how has the market responded to your products?
Dare: The major challenge people have with online dating is that most of the profiles have sparse or superficial information. Our platform helps you get a much deeper insight into a potential match with the use of Audio Bios and responses to carefully thought out prompts.
Alaba: How long has Trueflutter been in business?
Dare: We launched the MVP in September 2018 and had over 15,000 users sign up. That helped us gain valuable user insight which we built into the current version that was launched in January 2021.
Alaba: What are the key initiatives for the success of the business and great accomplishments?
Dare: To us success simply boils down to assembling a great team at Trueflutter and building a great community around the product. This means the most important thing we can do is listen to our users and ensure our product continues to evolve based on their feedback.
Alaba: Kindly share your most difficult moment in business and what did you learn?
Dare: Our founding team has always been very goal driven and when we set targets, we drive ourselves incredibly hard to achieve them. We had set a goal to launch the new platform on January 8th 2021 and had all our promotional partners ready to go.
However we experienced a serious setback in timelines with our development and ideally should have postponed the launch date, but we literally worked 18 hour days to still meet the timeline.
Unfortunately we launched prematurely, with quite a number of bugs on the platform. We have since resolved these but that premature launch meant we lost many of the early adopters of the platform. The major lesson is that it’s okay to release a product that is not yet perfect, with the caveat that users know it is still on beta (just like what Clubhouse did). Public launch dates should only be set when the platform has been stress tested by thousands of users and you know the user experience will be flawless.
Alaba: How has the COVID-19 pandemic affected Trueflutter’s growth and/or the user experience?
Dare: I think online dating is one of those few industries that thrived because of the pandemic. We saw an 820% spike in activity on our platform and a 270% increase in organic downloads. Our voice and video call features are also now used by more people with duration of calls at an all time high.
Alaba: What’s your favourite feature of the App so far?
Dare: Hands down it’s the Audio Bio feature, which also lets you reply with a voice note to users you like. People don’t actually realize how much your voice says about you, and when they listen to someone’s audio bio, it helps them easily decide whether or not they want to connect.
Alaba: Where do you see your brand in the next 5 years?
Dare: As the primary platform where single Africans on the continent and in diaspora meet.
Alaba: How do you feel as an African entrepreneur?
Dare: I am incredibly proud to see what my peers on the continent are doing. Despite the challenges of funding and infrastructure, we are beating the odds to build incredible products that are solving real problems. And the rest of the world is sitting up to take notice.
Alaba: Finally, what advice would you give entrepreneurs and investors in your industry?
Dare: To entrepreneurs, I would say every challenge is teaching you something. Every investor that walks away from your pitch meeting without investing, does so for a reason and if you find out why, it will make you better prepared for the next pitch.
Every customer that leaves a bad review is communicating a problem that thousands of other users are also experiencing, so you shouldn’t take it personal but embrace the feedback with gratitude.
For investors looking at the online dating space, few people realize how profitable it could be until they start diving into the numbers. But they also need to realize that it’s a long game, and like most consumer tech products, needs to be approached from the perspective of a long term investment. Trueflutter has been very fortunate to attract these kinds of investors.
Claire Rutambuka: Showcasing the beauty of diversity
Claire RUTAMBUKA is an entrepreneur and the creator of Akâna Dolls. Beyond her professional background in International Trade, she has always been passionate about the creation of small and diverse objects. During her early childhood in Rwanda, she was fortunate to have toys and in particular a doll that she cared very much about. It was not only a privilege to have a doll but even more so to have one with her skin color.
When Claire Rutambuka became a mother years later, she was surprised that she couldn’t easily find such a doll for her children that would showcase the beauty of little black girls. That’s how the idea of creating “Akâna Dolls” came about. Akâna is a word of Rwandan origin that can be translated as “little child”. It’s also a nod to the founder’s origins.
The brand was born from a mother’s desire to meet a need; namely, giving all children the opportunity to choose a doll they can relate to and adults an additional choice when it comes to gifting. After the first realization of the “Kaliza” doll, the ambition is to gradually expand the collection to include more skin shades and hair textures, so that every child feels represented.
Hakeem Abogunde: Building Slash, a solution for Africa B2B market
Hakeem Abogunde, CEO Slash Africa. SLASH is a decentralized B2B marketplace where buyers and sellers meet to facilitate and protect their transactions. Buyers can place orders and make payment into “Slash Account”. Slash will hold the fund until item(s) is delivered. In this interview with Alaba Ayinuola of Business Africa Online (BAO), Hakeem shares his journey into tech entrepreneurship and how he is building the solution for Africa’s B2B marketplace with Slash. Excerpt.
Alaba: To start with, could you share your journey into tech entrepreneurship?
Hakeem: Growing up as a kid, I was the type of guy who loved the internet. I spent most of my time reading, studying, and researching information and news on the internet. Most times, I would be on my computer from night till the next morning; that’s how attached I was to the internet space.
My journey as a tech entrepreneur started in 2005 when I dropped out of school to pursue my career as an entrepreneur. I joined my sister in her wholesale business at Lagos Island. During this period, I witnessed how people traveled from different parts of Nigeria to Lagos just to purchase products and resell them in their various locations. This journey was usually stressful, time-consuming, and costly. As an internet expert, I began to think of how I could use the internet to connect with these people and stop them from traveling to Lagos. Unfortunately, the internet wasn’t as popular then, and the only functioning platform available was Nairaland. On Nairaland, I would post some of our products and connect with a few people who were online at that time.
After a few years in the business, I joined a Multi-Level Marketing company where I led a team of over 500 sales reps. In the Multi-Level Marketing company, we usually went offline to meet with customers, sell our products to them, and get paid based on the sales volume. As an internet expert, to increase my team’s sales volume, I started selling the products online using different social media platforms. However, I later realized that most of these platforms were not efficient. It was then that I decided to build my own e-commerce website. Unfortunately, I didn’t know how to write code then.
So, I enrolled in a web programming course online, and as a fast learner, in less than 3 months, I was able to build our own e-commerce site from scratch. That actually increased our sales volume by 10 times. I started falling in love with programming and became a freelancer. I worked as a freelancer, developing mobile and web applications for both individuals and companies for 5 years. After, I decided to build a startup.
Alaba: You are currently building a solution for Africa’s B2B market through your venture, Slash Africa. Kindly tell us more and the inspiration behind it?
Hakeem: Slash Africa is a decentralized B2B marketplace that connects African retailers with suppliers globally and enables them to carry out secure transactions without any intermediary.
I got the inspiration when I was working with my sister in her wholesale business. I discovered a huge economic inequality between suppliers and retailers. For instance, one of the biggest problems Nigeria is currently facing is artificial scarcity perpetuated by most suppliers in other to increase the price of their products. This creates a market environment that heavily favors them, leaving retailers at a disadvantage. Having experienced this myself, I think now is the best time to democratize Africa’s wholesale market. This will give retailers access to varieties of quality products at very competitive prices and also save them more money and time.
Alaba: What sets Slash Africa apart from other Africa B2B market solutions, and how are you positioning it to become the go-to solution for Africa’s B2B market?
Hakeem: We are the first decentralized marketplace in Africa. We allow both small and big suppliers to list their products and enable direct interaction between suppliers and retailers, allowing them to define their terms and conditions of transactions without an intermediary. This will increase the level of trust and transparency and also gives everyone equal access to the market. Additionally, by operating on a decentralized fulfillment management system, we make our operation faster and minimize cost.
Alaba: What have been Slash Africa’s biggest challenges, and how do you overcome them?
Hakeem: Initially, our intention was to build a platform that enables everyone to create their own independent online store in minutes without coding. But we later realized that most suppliers/sellers, after creating their stores, didn’t have the money and skills to promote their stores. As a result, they didn’t make any sales and they would abandon their store. At that point, we decided to convert it to a marketplace, this enables them not just to create their stores but also connects them with potential customers.
Alaba: Raising capital has been one of the major challenges entrepreneurs face. How are you currently fundraising?
Hakeem: Raising funds as a local founder is very difficult if you don’t have any investor connections. Most African investors are not helping the situation either. Imagine this: because an African investor doesn’t know you, they won’t want to have anything to do with you. They also like to copy the US model. Technology in Africa is still at a very early stage, and the level of adoption is still very low compared to the US. Without local experience, getting people to adopt your solution will be very difficult, and this is where local founders have the advantage. So far, we have been funding our project through bootstrapping and support from families and friends.
Alaba: Can you tell us your impression of the current entrepreneurship and innovation ecosystem in Africa? How have you seen it transform in the last 5 years?
Hakeem: In the last 5 years, the entrepreneurship and innovation ecosystem in Africa has been growing rapidly. I see a lot of young entrepreneurs solving problems by leveraging modern technologies. But we need to work more in the area of getting people to adopt these solutions, and that is where local expertise is needed.
Alaba: What are Slash Africa’s priorities/plans for the year, and where do you see this venture in the next 5 years?
Hakeem: This year, our priorities involve raising funds, strengthening our team, scaling in Nigeria and reaching $1 million in monthly sales. In the next 5 years, we are projecting Slash Africa to hit $200 million in monthly sales and become the largest B2B marketplace in Africa.
Alaba: What is your advice to budding entrepreneurs aspiring to go into tech?
Hakeem: My advice to entrepreneurs aspiring to go into tech is to come with the pure intention to solve a problem and not just for the money. Because when you prioritize money, you won’t have the drive to build the business, and eventually, you will fail. Secondly, you also need to love the people you are building the project for because this will also be your driving force.
Alassane Sakho: The Senegalese Serial Entrepreneur
Alassane Sakho is a young and brilliant Senegalese entrepreneur, Telecommunications engineer specialized in the Technical-Commercial field, He founded KALIMO GROUP in January 2023, with the ambition to contribute to the development of Senegal. A graduate of ESMT in Dakar, Alassane is passionate about sales, ICT, Mobile Money and real estate. He began his career in 2010 with the Orange Money Senegal and Orange Business Service projects. Later, he joined large real estate companies as a commercial developer, (SIPRES SA, SENEGINDIA, TEYLIUM Group and the company Fimolux, where he held the position of General Manager of the commercial subsidiary.
Alassane Sakho has also supported many Senegalese and international companies in their development in Senegal, including Wizall Money, ATPS, MOODS, etc. Its vision extends beyond national borders, initially targeting West Africa, with projects planned in Mali, Gambia, Guinea and Côte d’Ivoire, before expanding to other parts of the continent.
Kalimo is involved in various areas of activity, including real estate development, digital communication, sales, rental and asset management, construction, training, advice and assistance. In addition, the company plans to enter the film industry, with its subsidiary K7film, which will produce short and feature films, animated films, corporate communication, documentaries, etc.
Apart from his professional activities, Alassane SAKHO is involved in sports, especially football. He coaches youngsters from 8 to 20 years old and has the honour of winning the “Universal Youth Cup” tournament in 2019 in Italy, against big clubs such as Inter Milan, Ajax Amsterdam, Atletico Madrid and AC Milan. Its main objective is to consolidate Kalimo’s presence in Africa and to help foreign companies wishing to set up in Senegal.
Finally, its digital team is ready to help companies or public figures increase their notoriety and visibility on social media. Other areas of activity, such as agribusiness and mass distribution, are currently being explored.