The Best Drivers. Anywhere. Anytime.

Investor Deck
DRYVA
A professional driver on
demand service.
 Quick Snapshot

OFFER Breakeven Profit Glidepath

15% Equity
Mth 6 YR 1

YR 5 Profit

~$700,000 Fiscal Year

 The Goal.

10,000 Drivers
Deployed / Engaged in 5 Years

460,000
Vision
To become the largest on-demand,
verified driver sourcing platform in
Nigeria in 2 Years
Daily Intrastate Trips in 5years
(aggregate)

58,000
Interstate Trips in 5years
(aggregate)
 The Challenge.
Getting a verified Driver is Nigeria is tough particularly for individuals

Lengthy Process, which is Flexibility (Extreme difficulty Benefits

1 repeated when you lose the Driver 2 getting a Driver for short term use)
3 Administration

Most car owners tell a friend to tell a friend Administering Driver

1 Day Only benefits is
Mr. cumbersome.
E
Mr. Mr.
1 Week Only
F D
CAR
OWNER 1 Month Only
Mr. Mr.
A C
Mr. Interstate Only
B

avg. 2-5 weeks

 The Challenge – User Deepdive
Key Issues DRYVA Solution
Getting a Driver takes a long time, and still no guarantee Get a Driver Same Day / 24hours

Proximity to where car owner lives (finding a driver in the Find Drivers in your area in 1 Click
same area is the biggest need)

Background check is paramount, but many don’t know Only verified drivers on our platform
how to go about it, and do a poor job at it by themselves

There is hardly available driver history Choose Your Driver, See his/her rating

Driver scheduling is handled manually in the industry today.

You have to call the Drivers in the pool to find who’s Less Operational complexity with DRYVA
available. app. Better structural economics.

Car owners want to ride in the comfort of their cars, e-

hailing taxis do not offer the right level of comfort, and for Ride in Your Own Car
long hauls, become ineffective and expensive

Getting a Driver for interstate travels is difficult. No player

offers that as a service. Interstate Drivers available
 The Challenge – Driver Deepdive

Key Issues DRYVA Solution

Job Proximity to where Driver lives, distance escalates costs
Get jobs in your area
and reduces take home pay.

Benefits other than Pay HMO, Life Insurance, Cooperative

Work Flexibility Go full time or part time

Ability to choose type of driving engagement: Intrastate or

For the Part time Drivers
Interstate
 User Benefit

Save Time Save Money Always Travel with your

− Getting a
Driver only
− No need for accommodation Available Pool car anywhere in
takes hours, as − No multiple fees on
− Reduced
transaction time for
Nigeria
low as 3 hours background checks each time − You car becomes the
company as Drivers
you change a Driver best means of
are on the app
transportation.
− Free driver replacement
− Get a Driver for only how long
you need it.
 DRYVA Proposition

GET A
Verified, Professional
Driver
in

24Hrs  No Paper Work.

 No Hassles.
 No Extra Charges

Interstate Travel
(Our Drivers cover the 36
states of the Federation)
− Business Trips where you
need your car + driver in
the destination city or just
drop offs (one-way)
− Vacation with family,
saving plane cost, and
better comfort vs. public
buses
Use Cases
Short-Term/Flexible Bookings Long Bookings
1-Week 1 Month 1-Day Long-Term
− Short stay in Lagos
− You don’t need a − Full day of hopping Typical driving
− A week you just Driver every month across Lagos, running contract,
don’t want to drive of the year deliveries, or shopping permanent hires
yourself
− E.g. Only need a − Hospital appointments
− Book for expat visits Driver when the for elderly parents
kids are in session
− Car Pooling rotation
at work
− A day you just don’t
want to drive
 Target Market / Key Segments

Individuals Corporates Schools E-hailing platform partners,

fleet companies
 Landscape
 90% of the structured driver sourcing players/market are focused on corporates (mostly large
corporates / multinational accounts)
 This leaves an under tapped individual segment, MSMEs, and yet there remains some opportunity to
win with large corporates. Younger players are starting to make moves here. No brand has TOMA!!!

Split of the Structured Driver Sourcing

Supply Market
Individual
10%

Corporate
90%
 Key Competitors
Corporate focused

Offline Transaction Online Transaction/ On-Demand

Individual focused
A few companies are now starting to attempt to capture the individual market, but at very low scale.
 Biggest Bets/Competitive Advantage

First to Market Scalability Ease of Use

For 100% on-demand, app Our technology makes it easy Getting a Driver just got
based, flexible driver sourcing. for us to recreate this in other extremely easy.
markets.
 Market Problem / Current Solutions
The individual segment is a tougher nut to crack:
 Flexibility of Bookings (current competitors / approach mostly require long term contracts)
 Ease of replacement (our model makes it easy to replace a Driver at no cost to DRYVA)
 Operational demand (the few who manage individual transactions do so manually, hence
escalating the costs)
How Long Proximity Flexibility Security Replacements High Cost Replacements

TODAY 2 Weeks and Proximity not Mostly Verified if via Drivers are Separate Limited/Not
above Guaranteed permanent hires agency Employees Fees for Free
Not verified if hence limiting Background
sourced pool Check,
personally HMO, and
Pension

DRYVA 24 Hrs / Same Proximity Flexible 100% Verified Drivers are One Fee Unlimited/Free
Day Guaranteed Bookings Driver contractors (which
 1 Day (giving room covers
 1 Week for part-time Background
 1 Month and full time checks,
 Interstate work), and Driver HMO
 Weekend reducing our & Life
Only cost Insurance),
 Long Term no pension
 Market Pricing

EXISTING PLAYERS (Multiple Payments) DRYVA (One Payment)

Background Check Fees – up to N20,000 DRYVA Rate Only
before use One-Fee Covering
PRICE POINT CHARGES & FEES

Pension (if applicable) − Background check, health screening &

driving tests
HMO − Driver benefits (HMO, Life Insurance)
Driver Salary − Driver Pay
− DRYVA commission
Company commission
2 classes in the market:  Price points range from N45,000 to N100,000
 Price points range from N45,000 to with differentiated features
N100,000 with driver benefits & screening  No extra payments required for driver
RANGE

costs charged separately benefits & background checks

 Min. N65,000
 Brand Opportunity

There is no DOMINANT
brand.
DRYVA can easily
become #1 Top of
Mind Brand
 How DRYVA Works

Gets on the App,

User needs a Driver accepts
finds a Driver within Driver Resumes
Driver the booking
location& requests
How DRYVA Works - The App
 How DRYVA Works – Back End
All DRYVAs are pre-verified before being onboarded on the platform.

Interviews &
Background Health Training &
Aptitude Driving Test
Checks Screening Onboarding
Test

− Guarantor verification (2
Guarantors)
− Address verification
− Criminal records check
− Driver’s License verification
 Service Agility

Given the demand of corporate market segment and some individuals, we have made room for offline
bookings, via a dedicated booking desk. We anticipate 30% offline requests despite technology

70% 30% Online Offline

 Technology

Mobile Phone Payment Gateway Android No Cash

+ GPS integration (Launch with Android,
and learn)
Paystack
(Full pre-payment &
deposit model depending
on trip types)
 Market Size
Our goal is to be a clear market leader in the individual segment, Top 3 in the corporate segment,
and No. 1 brand for interstate travel.

Interstate Travel Intrastate Market DRYVA Annual Revenue- YR 5

$11M
Market Size* Size

NATIONAL NATIONAL
$735million $417million
Gross Revenue

LAGOS*
$280million
LAGOS*
$104million
$2.2M Net Revenue
(excluding Driver’s Pay)
*This is domestic air travel passenger data as shared by National Bureau of Statistics. A good amount of interstate
requests will come from those seeking alternative to air.
**Originating out of Lagos to other states across the country
***Based on 50% of car owners with cars 0-11years old, Lagos is estimated at ~25% of Nigeria Vehicle population
 Target Cities

Year 1 Year 2 Year 3 – 5

Saturate Lagos Saturate Abuja Expand to 3 to 4 other

African Countries*
 South Africa
 Kenya
 Egypt
 Morocco
 Ghana

*Africa expansion plan not captured in the targets, projections, financials and valuation. This is an
upside opportunity for seed investors.
 Go-To-Market Strategy

 We’ll pursue aggressive growth in the individual segment and gain #1

Targeting Top-of-mind position. Also become #1 SME Driver brand. (Priority 1)
 Concurrently, we’ll make inroads into the big corporates (Priority 2)

Strategic  Background check agency

 Insurance Partners
Partnerships/  HMO Partner
Channel  Nigeria Police Force

 Focus: PR/Events, Digital and minimal OOH (only in M1 to drive rapid

awareness)
Marketing  Appear BIG and POPULAR from Day 1
 Drive WOM through service quality, and thorough recruitment

 Ease of Driver Replacement: Free replacement

Customer  Driver rating system to enable us improve service quality
Retention
 Progress to Date

 Dryva.com.ng locked, website at 70% completion

 Dryva mobile app at 70% completion

 Paystack account created

 Dryva trademark filed

 Office secured (includes in-house training room that covers capacity over the
next 2 years)

 Secured partnership with a background check company

 Secured partnership with HMO company and Insurance company

 Digital ads completed (30sec, and 5-seconder bumper ads)

 Offline pilot run over 8 weeks

 Launch Plans & Key Milestones
Apr-Jun ‘19 Jul ‘19 Aug ’19 Sep ‘19 Q4 ’19 Q1 ’20 Q2 20 Q3 20 Q4 20 2021

Funding LAUNCH
Round LAGOS! Raise
LAUNCH Financing
Driver Product Launch for Africa
Recruitment ABUJA! Expansion
1.0

Complete
App Dev
Run PILOT/
App Dev
Finalize 3,800 Drivers
Marketing
Plans

Breakeven!

250 Drivers
Recruited

Ongoing Product Refinements

 DRYVA Business Model: Structural Financials

Commission Per Driver Booking Gross Margin*

20% 10%
6.4% Profit After Tax

*Gross Margin % refers to GM as % money received from user (i.e.Gross Revenues before deduction of driver payments)
 DRYVA Business Model: How We Make Money

P&L KEY ITEMS % SPLIT

GROSS SALES Client Pays 100%
Operating Principles
Driver Pay 80%
− Drivers are always assigned by DRYVA INCOME SPLIT DRYVA 20%
and so managed Commission (Net
Sales)
− Client gets a free replacement in the
event where they need a change, as Driver Benefits - 10%
many times (HMO/Insurance),
COST OF SALES Background
− DRYVA gets paid, and in return pays Checks, Driving
the Driver Tests & Screening
− Customer purchase cycle is daily, GROSS PROFIT Net Commission 10%
weekly, monthly (Margin before (Gross Profit)
OPEX)
 Potential Profit / Revenue Optimizations

Over- Charge net

19%
delivery on # Eliminate life Commission
of Drivers or insurance rate of 10-
2.2% GM
utilization 15% from
rate
Improvement 90g
corporates*

*Corporates usually provide benefits, and therefore we would just get outright commission. Value add is pre-
screening, driver management & replacement
 5-YR P&L Forecast
Y1 Y2 Y3 Y4 Y5
# of Drivers 3,000 5,400 7,800 9,000 10,000
Total net revenue* USD 299,501 832,153 1,361,441 1,802,893 2,161,872

Total COS** USD 130,913 344,648 542,604 694,396 798,990

Gross profit USD 168,588 487,504 818,836 1,108,496 1,362,882

Total OPEX USD 129,182 208,814 230,739 276,485 326,741

Earnings before tax USD 34,889 271,395 565,871 809,008 1,013,138

Taxation USD 11,164 86,846 181,078 258,882 324,204
Earnings after tax USD 23,724 184,548 384,792 550,126 688,933

*Revenue excluding Driver payments, **Cost of Sales (COS)

 Business Glidepath on Key Metrics
Cumulative No. of Drivers Per Year Employee Headcount Progression
12,000
10,440 19 19 19 19
10,000 9,240
8,040
8,000
5,640
6,000 11
3,000 9
4,000

2,000

-
YR 1 YR 2 YR 3 YR 4 YR 5
No. of Drivers
H1 YR 1 H2 YR 1 YR 2 YR 3 YR 4 YR 5

Breakeven by 5-Year Breakeven Analysis

80,000
5th month

60,000
USD ($)

40,000

20,000

-20,000

-40,000
Period
 Investment Offer

$300,000 15% Equity*

*NOTES
 Company currently valued at $3.1million ($300,000 is 10% + 5% premium)
 Income projection used for valuation does not factor income from expansion
outside Nigeria, therefore giving upside potential to current investors
 We see potential to achieve the numbers in Lagos only (without Abuja operations)
 By end Y2, seek financing for expansion, revalue at that point
 Min. 1 investor, max 6 investors (Minimum of $50,000 per investor for multiple
investors)
 Uses of Funds

Funding will be invested in demand generation / operations, as the product is nearly completed.

1. Marketing/Demand Generation
− Generate awareness, trial and adoption

2. Recruitment to expand the team (lean strategy)

− Finance & Accounts (to lead payments, reconciliation, benefits administration and tax
management)
− Marketing (to lead end to end corporate acquisitions and order fulfilment)
− Digital (to lead content strategy, development and community management), and external
contract digital media buying expert to drive hard negotiations and best deals
− Call Centre/Front Office Personnel (to manage front office, customer relations)
− Marketing & Operations analyst (for data analytics)
− Ongoing software maintenance and improvements

3. Initial cover for screening costs and benefits cover / OPEX for first 18-24mths of launch
− Drive Abuja expansion

Toyin Sanwo
FOUNDER/CEO
Extensive product design/
development and brand
marketing experience. Prior to
starting Dryva, worked at Procter &
Gamble as Brand Manager, Fabric
Care Category, West Africa. Also
worked at Accenture Consulting
as a Strategy Consultant.
Our Core Team
Celestine Omin
CTO
Extensive Software Development
across Nigeria and the United
States.
He has worked at Paystack as
Engineering Manager, Andela as
Senior Technical Consultant, and
Konga Software Engineer.
Eric Onyekachi
OPERATIONS
Human Resource and Operations
expertise. Prior to Dryva, worked
at NOVUS where he led driver
recruitment and management
across Nigeria.
If you'd want to invest in DRYVA, please reach out to:

Toyin Sanwo
+234 803 910 4507, +234 805 022 1451
Sanwo.oe@yellowjaspers.vc