Co-founders Mary Miner and Kate Woska are first time entrepreneurs and the inspiration behind Atikus Investments Incorporated. They chose Rwanda as the perfect place to start their business because the country is serious about financial inclusion and developing at a rapid pace. Atikus develops meso-level interventions committed to democratizing opportunity and improving financial inclusion for un(der)served demographics, among which women, youth, and rural/agricultural workers are core groups.
LoA spoke to Mary Miner about their vision for the business and their aspirations for improving financial inclusion and access to finance in Rwanda.
What does your company do?
Atikus develops meso-level interventions committed to democratizing opportunity and improving financial inclusion for un(der)served demographics, among which women, youth, and rural/agricultural workers are core groups. We intend to achieve these goals through a suite of products that leverage technology, data, and risk transference in an effort to reduce lenders' investment constraints and facilitate the introduction and acceptance of more un(der)served clients to the formal financial services industry.
"We realized that development efforts to improve access to credit fall short if lenders cannot grow without proportionally increasing their risk. And so Atikus was born...."
What inspired you to start your company?
At the start of our journey, we discovered that lenders around the world have a sincere desire to grow their loan portfolios, but do not have access to well-designed, affordable solutions to help manage their risks. We realized that development efforts to improve access to credit fall short if lenders cannot grow without proportionally increasing their risk. And so Atikus was born...
Why should anyone use your service or product?
With guidance from lenders around the world, we designed a suite of solutions aimed at enabling safe and controlled portfolio growth. Whether our lender clients are seeking to better manage their credit risk exposure, digitize loan application processes, or streamline new client outreach, Atikus' solutions are powered by world-class algorithms and modern technology inputs, all of which are specifically tailored to fit their needs. At Atikus, we prioritize dedicated client service and the highest level of protection for borrowers.
"Starting Atikus has allowed me to build on my work in microfinance and pursue targeted, meaningful impact that I believe will change the sector for the better."
- Mary Miner
Mary Miner (L) and Kate Woska (R)
Tell us a little about your team
The team is represented across disciplines. Atikus’ co-founder and CEO Kate Woska previously worked for Citi Bank designing tech enabled financial solutions, our CFO, Bob Hughes, has over 30 years of experience working in insurance, both in the United States and internationally for industry leaders Cgina and Aetna. Noel Nyabanganyimana, Atikus’ Head of Business Development, has experience working with public and private institutions across multiple industries in Rwanda. My background is in microfinance. I previously worked for CRAN microfinance in Ghana, focusing primarily on the banks credit with education product.
Share a little about your entrepreneurial journey. And, do you come from an entrepreneurial background?
Kate Woska and I are first time entrepreneurs. With a passion for access to finance in developing and emerging markets, we decided to start Atikus. Rwanda is the perfect place to start our business because the country is serious about financial inclusion and developing at a rapid pace. We love what we are doing and where we are right now.
"Bridging the demand-and supply-side of credit, Atikus is furthering micro, small and medium enterprises in ways not previously possible."
What are your future plans and aspirations for your company?
In 2016 Atikus will run a twelve month pilot in Rwanda. Post pilot, Atikus will launch full scale operations across Rwanda targeting the country's 516 micro, small and medium enterprise lenders as well as explore new market opportunities. Future markets are currently being considered across Africa and other regions.
What gives you the most satisfaction being an entrepreneur?
Being the change I would like to see in the world. Starting Atikus has allowed me to build on my work in microfinance and pursue targeted, meaningful impact that I believe will change the sector for the better. From my passion for financial literacy, Atikus developed a technology platform that links graduates of financial literacy and business skills development training organizations to lender clients in the Atikus network. Bridging the demand- and supply-side of credit, Atikus is furthering micro, small and medium enterprises in ways not previously possible.
"Starting a business is challenging but equally rewarding. Keep at it! Everything takes longer than you think it will"
- Mary Miner @AtikusInv
What's the biggest piece of advice you can give to other women looking to start-up?
Starting a business is challenging but equally rewarding. Keep at it! Everything takes longer than you think it will but the amount you will learn about business and yourself along the way will change your life - at least it has for me.
Contact or follow Atikus
WEBSITE | FACEBOOK | TWITTER | INSTAGRAM | EMAIL mary.miner@atik.us
Why LoA loves it….
At LoA, we love those real gamechangers in Africa’s entrepreneurial landscape, and particularly when it comes to addressing the challenging issue of improving the access to finance for women-owned startups on the continent. The Atikus business model is one that could tangibly further the growth and success rate of Rwanda’s micro, small and medium enterprises in the short-term, and improve access to finance for women entrepreneurs across the continent in the long-term. --- Melanie Hawken, founder and editor-in-chief of Lionesses of Africa