Simplify’s Imbeju Journey

“Tax compliance should not be a burden, and that’s why we created Simplify,” says the founder of Simplify, a software solution designed to integrate with the Tanzania Revenue Authority’s (TRA) data management system, allowing users to generate virtual EFD receipts with ease. The idea for Simplify came from a desire to solve tax compliance issues that many businesses in Tanzania face, ensuring they could meet their obligations without complex systems or manual processes.

However like many start-up businesses, Simplify faced a couple of challenges when it came to funding. Without a credit score, the company struggled to qualify for capital from traditional financial institutions. Simplify found itself needing resources to overcome operational hurdles and scale its business. That’s when they discovered the Imbeju Program, supported by the CRDB Bank Foundation.

What stood out about the Imbeju Program for Simplify was the training offered by the Imbeju Program for their team was a major factor, providing essential skills in areas like financial literacy and business management that Simplify’s leadership needed to drive growth.

The seed funding of TZS 30,000,000 helped Simplify invest in resources that enhanced both their operations and team. They were able to purchase new office furniture, mobile printers, and laptops for their developers, improving their workspace and the tools they needed to continue innovating.

With the support from the Imbeju Program, Simplify achieved growth. Their revenue nearly doubled, growing from TZS 139,000,000 to TZS 240,000,000, showcasing the direct impact of the funding and the strategic improvements made. The association with the CRDB Bank Foundation also elevated their credibility, opening doors to new business opportunities. Simplify was able to secure additional financing through partnerships with other grantees, as well as a favorable overdraft facility with CRDB Bank.

The funding allowed Simplify to grow its team as well. They expanded their staff from 4 to 9 employees and were proud to hire 2 women developers, contributing to gender diversity in the tech space. The support from the Imbeju Program also helped Simplify access a larger market, including CRDB Bank Foundation’s customers and stakeholders, which has been useful in their growth.

As Simplify continues to grow, they do not forget their roots. The company has been supporting the start-up ecosystem by offering internships, training sessions, and tax awareness programs to aspiring developers and businesses. By sharing their knowledge, they are helping to create a more strong entrepreneurial ecosystem in Tanzania, showing the broader impact of the Imbeju Program on the value chain.

Today, Simplify brags about a growing list of top clients, including Air Tanzania, Oryx Gas, and CCBRT, with plans for future expansion. Looking ahead, the company projects a 50% increase in revenue by 2025. They also plan to launch more products to meet the evolving needs of their clients and continue growing their impact on the business community.

“Simplify’s journey has shown us that the right support and resources can propel a small business to new heights,” says the founder. “The funding and mentorship from the CRDB Bank Foundation have been extremely useful, and we are excited for what the future holds.”

Through the Imbeju Program, Simplify has become an example of how the right combination of funding, mentorship, and resources can empower a start-up to not only grow but also make a positive impact on its industry and community. With a clear focus on innovation and social responsibility, Simplify is assured for continued success and is committing to supporting the next generation of entrepreneurs in Tanzania especially in the tech space.