XTXFX Business Plan — Go-to-Market
How borrowers are reached and converted, acquisition cost per funded loan, and the retention economics of repeat lending.
Go-to-Market
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- Overview & contents
- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. Market Context and Opportunity
- 3. Regulatory Framework and NCR Registration
- 4. Products and Pricing
- 5. SWOT and Competitive Position
- 6. Credit Policy and Risk Management
- 7. Technology and Operations
- 8. Go-to-Market
- 9. Governance and Team
- 10. Financial Plan
- 11. Funding Structure and Capital
- 12. Break-Even and Credit Sensitivity
- 13. Sensitivity and Scenario Analysis
- 14. Risk Management
- 15. Implementation Roadmap
- 16. Investor Returns and Exit
- 17. Key Performance Indicators
- 18. Key Assumptions
- 19. Conclusion
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Unit Economics and Volume Schedules
- C. Appendix C: Funding and Debt Schedules
- D. Appendix D: NCR Registration Checklist
- E. Appendix E: Risk Register
- F. Appendix F: Glossary
Customer acquisition is modelled at a blended R380 per newly acquired customer, with the new-customer share of lending falling from 74 per cent in Year 1 to 28 per cent by Year 5 as the book becomes repeat-driven. Repeat lending is the economic engine of the model: it carries near-zero acquisition cost and materially lower credit risk.
|
Channel |
Role |
Economics |
|---|---|---|
|
Performance marketing |
Search and social acquisition against high-intent keywords |
Highest volume, highest cost; disciplined cost-per-funded-loan targets by channel |
|
WhatsApp and referral |
Existing-customer referral with a compliant incentive structure |
Lowest cost per acquisition; strongest credit performance |
|
Employer partnerships |
Financial wellness offering to mid-size employers, introduced from Year 2 |
Very low acquisition cost, verified employment, materially lower loss rates |
|
Aggregators and comparison sites |
Lead purchase on a cost-per-funded-loan basis |
Scalable but adverse-selection prone; capped share of volume |
|
Retention and graduation |
Proactive pre-approved offers to performing Flex customers |
Near-zero cost; the primary source of Term originations |
|
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|---|---|---|---|---|---|
|
Loans disbursed |
6 550 |
20 600 |
39 200 |
57 500 |
75 000 |
|
New customer share |
74% |
58% |
44% |
34% |
28% |
|
Acquisition spend, R million |
1.8 |
4.5 |
6.6 |
7.4 |
8.0 |
|
Blended acquisition cost per loan |
R281 |
R220 |
R167 |
R129 |
R106 |
|
Direct cost to serve, R million |
0.5 |
1.6 |
3.1 |
4.6 |
6.0 |
|
Collections cost, R million |
0.4 |
1.3 |
2.7 |
4.2 |
5.8 |
|
Total variable costs, R million |
2.7 |
7.5 |
12.4 |
16.3 |
19.7 |