Namibia’s Cylon Accounting is among nine African startups that have been selected by Startup Wise Guys for its accelerator program, securing N$1.1 million (65 000 euro) in funding, with potential of securing an additional N$4 million (250 000 euro).
To get an understanding of what the development means for the fintech business and the Namibian startup space, The Brief (TB) caught up with Jessé Liula Schiceya (JLS), founder of Cylon Accounting and below is an extract of the interview.
TB: May you briefly tell us about Cylon Accounting?
JLS: Cylon Accounting is an accounting software (Fintech) business that was founded in October 2021, to solve two major challenges most small business owners, freelancers and entrepreneurs are currently faced with, being the lack of accounting knowledge to manage finances properly and not being able to afford the services of an Accountant
Not everyone has the financial knowledge to understand accounting and it can also become very messy.
TB: Who is the brains behind Cylon and what inspired you to start the venture?
JLS: Cylon Accounting was founded by Jessé Liula Schiceya, born in Windhoek and completed high school and University in Cape Town, South Africa. I studied Computer Systems and have been an entrepreneur since 2014. Cylon Accounting was inspired by personal struggles I had as an entrepreneur and during the period of being self-employed I learned that many entrepreneurs struggle with the same issues that I did and because most of the accounting tools are not local, meaning southern African. I got to work and here we are today.
TB: How does lack of accounting skills affect businesses?
JSL: Accounting is the spine of any business or individual and in order to live a better life, one must have their books in order. With this great financial system/tool (Cylon Accounting), any business can make the right investments and easily grow his/her business with ease, have access to bank loans, have the ability to pay taxes accurately, and better manage their income and expenses.
TB: How has the journey been thus far and how many people are currently signed up for your service?
JSL: Since we launched, we have had a great number of various businesses and entrepreneurs signing-up. The feedback we usually get is “I love this accounting software and because it is local, it makes our life easier”. Within the next quarter, Cylon Accounting will have some major upgrades.
TB: Your company was recently selected by Startup Wise Guys, with funding of 65 000 euros to be made available. What does this mean for the Cylon?
JSL: What this means for us is that a door has been opened and now we can reach our goals faster. Startup Wise Guys, have us in an accelerator program, so it’s not only investment but also high-level training that they are giving us. In my own words, I call this program university for founders because they are teaching us everything we need to know in order to excel. By us I mean myself – Jessé Liula Schiceya CEO & Founder – and my great leadership team that consists of Silvi Shilikomwenyo- Marketing and PR Manager, Melody Tjihoreko- Accounting and Finance Manager, Eddy Goreseb- Customer Support and HR Manager and Killian Hakwenda- Product Manager.
TB: Where does this place you as a business?
JSL: Growth! Growth, because now we can give more jobs to bright, hardworking, and creative individuals. We can improve the financial situation for many new and old business owners/entrepreneurs by providing a local tool for income, expense management, tax submissions, and access to bank loans.
TB: What can we expect from the business going forward?
JSL: A lot will be happening in our first year of business in the southern African region. I would rather not share much here, but rather have our actions speak for themselves.
TB: Lastly, what is your comment about the Namibian startup environment and the ability to secure funding?
JSL: When looking for an environment to learn, grow and secure funding, your go-to place is Startup Namibia, thereafter if your business idea is feasible, scalable, and sustainable they will assist you and help you get into the right networks to make your vision a reality.
Lastly, to many Namibian entrepreneurs and founders I want to say that it takes hard work, strong belief in yourself, and every time you fail look at it as a blessing because only through failure do we really succeed
