WAAP: protecting websites, applications and software against attacks
An application shield that filters traffic, blocks intrusions and absorbs flood attacks, billed in FCFA with local support. In operation — 500,000 FCFA declared monthly turnover — the company is seeking 15 million FCFA.
Privacy
In line with the policy ofInvest in Benin, the project leader’s identity is not made public at this stage. It is shared with qualified investors after a confidentiality agreement is signed, simply by asking through the introduction form.
The project
A web application protection solution, known as WAAP — Web Application and API Protection. In practice: a shield placed in front of a website, mobile app or business software, which filters incoming traffic, blocks intrusion attempts and absorbs flood attacks before they reach the server.
The company is registered and the solution is already used by customers. The project leader declares turnover of 500,000 FCFA a month, or about 6 million over twelve months.
Why this market, here and now
The digitisation of services in Benin has moved fast: online administration, banks, insurers, e-commerce, payment platforms. Security has lagged far behind. An SME that moves its business online knows what its website costs; it usually has no idea what three days of downtime would cost.
Two factors make the timing favourable. First, regulation: Benin has adopted a framework on data protection and digital security, and the authorities are raising their requirements — compliance is becoming a budgeted constraint, no longer a good intention. Second, the price of alternatives: equivalent international solutions are billed in foreign currency, with support in a distant time zone and helpdesks that rarely speak the language of local teams. A nearby provider, billing in FCFA and working on site, fills a real niche.
Business model
Monthly subscription per protected site or application, indexed to the volume of traffic filtered, supplemented by audit and compliance services. Revenue is recurring by nature: a shield is not switched off.
Use of funds
The raise of 15 million FCFA covers three items: infrastructure capacity — filtering traffic costs bandwidth and computing power —, recruiting security engineers, and the sales effort towards structured accounts (banks, insurers, administrations), whose decision cycles are long but whose contracts last.
What the investor should look at
It is the most technically mature of the three files, and the one with the lowest turnover — which is not contradictory: selling to large accounts is slow. The useful questions concern the number of active customers and their concentration (a contract representing half of revenue is a risk in itself), the average length of commitments, and insurance cover in the event of service failure. Our newsroom has not had access to the contracts or the accounts.
- Legal existence of the company confirmed: duly registered business
- Identity and background of the project leader verified by our newsroom
- Solution in operation with customers
The turnover of 500,000 FCFA per month is declared by the project leader: our newsroom has seen neither the accounts nor the customer contracts. The number of active customers and their concentration were not disclosed to us — revenue carried by one or two accounts would be fragile. Finally, selling to large organisations means long sales cycles, which the raise will have to fund with no immediate return.
Access the full file
Full files are reserved for members of the investor network: accounts, contracts and forecasts are shared after an NDA is signed, then we set up a direct introduction to the founder.