11th Nov, 2016
Five years ago at a business networking conference, a hopeful and eager software developer was hoping to secure an investor to help him develop his program further.
Hannington Mambo passionately described FasterDev, its specifications, its current capabilities and the boundless possibilities of the future. The investors were dumbfounded to say the least. Lost in all the programming lingo and the technicality of it all, none of them were quite sure of what had just happened.
The pitch had been unsuccessful to say the least. However to Hannington’s surprise, one gentleman from the crowd followed him asking for a further explanation. This investor had seen what every entrepreneur hopes financiers will see- the dream of what could be.
Today FasterDev is its own registered company with Hannington Mambo as the Chief Technical Officer (CTO), his brother Lamek Mambo as a developer and his angel investor Amadou Chico Sissoko as the Chief Executive Officer (CEO).
Hannington explained that programmers face many challenges when trying to deliver apps and software in a timely manner. The time it takes, the cost of hiring the programmers and the resources required to test, supply and implement software make it a long and treacherous journey. For this reason software companies are always seeking for additional funding.
On last week’s episode of Lions’ Den watch here we were all introduced to FasterDev as it is today. It is a solution developed by Hannington and his brother Lamek Mambo over numerous years that helps programmers create and deliver software faster and at a lower cost.
FasterDev is a product of an older company Mambo Software, and the Lions and the public were unclear on why the two brothers decided to pitch as FasterDev and not the mother company which has a higher value.
“FasterDev has reached a point where it was a product that could be used by other people outside Mambo Software, this included other software companies and also included freelance programmers that want to use the software as a service” Mr. Mambo explained.
Hannington and his brother did not want to limit the growth or the use of FasterDev to their mother company Mambo Software.
“There is a general feel or thinking that the software industry is where money is. Well it is true but it is not easy money” said Hannington. “It takes commitment and individuals that can focus for long periods of time. These are traits that they look for even in young programmers they train within the company” he added.
Just from watching Hannington and Amadou converse and joke, one imagines that they have an easy time working together. “Angel investors, people who are looking for companies that they want to be a part of… they really want to be a part of the story of the company” Amadou explains. “Investors look for entrepreneurs that are ready to work with various people; entrepreneurs with humility, openness and a willingness to learn” he added.
The two seem to have understood the complicated relationship between the creator and the financier.
FasterDev is the first of its kind in Africa and they are a company looking forward to an amazing future. A future where anyone who is developing technology within Africa will use FasterDev in achieving their goals.
They hope to not just be a great software company but a successful African story, which will encourage more Africans to create for their own.
