Morayo, founded by Theotis Sharpe ’20SIPA, is a peer-to-peer platform that equips entrepreneurs in informal economies with access to new markets and trusted networks based on real time interactions
The nature of the informal sector is local but for many vendors local means operating within a defined business corridor. 84% of firms in the informal economy sell to customers within a 30 minute walk. Informal vendors have to cluster in a particular part of the city (central business district) in order to be recognized.
As local economies evolve with new technology and digitization, there is a burgeoning need for informal vendors to grow their businesses by tapping into new networks that include access to new customers and suppliers.