Sulaiman Adewale’s motivation to create Xara stems from a deeply personal challenge rather than the typical entrepreneurial drive to capitalize on market opportunities or trends.
“My eyesight makes it difficult to see details from a distance,” he shares. “When I’m out shopping, I often have to leave without completing transactions because I can’t clearly read account numbers. Even when I manage to see them, constantly shifting my gaze is exhausting since the numbers appear blurry.“
This everyday frustration inspired the development of Xara, an AI-driven financial assistant integrated directly into WhatsApp. It enables users to send money, settle bills, and carry out financial tasks simply by typing or speaking commands.
“My goal was to build a payment system that anyone could use effortlessly, even those who aren’t tech-savvy,” Adewale explains. “While my own vision issues sparked the idea, the broader mission was to simplify financial transactions for all users.“
Choosing WhatsApp as the platform was a strategic decision grounded in practicality rather than marketing gimmicks. “Almost everyone already uses WhatsApp,” he notes. “Our strategy is to engage users where they already are, rather than forcing them to download new apps. Those who stand to benefit most from Xara are already active on this familiar platform.“
This approach has played a crucial role in accelerating Xara’s user adoption.
Currently, Xara boasts over 30,000 registered users, with 15,000 actively using the service and around 5,000 daily users. The platform handles nearly ₦3 billion in transactions, an impressive feat for a self-funded startup.
“We have 15,000 active users, 30,000 total sign-ups, and about 5,000 daily users,” Adewale reports. “Given the skepticism around fintech, this growth is encouraging. We’re committed to building trust and demonstrating that Xara is reliable and here for the long haul.“
Xara’s user base spans generations, a notable achievement in the fintech space. Adewale identifies two primary groups: tech-savvy Gen Z users who embrace innovative features, and older adults who appreciate simplicity.
“Young users enjoy futuristic capabilities like sending money via voice notes or paying any account number in physical stores. Meanwhile, older users value Xara’s ease of use-no complicated menus or endless options. They simply send a WhatsApp message, just as they always have.“
A standout feature of Xara is its ability to understand users even when their inputs aren’t perfect. “There’s no need to follow strict formats; the system is forgiving and easily interprets natural language,” Adewale highlights.
Voice notes have become surprisingly popular, especially among older users. “They love being able to simply speak their requests, and Xara handles the rest,” he adds.
Gaining Trust in a Distrustful Fintech Landscape
In Nigeria’s fintech environment, where scams and unreliable apps have diminished consumer confidence, Adewale acknowledges that trust must be earned gradually.
“It’s a tough journey,” he admits. “We focus on transparency and provide users with authentic account numbers, which helps build their confidence in our platform.“
He describes a common pattern among new users:
Many start by depositing ₦1,000, then increase to ₦5,000, and eventually ₦10,000. Over time, they grow comfortable and begin relying fully on Xara because it’s simple and secure.
This patient trust-building strategy is reflected in Xara’s growing engagement and transaction volumes, indicating users are transitioning from trial to loyalty.
The startup is currently self-financed by Adewale and his co-founder. “We’ve bootstrapped Xara so far and haven’t brought in outside investors yet, though we’re preparing for our first seed funding round,” he reveals.
Despite limited funding, Xara generates revenue through commissions on bill payments and partnerships. “We earn from services like airtime top-ups, data purchases, betting platform funding, and electricity payments,” Adewale explains. “However, our current priority isn’t profit; it’s about ensuring users adopt and enjoy Xara.“
Looking forward, the team has ambitious plans.
“Within the next 12 to 18 months, we aim to solidify our presence in Nigeria and capture a significant market share,” Adewale states. “We’re already attracting interest from other African countries eager to launch Xara, and securing seed funding will accelerate this growth.“
He emphasizes that obtaining regulatory approvals and certifications will be crucial to enhancing user trust as they scale. “We plan to secure additional licenses to reassure users of our legitimacy,” he adds.
When asked about his vision of success, Adewale offers a humble yet inspiring perspective. “Success means Xara becoming a household name, leading the market, expanding across Africa, and enabling people like me, with vision impairments, to make payments effortlessly.“
He concludes with a heartfelt reflection: “True fulfillment will come when Xara is solving everyday problems for Nigerians. That’s when I’ll know we’ve truly made a difference.“
For Adewale, Xara is more than just another app-it’s a thoughtfully designed solution that genuinely understands and supports people, both figuratively and literally.