Proof of Usefulness Report

Lenco

Analysis completed on 2/8/2026

+58

Proof of Usefulness Score

You're In Business

Lenco is a legitimate Y Combinator (W22) backed fintech providing business banking in Nigeria with ~$2M+ in seed funding. However, the submission quality is extremely poor (claims 'most people' have used it, lists audience as 'everyone'), which severely penalized the Quality Factors (Qi). While the verified reality (6k+ businesses) places it in the 'Promising' category revenue-wise, the user count (<50k) and submission quality align the score with the 'Minimal traction' calibration bucket (0-100).

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Score Breakdown

Real World Utility+22.5

Audience Reach Impact+4.0

Technical Innovation+4.88

Evidence Of Traction+15.75

Market Timing Relevance+8.5

Functional Completeness+0.25

Subtotal+55.88

Usefulness Multiplierx1.04

Final Score+58

Project Details

Project URL

lenco.co

Description

Lenco provides full-fledged current accounts and expense management tools for African businesses to grow. Have questions? Email support@lenco.ng

Algorithm Insights

Market Position

Growing utility with room for optimization

User Engagement

Documented reach suggests active user community

Technical Stack

Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline