My Story

Mafaz Jaufer is a serial entrepreneur; an Investor; Founder of VePay Inc., Dropify LLC; Co-Founder of Strategic Penny, VEZOLVE LLCVEZOLVE Media and a farmer, and a proud father.

From a very young age he was wired up for business. In his mind just one question lingers all the time “what’s next?”. He is a forward thinker in business, deeply recognizes trends and patterns early which allows him to help others understand how these shifts impact markets and consumer behavior. Whether it is apparel, technology, block chain, NFT investing or digital communications, Mafaz is passionate about everything and always looks for ways to set his footprint in that arena. Through his venture capital “Oxygen ventures Inc.”  he is a prolific angel investor with early investments for small startups in Sri Lanka, with the hope to expand in USA and Canada.

Mafaz is an entrepreneur at heart — he builds businesses. Today, through his marketing agency VEZOLVE Media which is headquartered in Phoenix, USA he provides full service of an advertising agency for small and medium sized business to work on their market presence. Through Dropify LLC he is managing Shopify stores for customers with 7 figures. He has a unique line of products which is sold through his own Shopify stores. 

VEZOLVE LLC which has its own line of enterprise business solutions software and build custom software for their clients from Finance, Medical, Educational and ecommerce industries. Today they cater the North American region with their expertism to canopy industry, insurance, ecommerce, logistics, construction, and telecom industry with their Business solutions.

When he wanted to build a factoring solution, he was weighing his options, looking at cost cutting and accepted the challenge in building it in house with a $200-$300K investment with his team instead of purchasing a built-in software which will go live in September 2022. Then due to his religious beliefs, he didn’t want to be in any business with interest, so he quit being the co-founder of the company and currently serving only as an Advisory Board Member at AndFinance Inc. This allowed him to initiate a sharia compliance factoring software named VePay Inc., headquartered in Vancouver, Canada. Currently the other major software development undergoing is a BI tool called UnicornBI, which analyses 360 view of a business, and Blinky Blinky a web-extension which is aimed to reduce the eye strain of long-term computer users. He’s also the co-founder of Strategic Penny, which is a bookkeeping company.

Currently he has a headcount of 35+ team members, operating from 6 different countries, which is 10x growth within the past 3 years. He is also passionate about blockchain, bitcoin, NFT, crypto currency and has his footprint on these fields. He is an active investor in bitcoin.

In addition to running multiple businesses, Mafaz does consultation for young entrepreneurs, career path builder for school leavers and runs two charity organizations.  

Mafaz Jaufer’s Early Life:

Mafaz Jaufer is the eldest of 4 family members who lived in Mawanella, Sri Lanka. Mafaz often calls himself a “purebred entrepreneur”. His business exposure runs back to age 10, when he started a Ramadhan roadside stall franchise with a few of his friends. Finding the raw materials; fruits and nuts from the neighborhood and adding value to those by making them into pickles, chips and snacks, then managing his friends under him to run the store showcases his leadership and business skills from a very young age. Then he expanded his horizons by eventually selling imported goods and small accessories from ebay to his neighbors throughout his high school using his razor-sharp sales-tactics.

Throughout his high school years, he was trying out multiple business ideas. He had a collection of rare and unique postcards which he would sell (With a good profit margin obviously), then he wanted to build a multi-vendor platform, like rainbow pages, but due to the lack of skills at that time it failed. Then as a young blood, he was attracted towards motorbikes. He partnered with a motorbike customization network who gave him special discounts and sales commission for bringing in clients to them. Ater graduating from high school he moved to Colombo to start his undergraduate degree in Computer science. While engaged in college he started “American college of applied studies´ with one of his friends.  It was a success, but he did exit and joined a BPO firm as a team leader as he was tired and wanted a break to think about his future career. After his graduation he went on a vacation to Dubai, UAE on a visit visa as his father was running a transportation company in Dubai. While there he applied for some jobs in networking as he always had a passion towards hardware, telecommunication, and networking. He got selected to work for Etisalat as a field level technician and due to his performance, he got promoted as a team lead within a short period. However, he was still looking for his life call. He came to know about ERP, SAP through one of his roommates and started to explore this new area.

He left his position at Etisalat and joined Emjay Penguin groups in Sri Lanka to pursue his desire as an ERP/BI consultant. He was part of the IFS and Qlikview implementation team. While working for Emjay groups he always had side hustles to keep his mind busy with business. He did cut piece business, imported baby items/dresses from China and became a reseller for factory outlet. Then he builds his 1st company in Sri Lanka, Antz Holdings (PVT) Ltd. to start an export-import business. He partnered with Endurance and ID fresh foods. His negotiation skills allowed him to be the distributor for Yeti isotonic energy drink, Lazzat spices and ID fresh foods in Eastern and Southern Provinces.  This helped him to connect with local and international suppliers and distributors.

Next, he realized, Sri Lankan market was too slow at the time for ERP software, so he went back to Dubai to join RFR Groups as an ERP implementation consultant. He got exposure in SAGE ERP X3 and lead the implementation for one of the leading hospitals, a paint manufacturing company, for some government firms, logistic and tracking companies which gave him a thorough understanding of business process flow. He led the Business intelligence for the company as well. This job offered the flexibility of working from home, and from Dubai. Which allowed him to seamlessly focus on his business in Sri Lanka. During this time with 3 of his friends he started a goat dairy farm in Sri Lanka, Acura Lanka widely known as “Elu” brand today.

Next, to enhance his career he joined SLITPRO as a business development manager to settle down in Sri Lanka in 2016. At the end of 2017 he quit the position as a business development manager because the business was at a loss due to high operational costs and overheads.

His next chapter begins migrating to the USA in 2017 and by that time he did a successful exit from the dairy farm. However, being and extravert personality he started to network with business startup groups, and made connections. His business proposal was one of the 18 selected proposals out of 300 which allowed him to participate in a 3-day boot camp. This allowed him to partner with a local to start 360solutions. The main product at that time was a CRM which they had white labeled and sold for the USA market. He had to exit 360solutions and start VEZOLVE in 2019 to expand the business model. During pandemic, Mafaz initiated startups Yallaby in Oman and Esnaftar in Turkey which is a platform to help online ordering and delivering foods and groceries. 

COVID pandemic gave him the time to rethink and restructure his business model once again. He realized that clients needed digital marketing to brand their businesses which led him to start VEZOLVE Media. With the COVID 19 pandemic the whole world started to work in cyberspace which led them to spend more time in front of their computers. During this time work from home culture was getting attention around the world and he noticed that apart from its advantages, there were some disadvantages in spending hours and hours in front of the screen which led him to develop two products called Blinky Blinky and VDeskit.

Blinky Blinky is a web browser extension, developed to reduce and prevent the eye strain of long-term computer users. It is developed to support the 20/20/20 rule which means that for every 20 minutes spent using a screen; you should try to look away from your screen every 20 minutes which is 20 feet away from you for a total of 20 seconds . The product was chosen by the Founder’s Institute incubator program.

VDeskit is an ergonomically designed standing desk for people who work from home. This Desk was built to support the correct posture and work while standing to give some physical movements for the people. The desk was manufactured to give easy assembly, durability and portable.

He was involved in new ventures such as OneDock which is an e-Commerce platform connecting international whole sellers, suppliers, and manufacturers with Big Box marketplaces in the USA. There he noticed that vendors and sellers who sell their products in big-box retailers like Amazon, Walmart, Lowe’s must wait for a period of 45-60 days until they get their payments. The idea of a factoring company stuck in his mind which can release a portion of the money to the sellers immediately so that the sellers do not need to wait. He wanted to build a sharia compliance factoring software, and initiated VePay Inc. which is registered in Canada.

Starting from there with the grace of God he was able to initiate many start-ups in the USA, Canada and in Sri Lanka and planning to build and grow his business into a multimillion-dollar company.