Innovative tool for the food and beverage service industry

13 september 2021

Beschrijving onderneming:

This startup is a Monaco-based startup founded in 2021, providing a new experience for the food and beverage service industry.

With their mobile ordering and paying solutions, they allow restaurants, bars, and cafes to optimize their operations and efficiency in dealing with their customers. The process this startup offers is very simple:

  • A customer scans a QR code on the table;
  • Opens an interactive menu in the web browser of his phone;
  • Chooses items he wants to order;
  • Places his order;
  • A waiter accepts the order through the POS system of a restaurant;
  • When a customer is done with his meal, he can pay directly from his phone.

The technological change in the world is accelerating and it is affecting the restaurant industry. Many restaurants are looking for ways to improve operations and better satisfy customers. With the use of Contactless Ordering, Payments, Data & AI Integrations, this startup aims to increase restaurant efficiency and create a personalized and fast experience for their customers.

 

Business Model:

The startup charges their clients based on commission. Every time a transaction is processed through the platform, the startup takes a small percentage of the price payed.

 

Type klant:

B2B 

Gewenst type investeerder:

Angel investor or Venture Capitalist

Wat onderscheidt jouw onderneming van anderen in jouw sector (USP’s)?:

Fairness, transparency and innovation.

Restaurants only pay if their customers are actually using the product with the startup, compared to subscription fees of competitors. Furthermore, there are no additional setup costs which means restaurants can start free of charge. Lastly, this startup tries to implement features that competitors don’t have. For example, integration with 70+ POS systems which means no additional hardware is needed, AI technology for personalized experiences and soon accepting crypto payments.

 

Benodigd Kapitaal:

€100.000,-

 

Investeringsbehoefte:

Development €45.000, Marketing €11.000, Supplies €7.000, Legal €11.000, Operational Cost €26.000

 

Sector:

B2B Software; Horeca

Bedrijfsfase:

Seed

Aantal founders:

3

Aantal huidige werknemers:

1-5

Ervaring:

1 founder very experienced in IT, has his own development company.

Other 2 founders know the market very well and have the network to get their product to the right people.

 

Maandelijkse omzet (huidig):

N.A. (Planned launch in 3 weeks)

 

Omzet (Prognose) komende 12 maanden:

€1.000.000,-

 

Omzet (Prognose) maand 13 – 24:

€8.200.000,-

Huidige maandelijkse kosten:

€1.900,-

Reeds toegezegde financiering in deze ronde:

N.A.

 

Overige relevante informatie:

This startup is looking for investment in the form of a Convertible Note or Equity Funding after co-founders invested +- 30K themselves.

The startup already has several key partnerships, a few worth mentioning are:

MONACO FOUNDRY: Monaco Foundry is a Global Venture Accelerator that develops early to mid-stage start-ups. The Accelerator consists of Serial Entrepreneurs, Senior Government Advisors & Fortune 500 Executives. They bring value to the Company’s involved through decades of experience in launching start-ups in various industries, and the assistance in Scaling Start-ups Internationally & Minimizing Common Start-up Risks at the early stage.

GIRAUDI GROUP: Giraudi Group is one the biggest and most innovative Restaurant Groups in Monaco. The Group has signed a partnership to test the tool of the startup in 2 of their restaurants in Monaco with a possibility to expand to more restaurants after. Pizz’aria and Grubers will become the first ever restaurants in Monaco that will offer contactless ordering and paying solutions to its customers. The restaurants that will be used for trial are franchises, with a positive experience, there will be a possibility for an expansion to their Paris, London and Luxembourg locations. The Company is currently present in 12 locations worldwide with 23 restaurants and 12 new openings in 2021. Giraudi and the startup work closely together to ensure that the startup provides the best experience possible.

KPMG: KPMG Monaco is another partner of this startup and is one of the leading accounting, audit & consulting companies in the world. They have been assisting the startup with Company Incorporation, Administrative & Legal Affairs. The start-up established very close working relations with KPMG that allowed the startup to join KPMG’s Startup Campus which will provide significantly reduced rates on consulting and accounting services in the first years of operations. The startup will also be a pilot start-up in Monaco to have its accounting managed through KPMG Monaco x Pennylane Tech partnership.

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