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FastServe

Food Delivery SaaS solution designed for large sports venues

Belarus, Minsk city
Market: Internet and IT, Public catering, Entertainment, Services, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 19.10.2019
Min investment
$  50.000
Total required
$ 50.000
Rating
equalizer 350 из 1000
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Idea

Food Delivery service for the internal system of stadiums, arenas, multifunctional complexes, which will allow fans to order and pay for food, drinks, club merch through the app without getting up.

Current Status

1 Have signed an agreement for one year with 2 arena in minsk ( Falcon Club Arena and SCA Uruhe)
2. LOI with 110 concert hall in Ukraine and 3 in Belarus
3. The web-application is developing now
4.FastServe have taken participations on accelerator program HYPE Sport Innovations with FC Shakhtar since 28 October 2018
. Won Pilot with FC Shakhtar

Market

3 Billion Total Available Market
1.1B - Serviceable Available Market
8% - Available Market = 88M euro

Problem or Opportunity

1. Loss of sales and security at stadiums and arenas due to queues and large crowds.
2. Fans are forced to choose between the spectacle and the food.
3. Clubs, artists, etc. don't get enough information about their fans.
They have no decision how to solve this problem now. All Fans should just wait in really long lines to order food.

Solution (product or service)

Delivery food, merch directly to fan's seat in a few minutes using our APP or Chat-Bot on Telegram, or fans can make a pre-order and pick up their order in express line.

Competitors

FanFood (USA)
SeatServe (USA)
DigiFood (France)

Advantages or differentiators

We have profitable (cheaper) proposal for CIS and Europe stadium and customers, comparison to our competitors. As well we will enter not only stadiums and sport events, but also cultural events, concerts and University’s.

Finance

Yes ,we have (its our business model)
In 3 years we will get:
Revenue 3M euro/year
The value of the company 15-20M euro
Investors X = 300

Business model

SaaS: Stadium pay fee as technical support 250 euro/month fro each 5k capacity
Customer pay commission 10% from an order
Stadium pay commission 10-15% from FastServe sales

Money will be spent on

We need investments for Application development
Then start going on Polish and Germany market

Our expenditure is 20000 (euro) :
12.000 for Chat-Bot on Telegram platform and 8.000 for marketing and conference's which is located abroad (Germany and Ukraine), and so on...

Offer for investor

For sale at European stadiums, application development and cost coverage of 50,000 euros is required. The return on investment starts from the 10th month of the project for at least 5.000 euros per month, investments can be returned in full in less than two years . The division of shares in the company is (CEO(Founder) - 32%, COO(Founder) - 32%, 6% - team, 20% - pool for future employees, 10% - allocated to the first investor)

For investments of 50,000 euros:
1. Option 10% - 50,000 euros
2. Credit (first year -0%, second year 15-20%)

Team or Management

Risks

1.Problem: payment system, acquiring (each country have different rules). Solution: open a company in EU to get bank acquiring which will work easily across all europe

2.Problem: sometimes stadium and clubs, which are playing on this stadium, are different organisations, therefore we should speak to the stadium head. Solution: Go to market in cooperated with ticket business, or with club head departments.

Incubation/Acceleration programs accomplishment

FastServe have taken participations on program HYPE Sport Innovations with FC Shakhtar since 28 October 2018 by 20 March 2018.

Won the competition and other awards

Winner a program HYPE Sport Innovations with FC Shakhtar as most progressive sturtup. Won a Pilot with FC Shakhtar.
FastServe took 3rd place in INVEST WEEKEND in MInsk and 2nd place in INVEST WEEKEND in Gomel
3rd place in StartUp session of venture club CHANGER CLUB (RIGA)
https://vc.ru/tribuna/74506-istoriya-startapa-iz-minska-v-sfere-foodtech-sporttech

Photos

Photo 1 - FastServe
Photo 2 - FastServe
Photo 3 - FastServe
Photo 4 - FastServe
Photo 5 - FastServe

Product Video

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address