FETCH, a transformative Fintech firm that’s focused on “driving efficiency & precision guest location for food & drink ordering & payments,” has acquired £1,414,473 from 246 investors (at the time of writing) via Seedrs.
FETCH has now achieved 141% of its £1,000,013 target with 34 days left until its Seedrs campaign ends. Based in Harrow, United Kingdom, FETCH is focused on the Finance & Payments sectors (Digital Mixed B2B/B2C). Incorporated on November 20, 2017, FETCH (offering an equity type investment) reports a £24M valuation (pre-money) and a £18.19 share price.
As noted by the firm’s management:
“FETCH is a fully developed ordering and payment solution for pubs, bars, restaurants, stadiums, hotels & festivals. Smart, unique technology pinpoints a customer’s location with clever features including bill splitting, tipping, instant feedback to make ordering food and drinks easy. Without needing to download our app, customers can easily browse menus, open a tab, place orders, pay using their digital wallets, leave feedback and gain loyalty rewards.”
The company also mentions that people really crave or desire a safe and “straightforward” experience as they “return out.” Around 71% of under 45s think that innovative technology can enhance the guest experience, the company reveals while noting that from their view of the industry, they believe many software solutions “fail by not integrating with payments or being difficult to navigate, and most solutions require customers to download an app.”
The company adds:
“With sleek table technology for users to tap, ordering and paying is easy and intuitive. FETCH integrates with a venue’s POS and evenly distributes orders to staff, creating a seamless, efficient and contact-free solution.”
While sharing details about their monetization strategy, FETCH notes that their business model “operates on a straightforward transaction fee, which is typically 2-5% of gross order value, or through a SaaS model depending on the venue type.” The company adds that this “further increases our appeal to venues, as the lack of set-up or management fees removes cost barriers to adopting FETCH.”
The firm’s management also mentions:
“We believe our smart, integrated solution for contact-free hospitality services, our simple pay-per-transaction model, together with our globally-recognized and experienced team, means FETCH is perfectly placed to take a healthy share of the £98billion food and drinks market. Our focus is driving sales through signing smart integration and reselling partners, delivering more hotel, pub and restaurants chains across the UK, Europe and enhancing business development in the US. The more venues we sign, the more transactions we process — and the more revenue we make.”
Some of the key highlights of this offer are as follows:
- 26K transactions and £265K platform flow through since March 2021
- Experienced team with global recognition in fintech & hospitality
- Innovative fintech delivers precise guest location
- In progressive talks with global hotel groups on adopting FETCH
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