Froot
play_arrow
View
28394

Froot

The Marketplace with own AI financial platform.

USA, California
Market: Internet and IT, Logistics and warehouses, Trade, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 05/22/2018
Min investment
$  400.000
1
Total required
$ 1.260.000
Rating
equalizer 431 из 1000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:

Idea

The Froot had started as an e-commerce enterprise that sells electronic goods by Dutch auction method and has evolved to the marketplace expanding to Philippines and Turkey markets.
Further on, we have built a financial marketplace based on white box machine learning to provide our customers with 25% cheaper installments and consumer loans.

We have grown to 100K active users within 9 months with $1.5/month subscribe model.
Funding history:
Pre-seed $1.1M private investments
Series A $3.0M direct investment (London, UK)

Current Status

100K active users
$70K monthly revenue
200K SKU

Market

Kazakhstan: Market Vol. $554m (17m population)
Philippines: market vol. $1491m (104m population)
Turkey: market vol. $6605m (80m population)

Problem or Opportunity

From consumer POV:
- purchasing power does not match the demand level
- Rewarding and Retention
- Delivery time
- Payment method
From merchant POV:
- Hight delivery costs/time
- Local sells
- unable to execute own fulfillment
From PHP banks:
- unable to execute KYC/scoring
- Money acquisition costs influences on economy consumer loans

Solution (product or service)

We provide our customers with a new entertaining shopping experience and give them 25% cheaper installments and consumer loans. As a game changer, we are solving the last mile and "cash on delivery" problems on fastest growing markets like Philippines, Turkey or Cambodia. Our "Buy&Go" pickup point helps us to reduce a delivery cost for 5-6 times and optimize the COD transactions processing.
On the other hand, we help local merchants sell internationally and use our fulfillment service.
Our consumer lending marketplace is cutting banks and connects a free capital with borrowers.

Competitors

В Казахстане - Каспи кз
В Турции -

Advantages or differentiators

1. Number of SKU
2. Faster and more convenient delivery
3. Own AI finantial platform
4. International sales
5. Fulfillment (advantage for Kazakhstan)
6. Dutch auction

Finance

1. Dutch auction fee from $1 to $5 per user each draw.
2. Merchant fee from 2.5% to 50% (depends on SKU, RRP, payment method)
3. Installment fee 5%
4. Consumer loan fee from 10% to 17% yearly rate.
5. Debit cards interchange fee 1%

Invested in previous rounds, $

 
$ 1.100.000

Business model

1. ARPPU + Back Margin x LTV > CAC + CapExt + CSC
2. NPV = - OpEx + (Summt) x Revt/(1 + IRR)t > 0

Money will be spent on

1. To build a "Buy&Go" pickup points network.
2. Marketing and operations (CAC included)

Offer for investor

15% OFF Convertible note for one year, with current market cap $6.2m
(approx from 23.9% to 12%.)

Risks

Implementation risks

Invention/Patent

1. The Randomizer based on quantum noise.
2. White box machine learning for e-commerce.

Photos

Product Video

Website address

Comments:

You need to login

5,00
1
2
3
4
5
1 voice
arrow_back
EN
more_horiz
close
visibility197
star0
Add to favorites
Delete from favorites
share
close
thumb_up0
Like
Unlike
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