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Technology

FETCH

Status: Funded

Jul 13th 2020 - Sep 11th 2020

POS8 is a company that has developed an app, Fetch, that allows customers to order and pay from their phone. The company feels that 'Fetch' holds prominence against the backdrop of the Covid-19 pandemic. Using the app, customers can view a menu, order food & drink and pay securely, all in a matter of seconds with no need for contact, from the comfort of their smartphones. The app's 'Intelligent Ordering System' sends orders to a venue staff’s own devices according to who has the fewest orders waiting. The company believes that its pay-per-transaction model allows it to dominate the £98 billion restaurants industry. POS8 is also developing a LIDAR (Light Detection and Ranging) & beacon location technology to pin-point guests to an accuracy of 10 cm for faster serving times. The company will use 10% of the investment to complete its location technology, 20% in Point of Sale (POS) integrations, 20% in operations, and 50% in sales and marketing to build customer and user base.

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FETCH Rating Review

Rated on 20/07/2020

Pitch Rated

72%

overall

Management

80%

Product

59%

Investment

77%

Pitch rating powered by CROWDRATING

What the ratings mean

  • 49% and under
    We suggest potential investors carry out further study of their own
    50-64%
    Room for improvement
    65-79%
    Worth considering
    80%+
    Gold rating, our highest rating
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Management 80%

Skills 82%
The management team of Fetch is led by a CEO who is an expert in all aspects of strategy within the business including acquisition of global partners, account management, international sales, digital marketing, solution selling and new software development. The CTO is experienced in software development for room/property management systems, point-of-sale and payment integrations. He has a strong technical background with a track record of success in overseeing the implementation of new technology platforms and business procedures. The VP of Sales and Marketing is skilled in negotiation, budgeting, hotel management, international business, business development and planning. The Chief Information Officer is well versed in go-to-market strategy, software development, cloud computing, software architecture and network engineering. The Operation Director is a specialist in investor relation management, corporate governance, event management, HR management, digital marketing, online advertising, and company secretarial skills. The Creative Director has deep domain experience in brand activation, art direction, digital campaign development, interaction design, sponsorship strategy and creative entrepreneurship. It was noted that they had not appointed a dedicated finance head.

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Pitch Rated

78%

Overall

rating powered by

CROWD RATING™

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  • £438,660
    pledged
  • 292%
    of goal

    £150,000
    target

    £7,500,000
    pre-money valuation

    1.96%
    equity available

    592
    investors

    £741
    pledge per investor

    11071470
    company number

    Active
    company status

    20/11/2017
    incorporated 3 years

    Equity Calculator
    Investment
    £
    Equity
    %
    Previous Funding rounds
    13 Jul 20 Seedrs £438,660 / 292% 72.00%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

As seen in:

  • The Guardian
  • Financial Times
  • Yahoo! Finance
  • The Times
  • The Daily Telegraph