Full-stack online ordering platform for food truck owners and their customers

Security Type
Crowd Note
Min Investment
Austin, TX
Offering Date
June 12, 2020
Expected Close Date
September 10, 2020
Target Raise
Deal Notes

Round type: Seed Round size: US $1,000,000 Minimum investment: US $1,000 Target Minimum: US $250,000 Security Type: Crowd Note Conversion discount: 20.0% Interest rate: 5.0% Note term: 24 months

Company Description

Full-stack online ordering platform for food truck owners and their customersOff-premise dining models such as food trucks, ghost kitchens, and delivery now drive the majority of traffic in the restaurant industry. Mobility has surpassed brick and mortar. After all, food trucks are mobile ghost kitchens - uniquely positioned now more than ever.The Problem: However, Food Trucks: (1) have very long lines, (2) have inflexible payment options as 62% are cash only, & (3) are extremely difficult to locate. This lack of innovation results in customer frustration, and a loss in potential sales for the food truck. The Solution: Our app allows customers to find nearby food trucks & order ahead for pickup & delivery. They can pay using Venmo, Apple Pay or card.For Food Truck Owners: Food Trucks owners have their own app which can be used on a smartphone device or tablet. It also allows them to receive incoming pickup & delivery orders, set their live location, maintain control of menu & hours, and receive sales analytics for any custom date range and detailed data analytics. Why Food Trucks Are Uniquely Positioned now, more than ever: The Restaurant industry is undergoing changes amidst the crisis - and this pandemic has validated off-premise dining models (food trucks, ghost kitchens, delivery). After all, food trucks are mobile ghost kitchens. Given that all events and gatherings have been cancelled, vendors are now overwhelmingly seeking online ordering platforms that provide pickup & delivery to reach customers during the pandemic. We believe TruckBux is the ultimate solution. Having recently integrated with Postmates and now having the ability to deliver in all  50 states, we've seen a high influx of food trucks joining our platform. We understand their challenges and build strong relationships with our partnered vendors. Our mission is to help the food truck industry thrive through technology. 


$1,000: Quarterly investor updates
$25,000-$99,999: Above plus TruckBux T-shirt.
$100,000+: Above plus participation in regularly scheduled quarterly call with TruckBux senior management.

Key Deal Facts

Achieved over $157,000+ in Gross Merchandise Value in 2019, representing 123% growth from 2018 (unaudited)
60+ food trucks currently signed up on the platform
Delivery Integration with Postmates - allowing us to deliver in all 50 states
Accepted into The Capital Factory’s VIP Accelerator, located in Austin, a well-known food truck capital
Over 9,000+ app downloads with an average rating of 4.5/5 stars on our iOS app

Use of Proceeds

Advertising & Marketing, Salaries & Wages, Contractors, Data Expenses, Travel, Legal & Accounting, Software & Subscriptions, Bank Charges & Fees, Unspecified

Management Team / Advisory Board Bios

Nick Nanakos
Founder | CEO
While pursuing a career in Corporate Finance and Real Estate, I worked internships at several large and noteworthy firms such as JP Morgan, Investors Capital, & Balfour Beatty.During this time, I began building TruckBux - which energized me beyond imagination. I worked relentlessly at building a product that would transform the industry, launched it, and left school to be all in. I come from a background of highly talented restaurant entrepreneurs and understand food deeply. My grandfather immigrated from Greece to the US with $8, working as a street food vendor. I am focused on helping food trucks thrive through technology. I'm high-conviction, non-consensus, and an irrational optimist. 

Fidel Boamah
Creative Director
Originally from Ghana, in the face of financial struggle and physical disability, I earned my way to America to pursue my passion of becoming a creative genius. My passion is designing intuitive, functional, and attractive experiences for users - making the product look & feel good. I'm capable of turning my creative concepts into reality through TruckBux.

Summit Singh
I’m the brain behind our tech & oversee all product innovation. I lead our team of developers, making aggressive strides toward product perfection. Throughout my years I've built several products, along with experience in development while working part-time at Oracle. I know how to lead and create synergies between our product and customers. I understand specifically what technological needs must be built for food trucks, and make it happen.

Deal Notes

Round type: Seed Round size: US $1,000,000 Minimum investment: US $1,000 Target Minimum: US $250,000 Security Type: Crowd Note Conversion discount: 20.0% Interest rate: 5.0% Note term: 24 months

Amount Raised : $295,000
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
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Security Description

A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

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