Fretch

Fretch

Ethnic groceries delivered right to your door

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Security Type
SAFE
Categories
Other
Min Investment
$100
Location
New York, NY
Offering Date
January 24, 2019
Expected Close Date
May 01, 2019
Target Raise
$25.00K-$1.07M
Deal Notes

Discount: 12%

Key Deal Facts

Grocery delivery for ethnic communities in the US 
Currently serving the South Asian community (Indian, Pakistani, Bangladeshi), and planning to serve the Chinese, Korean, Filipino, Latino, Greek, Middle Eastern and other communities soon
Market of an estimated 81 million diverse customers, with a market size between $65 and $100 billion annually
25,000 orders delivered to 5,000 unique customers
$1.1 million annual revenue run rate
70.2% repeat customer rate
Month-over-month cash flow positive
Key team members are veterans in ethnic grocery delivery management, technology and data analytics

Use of Proceeds

Intermediary Fees: 6.00%

Campaign marketing expenses or related reimbursement: 8% - 1.87%

Estimated Attorney Fees: 10% - 0.23%

Estimated Accountant/Audi tor Fees: 8% - 0.2%

General Marketing: 32% - 37.4%

Research and Development: 36% - 14%

Equipment Purchases: 0% - 8.4%

Future Wages: 0% - 20.56%

General Working Capital: 0% - 11.34%

Perks

$250 - A 'thank you' note from the Fretch team
$500 - All of the above PLUS your name featured on a very special investor page on the Fretch website
$1,000 - All of the above PLUS a special care package thoughtfully curated with the best of what we sell
$5,000 - All of the above PLUS we'll share with you an annual video update with the Fretch founding team keeping you updated with the progress, the vision, and the plan to get there
$10,000 - All of the above PLUS an invitation to annual Fretch investor dinner to be held in New York with the Fretch founding team
$25,000 - All of the above PLUS a quarterly one-on-one video meeting with the Fretch founding team where you get to ask us anything and brainstorm on any ideas that can potentially influence the direction of the company

Management Team / Advisory Board Bios

Naresh Mulchandani - Founder & CEO

Yogesh Lal (Yogi) - Chief Operations Officer

Amit Batra - Advisor & Financial Controller

Ankit Sindhi - Marketing Advisor

Deal Notes

Discount: 12%

Amount Raised : $10,750
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Security Description

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