Restaurant meal kit marketplace with some of the biggest & best independent brands, delivering nationwide
Business overview
Location | LONDON, United Kingdom |
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Social media | |
Website | www.plateaway.com/ |
Sectors | Food & Beverage Digital Mixed B2B/B2C |
Company number | 11065308 |
Incorporation date | 29 May 2020 |
Investment summary
Business highlights
- £700,000 + revenue, 21,000 + kits sold, 14,000+ customers
- Backed by the award winning Haatch Ventures leading the round
- Partnered with 70 brands including Shake Shack & Hard Rock Cafe
- Featured in GQ, Mail Online, Time Out, The Infatuation & more
Key features
Idea
Introduction
Customers who don’t live in city centres have limited access to high-quality food options from the best restaurants in the UK. For these people, restaurant meal kits allow anyone, no matter where you live, to eat high-quality, restaurant-standard food at home. Restaurant meal kits take away the stress of eating out and the high price-point, and lack of quality, of a takeaway.
Restaurant meal kits are a brand new concept. Our meal kits are specially curated, hand-picked ingredients from some of the best restaurants including our exclusive partners Shake Shack, Hard Rock Cafe and Homeslice. We bring the restaurant dining experience to your home!
With the UK meal kit industry estimated to be worth 1bn a year, and 89% of customers wanting their favourite restaurant brands to continue delivering after restrictions end, Plateaway is in a great position to capitalise and become the market leader in this new and exciting space.
Substantial accomplishments to date
In our first year of trading (with limited funds) we have achieved the following*:
- £660,000+ GMV online sales
- 14,000+ Customers
- 22,500 Kits Sold
- 60k Corporate Sales
- 6,500+ Email Subscribers
- 10,300+ Instagram Followers
- 400,000+ Users Visited
- £37 Avg. Basket Spend
*based on unaudited management accounts
We have Partnered with over 70 restaurants & brands to date. These include some of the biggest brands in the UK such as:
- Shake Shack
- Hard Rock Cafe
- Homeslice
- Patty&Bun
- Burger and Beyond
- Island Poké
- Passo
- Paul
- The Cinnamon Club
- Fishworks
We have been heavily featured in the press in magazines such as:
- GQ
- Mail online
- Time out
- Independent
- Infatuation
Monetisation strategy
COMMISSION
Plateaway charges a 10-25% commission to our restaurant partners. Commission rates are dependent on a restaurant tier. We have three tiers; Gold, Silver and Bronze. These are mainly based on exclusivity to Plateaway. We plan to evolve these tiers and offer different services, perks and incentives to our partners in the future. These include access to our nationwide distribution, meal kit and packaging development and marketing support such as free content creation, homepage takeovers, paid promotions, more social media exposure, and joint marketing (email campaigns, giveaways).
REVENUE STREAMS
Plateaway currently has two main revenue streams. Online meal kit sales and corporate sales. We plan to introduce several other revenue streams in the near future, including customer memberships and meal kit subscriptions.
DELIVERY CHARGE
We offer three delivery charges on Plateaway that are charged to the customer; free delivery, £2.95 and £4.95.
Use of proceeds
The main focus of this round of investment will go torwards growing our team, evolving our Platform and implementing a very exciting marketing strategy to let everyone in the UK know about Plateaway.
GROWING OUR TEAM
New hires will grow our team’s capabilities across new business, sales, operations, marketing, technology and product development.
EVOLVING OUR PLATFORM
We are building our own bespoke microservices architecture to raise market barriers to entry and allow Plateaway technology to be scaled worldwide. We have partnered with Evolve who provide our embed software development team, who have developers who helped build Just Eat.
MARKETING STRATGEY
We have developed an exciting marketing strategy where we will start to scale our digital marketing spend, introduce customer referrals, and also continue to build our great SEO rankings as well as to grow and leverage our gold restaurant partners, benefiting from their referrals, which is a huge benefit of being a marketplace.
Investor Perks
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
Outstanding debt
Please note the business has outstanding debt obligations. Please see the documents section for a summary.
Funds raised as part of this round will not be used to repay outstanding debt.
Share classes
The company currently has 2 classes of shares, A ordinary shares and B ordinary shares. All investors in this round, including Seedrs investors, will be receiving A shares.
The rights attached to the share classes are as follows:
A ordinary shares:
Full voting rights
Each share is entitled pari passu to dividend payments or any capital distribution.
B ordinary shares
No voting rights
Each share is entitled pari passu to dividend payments or any capital distribution.
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