Virtual restaurant brands, making food delivery a success for local kitchens
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.peckwaterbrands.com/ |
| Sectors | Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 12284429 |
| Incorporation date | 28 Oct 2019 |
Investment summary
Business highlights
- Backed by UK's largest pub group & SoftBank Investments
- Live in three countries: UK, USA, and UAE
- £10m of Consumer Sales made in first 2 years*
- 30% month-on-month growth since last Seedrs Round*
Key features
Idea
Introduction
Peckwater is a platform helping existing kitchen operators make a success of food delivery.
Running a hospitality business is expensive, and most of the costs are fixed. High street rents, rates, and staff need paying, no matter how many diners visit.
Delivery is an ever-increasing part of any site's revenue mix - and in a ferociously competitive market it's vital to get it right. We work with kitchen operators to make sure they do.
We help restaurant partners use their existing staff and kitchen capacity better. From software to identify operating and menu improvements which help a restaurant sell more of their own products, to virtual brands that allow a restaurant to offer customers in their local area a broader mix of cuisine types.
This helps their business thrive, all whilst giving choice to consumers.
Substantial accomplishments to date
Our first partner switched on for business in June 2020. In those two years we've:
- Built the largest estate of virtual brands in the UK of nearly 200 contracted sites
- Opened sites in the US and UAE
- Developed our proprietary operating platform
- Deployed 15+ fully developed food concepts
- Investment from Stonegate Group - the UK's largest hospitality estate of 4,800 pubs, following a successful pilot
- Generated huge returns for our partners - £12k/month on average - that are transformational to their businesses (March-May 2022)
*Source: unaudited management accounts
Monetisation strategy
Peckwater has 3 products. All are geared towards helping kitchen operators maximise their returns from delivery. Our product ladder lets kitchen operators engage with food delivery to the level they want; from optimising a small portion of an existing business, up to a complete gearing of their business to servicing delivery demand.
SaaS - an operating platform which interprets their data to offer actionable insights for increasing sales
Virtual brands - plug-and-play concepts, to operate alongside an existing business and maximise the throughput of their kitchen
High Street Dark Kitchen - a multi-concept delivery deployment, allowing the operator to take on multiple food categories from one location.
We’re continuing to build out our offering to fulfil our proposition to our partners of “you run the kitchen, we do the rest”.
Use of proceeds
UK Coverage
We’re already the leader in the UK virtual brands market, with 175 outlets from Aberdeen to Plymouth. Watch this space… we intend to be the largest kitchen network of any kind in the UK within 2 years.
Technology
We’re building an operating platform to make sure our restaurant partners succeed in the delivery market. From machine learning-generated menus, to localised operating benchmarks & pricing, our aim is for partners to have the tools to delight consumers every time. This will ensure they build market-leading delivery businesses!
International Expansion
We’ve always believed that our platform can work wherever there are customers ordering food delivery. We’ve already established a presence in the US, and we’re now set to make waves across Europe - with confirmed launches in the very near future.
(The Company received £3,000,012.07 of the investment reflected in this campaign in the 5 months before the launch of the investment round on Seedrs, and the Company has started putting this to use in line with the use of proceeds set out in the campaign.)
Key Information
Share Classes
The company currently has 4 classes of shares, A2 Ordinary Shares, A Ordinary Shares, Ordinary Shares and B Ordinary (Non-Voting).
The rights attached to the share classes are as follows:
- A2 Ordinary and A Ordinary shares: full voting rights and 1x non-participating preference on liquidation and exit. The A2 Ordinary preference ranks above the A Ordinary preference.
- Ordinary shares: full voting rights, no exit or liquidation preference.
- B Ordinary (Non-Voting): no voting rights, no exit or liquidation preference.
All investors in the round are receiving A2 Ordinary Shares.
Co-Investor Rights
The company has entered into an additional commercial arrangement with one of the co-investors of the round (Stonegate Group) whereby Stonegate, upon a liquidation or exit, shall be deemed to hold additional A2 Ordinary Shares (representing up to 22.8% of the Fully Diluted Share Capital of the Company) subject to strict performance metrics. These include the number of sites introduced to Peckwater by Stonegate and the performance level of such sites.
Please note, given the nature of these rights, they have not been factored into the pre-money calculation of the round but would (if achieved by Stonegate) represent future dilution to investors on an exit or liquidation.
Group Structure
Investors in this round are investing in and will become shareholders of Peckwater Investments LTD (12284429). This is the holding company for the group.
The group structure is as follows:
Open an account to get access to the team members of Peckwater Brands
Already have an account? Log in
To comply with financial regulations, we can only show full campaign details to registered users.
Only shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy shares