Munchi is an AI powered marketing platform designed to help small restaurant owners combat fragmentation, operational inefficiency and low profit margins.
Traction and Ask
With €110k annual revenues expected in 2023 (80% MoM), 60+ restaurant partners such as Momotoko, Noodle Story and Bun2Bun and operations in 6 cities in Finland and Estonia, Munchi is now looking to raise €350k pre-seed funding. The ideal investor would have expertise in SaaS and/or foodtech. The investment is needed to:
- Enter the Swedish market;
- Reach 200 more restaurant partners and €500k ARR by Q4 2024;
- Strengthen the team with 3 new hires in sales and 2 new hires in tech.
Market, Business Model, Financials and Team
Founded in 2022 in Helsinki, Finland, Munchi is poised to capture a significant share of the global foodtech market worth €160B (+10% CAGR/Year).
Munchi is monetizing mainly through SaaS fees charged to small restaurant owners. Revenue growth is projected at 5x YoY (breakeven in Q4 2023), reaching €2M by Q4 2025.
Munchi team of 7 (3 full-time co-founders and 4 full-time employees) combines several decades of commercial, foodtech and SaaS expertise.
Key USP versus competitors like Bestorante is that we are the world’s first and only solution blending AI-driven capabilities with food tech. Our all-in-one platform uniquely empowers small restaurants with unmatched growth and efficiency, setting us apart from any other fragmented tools in the market.
At a €2M pre-money valuation, Munchi aims to close this pre-seed round by 15 November 2023. Some minority investors have already committed to join with €50k. The minimum investment ticket size is €20k.
Munchi has previously raised €195k in private capital from angel investors to develop its MVP and validate the product-market-fit, which means that, after this round is secured, Munchi is fully ready for international commercial uptake. Munchi is seeking to exit in 4 years at a target valuation of €50M (25x return of investment).
Get in Touch
Mario Henningson, Co-founder & CEO, and the other founders are speaking with potential investors over the next few weeks and are keen to pitch, demo and open up their KPIs and financial plans in detail.