Concept:
Yumitos is an innovative platform that empowers culinary enthusiasts, creating economic opportunities for home cooks, chefs, and small businesses.
Traction:
Within the first three months of our successful launch in Ecuador, we collected over 4,000 registered kitchens and more than 500 actively operating kitchens, with over 2,000 customers in a single city. We are poised to expand to the entire country within the next 30 days, and we have ambitious plans to extend our reach to new markets, including Mexico, Brazil, Peru, Spain, and Southeast Asia, through a licensing model.
Technology:
Our journey has seen us evolve from a Proof of Concept (POC) to a Minimum Viable Product (MVP) and version 2.0, accumulating valuable data and knowledge. Currently, we're working on the release of version 3.0, which is scheduled for the next four months. This update will introduce social aspects and new features that will revolutionize how users engage with the food marketplace.
Business Model:
Yumitos operates on a freemium business model, meaning that joining our platform is completely free, with no monthly fees. Instead, we apply a transaction fee to kitchens and a service fee to customers. In addition to these revenue sources, we also generate income from advertising, subscriptions, and membership fees. It's important to note that we've invested over $1.5 million in technology development, with $300,000 coming from accredited investors. We are currently in the process of raising an additional $500,000 for marketing and expanding into new licensing markets to facilitate rapid growth.
Company:
Yumitos Corp is based in Charlotte, NC.
Market:
Emerging unregulated markets
Investment Terms:
SAFE (Simple Agreement for Future Equity), CAP 20%.
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