Consumers love TeleRetail because it saves them time and money to remotely purchase and pay from local Retailers and Service Providers.
TeleRetail is raising $500,000 with a minimum reservation of $50,000.
- CEO Torsten Scholl exited his previous company to NYSE for $US 225M
- TeleRetail Platform can access up to 50.000.000 users across Europe
- Strong demand from large corporate customers across EU and US
Consumers love TeleRetail because it saves them time and money to remotely select, purchase and pay from local Retailers and Service Providers. Retailers like TeleRetail because it maximizes sales.
- Funding Goal $500,000
- Minimum Reservation $50,000
- Interest (% per year) 3.00%
- Term Length (Months) 12 months
- Valuation Cap N/A
- Conversion Discount (%) 30%
- Warrant Coverage (%) N/A
- Open Date 03/31/2015
- Closing Date 05/30/2015
Innovation: Consumers love TeleRetail because it saves them substantial amounts of time and money by enabling them to remotely purchase from multiple local retailers and service providers through one Mobile App.Retailers like TeleRetail because it allows them to better anticipate demand – while gaining valuable insights about their customers. TeleRetail won an innovation grant in Germany (EuroCIS).
Developments: Since its inception TeleRetail has developed a Cloud-based, Patent-Pending Mobile Commerce Platform for smart-phone users (Android or iOS) who can now remotely purchase from local retailers and service providers.
Currently available services include restaurants and fuel stations. The service portfolio will soon be expanded to also include hair salons, laundries, spa services, and ski passes.
Experienced Management: Founded and led by Torsten Scholl – one of Europe’s most experienced and successful Tech Entrepreneurs* (*Wall Street Journal: From the attic to the New York Stock Exchange, IMD MBA, Lausanne, CH); Ksenia Vereshchaga, with 10 years of Global Technology Management Experience; Bill Reichert (garage.com) with over 20 years of experience as an entrepreneur and operating executive as well as Jim Jagielski, the President, Director, and Co-Founder of the Apache Software Foundation.
Solving Important Customer Problems: Consumers: TeleRetail provides fast selections, seamless in-App check-out and favorable terms – thereby saving its users time and money on daily purchases and errands. Retailers: TeleRetail supports local suppliers and service providers to better anticipate demand and to maximize revenues – while providing them with important insights of their clients needs.
Unprecedented Service Levels: Consumers: the TeleRetail Platform enables its users to quickly find, select, and pay local products and services for fast pick-up or delivery. Retailers: retailers and service providers can directly interact with their clients, thereby providing them unprecedented service levels.
Target Markets: The company is preparing to significantly expand its Swiss presence – while starting to address markets in the European Union and in North America.
Strategic Customers: TeleRetail works with some of the largest Swiss Bakery-Restaurants, Refineries, Gas Stations and key local service providers to address consumers across Switzerland.
Viral Growth: TeleRetail partners with retailers and service providers to promote its platform. The TeleRetail Platform virally self-promotes itself to consumers across Switzerland through social media. TeleRetail Partners with IBM to promote its platform worldwide.
Business System: TeleRetail generates revenue by: 1. Collecting Commissions and/or Margins (when TeleRetail acts as Aggregator) on generated sales, 2. TeleRetail Platform Licensing Fees, 3. In-App Advertising, and 4. Big Data Analytics.
Competition: TeleRetail has not encountered any directly comparable competitors. Some service elements have similarities with existing online food delivery service providers like Just Eat and Lieferheld.
TeleRetail CEO exited his previous start-up to NYSE for $US 220M+.
Innovation Award from the German Government. (EuroCIS)
Nationwide Gas and Heating Oil Station Partnership across Switzerland.
Partnership with Spanish Vending Machine Company.
IBM Partnership to address international markets.
TeleRetail partners with Bill Reichert of www.Garage.com
Prototype successfully launched with key customers in Switzerland.