The marketplace offers smart matching of drivers and senders, as well as a safe payment system and insurance for the items being transported. On top, the platform has a rating system to make sure the system is trustworthy. By making sure service, information and guaranteed payment exist, everything is done effectively through BagHitch – no external sites or solutions are needed.
70% of shipments come from online purchases of bulky items, from marketplaces and auction houses. 30% of shipments come from individuals sending them from one place to another, or to the scrapyard.
A sender is either: a) a private individual who has purchased an item online and is in need of transport or b) a professional seller that recommends a client to use BagHitch for delivery.
Senders on average: 1.9 shipments last 5 months
A driver is either: a) private individual with empty space in the vehicle, or b) a professional driver.
Drivers on average: 4.4 pick-ups last 5 months
Transportation of bulky items is our core market (for now), from P2P market places and online auctions. Currently our main market is Sweden, but our ambition is to grow internationally soon.
Estimated Market Value
- Germany €1150 M
- France €880 M
- Netherlands €230 M
- Sweden €130 M
Of course, BagHitch also allows people to send items they would normally transport themselves, as the service suddenly makes it affordable to have someone else do it.
Today transportation is a jungle of companies, rules and regulations. There are a lot of companies offering transportation, but they are expensive, and reluctant to offer home delivery. In price comparison with DHL, Schenker, PostNord and Bring sending bulky items, BagHitch offer the lowest price and home delivery.
BagHitch is transparent when it comes to pricing; presents price immediately and adjust price in relation to attractiveness to drive an item. This is unique for the transportation sector.
It’s cheaper to send via BagHitch, it offers a high level of security, and you get the shipment to your door. As a driver everybody can take part, both professional drivers and interested amateurs, with the rating of drivers it is more important how you act and perform then your background.
BagHitch charges a service fee on all transports made, currently 15%. Future revenues will come from sales of added insurance coverage and partnership.
BagHitch has a website, which is the only platform people need. One site, one quick solution.
- Launch Alfa in October 2015 after extensive prototyping
- Signed a one of a kind P2P insurance for goods in transport
- Investment from VC Springfield
- Backing funding from Almi Business Partner
- 2.000 members
- 2.500 shipments inquieries (run rate yearly), +35% monthly
- +20% transaction/month
- 65 tons of CO2 saved, by smarter shipping and 37.000 kilometers not driven
- Press coverage in all major magazines in Sweden; DN, SvD, DI, Veckans Affärer
+ Car rental Hertz, www.hertzfreerider.se
+ Insurance company IF, www.if.se
+ Autionhouse Effecta, www.byraneffecta.se
+ Autionhouse Bålsta Auktionshall, www.baltaauktionshall.s
+ Marketplace Familjefynd
+ Marketplace Got2Get
Strengthening the current partnership base and increase the number of partnerships. Our partners customers wants us. We can increase the service level for partners with an easy integration with our system
Number of partnerships, forecast
Driver user experience. A better driver user experience will create opportunities for increased number of drivers to join as the system is easily integrated in their daily work
Number of active drivers, forecast
A combination of capital from investors and loans during 2015 financed testing, market research and the launch of the current platform. A small and agile team has shown that a lot can be achieved during a short period of time.
In order to create value to our users, a number of partnerships has been created. To name a few; Hertz, Bålsta Auktionshall, Effecta, Got2Get. All these partners focus on making the actual transportation of items seamless for the customers.
The investments will mainly go towards:
1) Product development
2) Implement services
We believe that BagHitch can change the transportation industry. We are financially stable and are open for future acquisition or an IPO.
BagHitch have shown that consumers are in need of (and demand!) new ways of transportation. Together we can build something great on a white spot in a market worth billions
Want to get in touch before investing? Don’t hesitate to call or e-mail; firstname.lastname@example.org +46 708 338897