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This is an opportunity to invest in a fast growing and dynamic startup in advance of a closed Series A with institutional investors. After over 2 years of operation, ChefXChange has become THE online destination for Culinary Experiences. With over 1500 registered Chefs on the platform, from amateur to profe ... see more.
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This is an opportunity to invest in a fast growing and dynamic startup in advance of a closed Series A with institutional investors. After over 2 years of operation, ChefXChange has become THE online destination for Culinary Experiences. With over 1500 registered Chefs on the platform, from amateur to professional, presence in 4 cities (Dubai, London, Beirut, Washington DC), we are going after a piece of the $3.2+ trillion global F&B market ($187bn in ME and Africa). We are now looking to enter the rest of the GCC as well as launch our new Home Cooked Meals Subscription service in Dubai and London. In the past 2 years, we have served over 8500 meals, made it on the Forbes 100 List of Most Successful Start ups in the Arab World, and have won the F&B Disruptor of the Year Award in 2017.
ChefXChange is an online platform where in just a few clicks, you can find any type of Culinary Experiences you are after.
With over USD750k of revenues generated since inception, ChefXChange is now going after the home cooked meal subscription service and launched it in Beirut in October 2017, acquiring over 3k users since.We have also won the FB Disruptor of the Year Award, and made it on Forbes Top 100 start ups in the Arab World.
Key KPIs that we expect this and the follow-on Series A Investment to yield:
Looking to have a unique private dining experience? To learn how to cook? To get home cooked meals delivered to you? Say no more, we have got you covered...ChefXChange is an online platform, where in just a few clicks, you can find any type of Culinary Experiences you are after. From booking a Private Chef for your next gathering, to learning how to cook and booking a cooking class, to getting a Chef consultant to launch your new restaurant idea, to our newly launched Home Cooked Meal service that permits you to get delicious homey meals at home or the office on a weekly basis.
With over 1500 registered Chefs on the platform, from amateur to professional, presence in 4 cities (Dubai, London, Beirut, Washington DC), we are going after a piece of the $3.2+ trillion global F&B market ($187bn in ME and Africa).
USE OF FUNDSProduct: Hire a CTO and build an app to increase customer retention and repeat rate.Marketing: launching home-cooked meal service in Dubai and London, where we are already present, as well as launching ChefXChange services in Kuwait and Qatar.Business Development: build sales and support team for new home-cooked meal service.
There has been considerable activity in the Food tech space in 2017 with multiple acquisitions disclosed including Zomato acquiring TinMen (Home Cooked Meals Delivery) in Sept 2017. VizEat acquiring EatWith (Home Cooked gatherings) in Sept 2017 as well as others making up over USD5.7BN in M&A activity in Food&Tech. ChefXChange is actively positioning to be a target, by focusing on building saleable and valuable individual assets (customer lists, chef lists, blog and technology) as well as continuing to build a brand and business that will be valuable and profitable as a whole. We have built B2B relationships with biggest Concierge services and Premium Short rental brands such as Quintessentially, Amex Centurion, Luxury Retreats as well as maintained active conversations with competitors in the space so that when the time comes to consolidate a position, either by us or by one of our competitors, we are ready.
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Eureeca will record all relevant details of the complaint in the firm’s complaints register for internal record purposes. If the complaint cannot be resolved within 30 days, the complainant should be provided with a progress report which includes details as to why the complaint has not been resolved and when the complainant can expect a resolution. Keep in mind that the past performance of any investment is not necessarily indicative of future results. You should only commit money that you can afford to lose to any investment on our website. Private company investments are not for everyone and entail risks that are different from more traditional investments. You should obtain investment and tax advice from your advisers before deciding to invest. Eureeca does not provide any investment, legal or tax advice and will not have any liability for any legal, investment or tax issues in connection with any investment you decide to make.
The Entrepreneurs listed on our Website are private companies. When considering investing in private companies, you must take into account the following risks:
Your investment may lose value - The Entrepreneurs that you may invest in through our Website are private start-up, early-stage or small to medium sized companies that are looking to launch a product or service and may not have a proven track record.
Your investments are illiquid – By definition, there is no public market for private companies and there may never be a market for the shares in the Entrepreneurs in which you decide to invest. Accordingly, you may not be able to sell these shares or realize any profit (even a return of capital) from any investment that you make.
Private companies are not required to report on their financial status like public companies – While the Entrepreneurs that list on our Website will commit to us to regularly update shareholders regarding their performance through our Website, there is no guarantee that they will adhere to this commitment and we do not guarantee that we will take action against them if they fail to so adhere.
Private companies are not subject to the same regulatory requirements as a public company - When a company goes public they are required to disclose specific information and adhere to strict regulations with regard to their actions, disclosure and corporate governance. The Entrepreneurs listed on our Website are not subject to the same requirements.
Voting rights and other Pitch terms – You should read the terms of any Pitch carefully in order to understand what rights are being granted by the Entrepreneurs in which you choose to invest. In the majority of cases, the number of shares being offered by Entrepreneurs will not reach the threshold required to allow such shares to influence any decisions or corporate actions taken by the Entrepreneurs. Entrepreneurs may not offer any minority shareholder rights (such as tag along, drag along, veto rights or anti-dilution rights) and even if they do offer such rights, there is no guarantee that these rights are legally enforceable or that you will have any recourse against the Entrepreneur in the event that they fail to honor any of the rights granted. While Eureeca will make every effort to ensure that Entrepreneurs adhere to the Pitch terms following Closing of any Pitch, Eureeca will not be liable to you for any failure by the Entrepreneur to do so.
Disclosure in the Pitch – A well prepared Pitch will describe the various risks and conflicts of interest relating to the Entrepreneur, the Pitch and the Entrepreneur’s operations and we will guide the Entrepreneurs to assist them in preparing full and fair disclosure of all risks in their Pitch. However, we have no ability to assess whether all such risks have been accurately described or disclosed and will not have any responsibility for any failure to do so. Before making any investment decisions, you should fully assess the risks attached to any investment and should query any matters where you feel inadequate risk disclosure has been made.
Business Failure Rates – You may assess the actual and expected failure rates of businesses on the platform by clicking here.
Complaints Process – If a client has any complaints or queries about the services provided by Eureeca or in relation to the Eureeca Platform, they should contact us on contactus@eureeca.com
A complaint must include:
(i) the Client’s name and surname
(ii) the Client’s User ID
(iii) the affected transaction number(s), if applicable
(iv) the date and time that the issue arose, and
(v) an accurate description of the issue.
Upon receiving information about the complaint, Eureeca will write to the complainant to acknowledge that the complaint has been recorded and is receiving the firm’s attention within 48 hours of receipt of being notified of the complaint.
Eureeca will nominate a person who is not directly involved in the matter to carry out an investigation (the complaint officer).
Within 30 days of the complaint, Eureeca shall write to the complainant to explain the firm’s views on the matter and the action, if any, it proposes to take.
Eureeca will record all relevant details of the complaint in the firm’s complaints register for internal record purposes.
If the complaint cannot be resolved within 30 days, the complainant should be provided with a progress report which includes details as to why the complaint has not been resolved and when the complainant can expect a resolution.
Keep in mind that the past performance of any investment is not necessarily indicative of future results. You should only commit money that you can afford to lose to any investment on our website. Private company investments are not for everyone and entail risks that are different from more traditional investments. You should obtain investment and tax advice from your advisers before deciding to invest. Eureeca does not provide any investment, legal or tax advice and will not have any liability for any legal, investment or tax issues in connection with any investment you decide to make.
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The proposal "ChefXchange" is open for trading via Eureecas Secondary Market
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