📍Every week we dig deep on 5 new #startups that announced their #seed funding last week.
Meet @MarooWedding🤵👰. Raised $3 mill. Remote-based. Think @faire_wholesale for the wedding industry.
A thread👇
Meet @MarooWedding🤵👰. Raised $3 mill. Remote-based. Think @faire_wholesale for the wedding industry.
A thread👇
Fintech company in the wedding space.
- Problem: couples going into a pile of credit debt from their wedding.
- Solution: A Buy Now Pay Later solution.
- Market: Niche, but big. Figures indicate a +$50bn market in the US alone. In 2020 there were 1,267,877 marriages in US.
- Problem: couples going into a pile of credit debt from their wedding.
- Solution: A Buy Now Pay Later solution.
- Market: Niche, but big. Figures indicate a +$50bn market in the US alone. In 2020 there were 1,267,877 marriages in US.
@MarooWedding is sitting as an intermediary between the couple and the wedding service providers and providing the cashflow. They pay the service providers on behalf of the couple instantly. The couple then repays Maroo on a payment plan up to 24 months with 0% APR.
How does @MarooWedding make money?💰 They charge the service providers 10% of each invoice.
Road to $100 mill run rate: With a $20.3K average spend on marriages in the US, they need to capture around 4% of the market.
Road to $100 mill run rate: With a $20.3K average spend on marriages in the US, they need to capture around 4% of the market.
What do we like about this company?
Niche market but large.
Solving pain points on both sides of the market; removes high-interest rate credit debt for the couple while offering payment guarantee, improved cash flow, access to leads and higher sales conversion for the business
Niche market but large.
Solving pain points on both sides of the market; removes high-interest rate credit debt for the couple while offering payment guarantee, improved cash flow, access to leads and higher sales conversion for the business
What more do we like?
Solid founder team with experience from #fintech (@RevolutApp ) and the #wedding industry as well as core technical skills.
Challenges?
General marketplace dynamics. Figures indicate that it is a declining market. Fewer weddings, lower average spend.
Solid founder team with experience from #fintech (@RevolutApp ) and the #wedding industry as well as core technical skills.
Challenges?
General marketplace dynamics. Figures indicate that it is a declining market. Fewer weddings, lower average spend.
👉Want to get the full 1-page summary as well as similar 1-page memos on @Peritus_AI, @useascend, @paretosai, and @FolkHQ? Then subscribe to our free weekly newsletter at polyseed.io.📩
• • •
Missing some Tweet in this thread? You can try to
force a refresh
