About

Mr Pengu’s revolutionary mobile app allows you to order...almost anything, anytime, fast and easy! Ideally designed for everyday purchases, Mr. Pengu is an on-demand delivery app available through the App Store or Google Play and employs an organised network of drivers and riders, ready to deliver the product you were looking for at the requested address, within 30 minutes. Recognising and respecting the importance of time, Mr. Pengu innovates by offering on-demand delivery 24 hours a day through innovative mobile technology. Through the app you may order any type of product navigating through pre-determined categories, such as groceries, pharmaceuticals, mini-market products, gifts and shops and courier services. The categories help you decide what you want, but the real innovation of Mr. Pengu lies in its 'anything' approach; you can write a text, send a photo or a voice message of your preferred product and our drivers will locate it and deliver in under 30 minutes!

Solution & Product

Mr. Pengu revolutionises online delivery, by becoming a household name for anything at anytime and anywhere the user may request, becoming the customer's necessary helping hand in going about everyday life. Existing apps place restrictions both on the consumer (he can order what he wants only from partner stores of the application) and on the employee-driver (specific activities without the prospect of development). Covid-19 has also highlighted the need for online shopping as an alternative to lockdown periods. Users can request any purchase from any store and not just choose from partner stores as in all other applications. The app works in 5 easy steps: download, location, choose, pay and track. The platform is designed not only to serve daily shopping needs, but to also act as a trusted partner to local businesses, which are unable to offer delivery and/or courier services.

Innovation & Scalability

Mr.Pengu has an innovative business model which is applied to a new technology produced in-house for on-demand delivery. The start-up specialises in fast delivery under 30 minutes; the time factor is crucial for the competitiveness of the idea. The app enables the client to choose himself what product or service he wants with three different ways: describe it, send a photo or voice message and does not list any shops or have affiliation partnerships, establishing the company as viable due to the absence of a financial dependency with the retail work. The technology connects the Control Centre with each driver, with a unique POS system monitoring the pick-up and drop-off procedure. Furthermore, the company does not use any logistics but delivers immediately, which means that the operational costs are also kept at a minimum. The full development of the application follows the same model and the same design as the original application, which is already in operation. The only aspect of differentiation concerns the network of drivers which changes according to the needs of geographical coverage of each market and, possibly, the addition of new categories if there is strong consumer demand. As part of its immediate plans for future development, a scaling scheme is presented which concerns Greece, Cyprus and the Balkans. The specific markets have been selected for their expansion dynamics and the high percentage of smartphone users.

Traction & achievements

The course of the company's revenues shows an upward trend. After the beta testing of the app and its improvement in 2020, the company expanded the body of drivers in order to enter the market with more vigour and offer services to all areas of Athens and Thessaloniki. It also expanded its range of services, achieving a high order efficiency index, over 95%. In 2021 our revenues will reach approximately €278,523 with an increase of 187% compared to €96,974 of 2020 that we started to launch our service. In September 2020, we signed an initial agreement with the company Nobacco S.A about 55 orders per day with an annual revenue of about € 45,000 and with a plan in 2022 to reach 100 per day. In June 2021, Mr. Pengu signed an agreement with LEO Riders Ltd, which brings to the company a guaranteed income of € 120,000 per year. The specific collaborations are an important step as the company has managed to catch the goals of 2021 and 2022 in early 2021.

Team & Why Us

Mr. Pengu is already in operation, proving that its operational model works successfully already. The in-house team is knowledgeable and has executed with success the launch of the app in Athens and Thessaloniki, with a positive track record, both in terms of operation and in terms of customer service. The company has developed a five-year business plan with estimated forecasts and scalability scenarios, demonstrating the dynamism and potential of the app. CEO: Giorgos Andritsos is an established entrepreneur with multi-year experience in setting up new ideas and investing in them to flourish. His role is to manage the overall operations of Mr. Pengu and ensure the business remains a profitable venture. CFO: The company's CFO is responsible for managing the financial actions of the company, including tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions. He has over 10 years experience in the field. COO: Mr. Pengu's COO oversees the day-to-day administrative and operational functions of a business. Strategy and Marketing: Strategy and Marketing are responsible for developing a solid business development and marketing plan in order to maximise exposure, brand awareness and brand equity. Software Developers: our team of software developers has more than 10 year experience in IT development and software launch.

Funding Needs

To be able to accelerate the growth of the company and meet capital needs, the company requires an initial investment of €3 million, to increase primarily the total number of drivers and to be able to design a proper advertising campaign to attract new users and orders. The company needs to configure its workforce in order to be able to cope with the increased volume of orders. To implement first substantial and holistic marketing campaign, the company must be ready at all levels to serve the increased volume of orders, which will result from the advertising of the mobile app. The main goal of the requested investment is to lead the company to a plan including 300 drivers, 12,000 daily orders and 4,384,000 annual orders. The estimated turnover is forecasted at 4,384,000 orders x €7 (average per order) = €30,660,000. The cost of payroll is estimated at €4,116,080, the operating costs at €1,384,456 and advertising costs at a rate of 15% on the turnover € and which amounts to €6,504,300. Turnover - operating expenses - payroll - advertising = ebitda €18,655,158.