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mnyou - mobile payment platform

Investment or outright purchase; Auckland

$1,500,000 - $2,000,000 (subject to purchase option) - Auckland

#200121

detail

mnyou  (www.mnyou.co.nz) is a mobile payments platform, initially targeted at hospitality to create a better in venue dining experiences. Their target market is busy gastro pubs where socialising is the focus, not standing in queues waiting.

mnyou have proven the concept, demonstrated success and technical reliability and are ready to take the business to the next level.

Their system architecture was developed with flexibility in mind. Their API and product cataglogue structure are able to be applied to many verticals.

The commercial model is to take a small percentage of the transaction fee, mnyou then cover the cost of processing the transaction and take a margin to run the platform and business. Through their reporting system mnyou provide customer loyalty metrics to the venues to measure their marketing efforts.

This reporting is currently provided free of charge as a value add.

Highlights

Mobile payments platform for in-venue dining

  • $1M processed transaction volume
  • >18,000 users in New Zealand
  • 3 apps, (mobile, front of house, back of house)
  • Supported hospitality venues to create new takeaway offerings and meet level 2 & 3 requirements during lockdown periods

mnyou has now passed the trial period and have proved the concept through its commercialisation. Their view is that the core product could have multiple applications and revenue streams through 'white labelling' and the collection and analysis of consumer date. As such, the Directors have decided to raise capital to expedite this process.

The Offer

Option 1 - Through the issue of new shares, the Directors are looking to raise $1,500,000 for 37.5% of the company. Thus making the post money valuation $4,000,000.

Option 2 - Outright purchase of 100% of the current shares at a cost of $2,000,000. This may appeal to an organisation that can merge mnyuou into their current structure. The Founder and CTO are willing to remain with the company if required by the purchaser.



Contact: Alex Smith
Office: Auckland

Confidentiality Agreement for Business Reference 200121, Broker Name Alex Smith

Between Tabak Business Sales and the Interested Party.  The Interested Party must be an individual's name, NOT a company name.

In consideration of Tabak Business Sales (being any or all of Tabak Ltd (Licensed under REA 2008) and/or Tabak Business Sales Limited (Licensed under REA 2008) and their respective business brokers) entering into discussions relating to the possible acquisition of the assets or shares of any business(es) presented to me by Tabak Business Sales and specifically the business referenced above, I/We hereby agree and undertake as follows:

  1. To treat as totally confidential the identity of the business(es) disclosed to me and any details as to its operation or financial accounts;
  2. I acknowledge that the financial records, customer and supplier details and other information relating to the business to be disclosed to me shall at all times remain the sole and exclusive property of the Vendor and that such information is of competitive value and of a confidential nature and that loss or damage would be sustained by the Vendor if such information should be used or divulged by me for any purpose other than the evaluation of the purchase of the business or should it become into the possession of an unauthorised third party;
  3. Not to disclose the identity or any details of the operation or financial accounts to any third party (except my accountant or legal advisor who shall agree to respect this requirement for confidentiality) unless expressly authorised in writing by the Vendor or by Tabak Business Sales;
  4. Not to make an approach to the Vendor of any business disclosed to me by Tabak Business Sales, or the business' staff, customers or suppliers without prior arrangement with Tabak Business Sales and to refer all queries through Tabak Business Sales;
  5. We acknowledge that Tabak Business Sales is the introducing agent, and that all offers and deposits for the business, shares or property will be conducted through that office;
  6. If, I as a potential buyer breach clause 4 of this agreement and buy directly or indirectly this business from the Vendor of the business quoted then I the buyer will be responsible for any loss of commission due to Tabak Ltd (Licensed under REA 2008) and/or Tabak Business Sales Limited (Licensed under REA 2008) as the case may be;
  7. If, I as a potential buyer breach clause 1, 2 or 3 of this agreement I undertake to indemnify Tabak Business Sales against any actions, proceedings, costs, claims, demands or liabilities which you may suffer in consequence of that breach;
  8. That all information is received for no other purpose than the evaluation of the investment potential of the business;
  9. If I decide not to proceed with the investment, I agree to immediately return to Tabak Business Sales all written information supplied by it and retain no copies and to delete any electronic records including all emails and attachments relating to the business(es);
  10. Acceptance by Electronic Mail: Execution of this Agreement and transmission between the parties by electronic signature and email response each to the other or their representative will constitute offer and acceptance and satisfy the requirements of Section 5 of the Electronic Transactions Act 2002.
  11. Privity: For the purposes of Part 2, Subpart 1 of the Contract and Commercial Law Act 2017, the parties acknowledge and agree that the agreements and undertakings given by the recipient in this Confidentiality Agreement are given for the benefit of the Vendor and its related companies and representatives, and are enforceable at the suit of all or any of them.

Before proceeding with this Confidentiality Agreement, it is recommended that any prospective purchaser

  1. seeks legal advice.
  2. may or may need to seek technical or other advice and information.
  3. review Tabak Business Sales’ internal process in relation to any complaints.  A copy of these can be found here.
Mandatory Fields*