On Thursday 28th September, we welcomed three startups at different stages of growth with equally interesting propositions. Pitch for Investment is a monthly online event which brings together startups and investors, live in front of an online audience.
Palco
Founder Leone defined Palco’s product Trivialo as a new generation lead magnet. They are developing a SaaS platform to help creators and retailers better understand the demographics of their followers and audiences using engaging custom games. With a product that was launched in late May, they already have a handful of loyal and paying customers.
Investor Andrew Coupe from Impulse 4 Women asked Palco about their go-to-market strategy and their use of investment. Palco mentioned that they just opened their funding round to raise $350,000 and are looking to develop their product and platform to improve and grow with creators and small businesses. When asked about their competitive advantage, Palco stated that it will be apparent after the current funding round after they have been able to invest in more differentiators.
My Fit Stories
The My Fit Stories app aims to bring people together through shared sports and exercise experiences to address the problems of increasing anxiety, depression, and loneliness. The CEO, David Catto introduced himself and outlined the mission of the company.
The conversation with investors touched upon the amount of sports covered within the app and whether it might be too broad. David mentioned that the company is already fully functional with a free version of the app. Its plan is to develop the premium version and develop team environments and compete with others. When it comes to investment, David said they were looking for £50,000 in initial investment with a view to focus on marketing and business development.
One Step Financial
David Putts, founder and CEO of One Step Financial shared the mission of his startup which is to improve the ROI (Return on Investment) of major global corporations, such as PepsiCo and Coca Cola, by streamlining their incentives onto an easy to control platform and reduce the costs associated with paying out incentives. The company aims to raise $1 million in their next stage to reach their next milestones and grow.
After a question about funding, David said that One Step Financial would be building a scalable product instead of having an environment for each client. The investors also asked about the customer acquisition process to which David talked about the Head of Product who has a good network of contacts together with a product-led strategy.
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