Question 1

Can a retailer adopt Parvenu using the traditional yes/no if they don’t want to use pre-check?

Accepted Answer

Yes, if a retailer doesn’t want to use Pre-Check they can choose to use a yes/no ask; however, Pre-Check reduces checkout times for retailers. Traditional yes/no asks are done on a separate screen that adds additional time to checkout, while Pre-Check combines the donation screen and payment screen into a single screen and shortens customer wait times.

Question 2

How long was the pre-check trial and how many customers did it use?

Accepted Answer

Our test had 1 retail customer and used 5 chain locations. We did testing at 2 chain locations in January and February and after seeing initial success, we expanded into 3 additional chain locations for February and March. There were 740 paying customers.

Question 3

Over what period of time did Pennies raise the 17 million? Do they use a pre-check model?

Accepted Answer

Thank you for your questions! Pennies raised $17 million over 8 years and they are continuously growing. They recently raised over half a million pounds in a single month in December 2017. They have not used Pre-Check, and we aim to build on their success with Pre-Check and AI-based personalization to make the causes displayed more relevant to the shopper.

Question 4

What's your exit plan?

Accepted Answer

Hi Baron! Exit strategy is a very important question, and I'm excited to say that we have many more options available to us than the average startup company. This is because we operate at the intersection of so many industries: retail, nonprofit, big data, marketing, and FinTech. The path we have laid out is to use our seed funds to build, test, iterate, and deploy. We will scale quickly through distributors. Distributors will enable our platform to infiltrate many stores at a time, which ecl...

Question 5

Is above device designed and made by you ? Will it be installed at all places or is it just software ?

Accepted Answer

The best part of Parvenu's platform is that it works with any point of sale system! There's no need for a retailer to replace their existing hardware and our software works with Verifone, Ingencio, Square, or any other POS system! We sell to retailers and our platform is incredibly scalable. When we get into a CVS, we get into all CVSs. Thanks for your question Arvind! I'd love to have you join our cause and become an investor in Parvenu today!

Parvenu

Raising More Money for Charity Through Artificial Intelligence

Never miss an update

Updates

Parvenu

Quick facts

Team profiles

Never miss an update

Updates