Tuipoint International Limited

By Tuipoint

video

PledgeMe.Investment

Technology,



NZ $5,000 pledged


4 people pledged


22 days left


NZ $100,000 minimum target


Min

NZ$100,000

Max

NZ$700,000

5 5% Complete

Pledges will only be confirmed if the target is reached by: 16/12/2020 at 5:00 PM (NZDT)

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About

Tuipoint International Limited


Say goodbye to long frustrating waits at the barber. No more missing the game while waiting in line for a pie and a beer. Say hello to getting your time back.

New Zealand tech start-up, Tuipoint, is a smart queuing app that allows customers to pre-book their queue placement and also prepay for services. Originally built for barbers, the app is now in demand for many businesses struggling with long queues and waiting times, as well as those businesses adapting to new social distancing requirements.

Tuipoint has been developing, testing and operating successfully in busy barber shops in both New Zealand and the United Kingdom for the past two years. During this time (slowed down by covid-19) we have worked closely with several barber shop owners to improve the customer experience. “Let your phone queue for you” quickly became our catch phrase and has generated significant enquiry from a variety of businesses where customers currently have to physically queue.

Ultimately we plan to expand our footprint around the world, and in many different sectors, while continuing to develop and enhance the platform.

In addition to barber shops, we are establishing a presence in coffee shops and are actively pursuing our growth strategy to integrate with cafes, nail salons and hair & beauty salons with beauticians, tattooists and personal trainers.

And recently, Tuipoint has partnered with Stack-Cup UK to develop an exciting offering for stadiums and festivals. Stack-Cup provides a 100% recyclable cup and integrating the Tuipoint App will enable customers to purchase food and beverages through our platform and pick up their order, you guessed it, without having to queue!

We are currently planning our expansion into other sectors where the frustration of queueing for long periods is the "old" way of doing business, including Medical Centres, Covid-19 Testing & Vaccination Centres, Government Organisations such as Work and Income New Zealand, as well as queuing drivers for vehicle fitness checks, servicing and repairs.

Smart queuing doesn’t just mean our App is clever.

We are using smart technologies to give the customer the ultimate experience. Not all customers want to download an App so our solution uses two different methods of letting customers queue via our Web App. Their phones camera can be used to scan a QR code (just like the ones used for the NZ Government's Covid-19 tracking system) and this will open our web page for that business.

Similarly they can also tap their phone on a NFC (Near-Field Communication) sticker or tag and once again their device will open on our web page for the business. NFC technology powers contactless payments via mobile wallets like Apple Pay, Android Pay, as well as contactless cards. Customers would only be required to Register on their first use.

Additionally, we are ready to deploy geo-fencing technology which is a virtual perimeter for a real-world geographic area. A geo-fence could be dynamically generated—as in a radius around a point location, or a geo-fence can be a predefined set of boundaries which we use to trigger an action (start to prepare their coffee) as a customer is coming to pick up their coffee, get a haircut or get their nails done.

Other future plans that will reduce our ongoing transaction costs include the development or acquisition of an EPOS Solution (Electronic Point Of Sale) and Payment Gateway.

VIEW OUR INFORMATION MEMORANDUM HERE


 

Investment Summary

Tuipoint International Limited is seeking to raise up to $700,000 of investment capital to help us grow our exciting virtual queuing business, first in New Zealand and the United Kingdom, and then throughout the world.

Our aim is to raise $700,000 through crowdfunding investors. As part of the total raise, we are seeking up to $200,000 through wholesale investors.

The rigorous development of the App and backend technology has been done. New investor funds we will be mostly used to grow our business through sales and online marketing initiatives targeting both business and consumer channels.

Class A - Ordinary Shares

Ordinary Shares to issue to wholesale investors shall have the same rights attaching to them as the existing shareholders in the company including the right to vote at shareholders meetings. The minimum offer for Ordinary Shares has been set at 40,000 shares. Wholesale investors must submit a completed certificate confirming the applicant’s status as a wholesale investor as defined in clause 3 of schedule 1 of the Financial Markets Conduct Act 2013, and must sign Tuipoint International Limited’s shareholders’ agreement. A copy is available on request.

Class A shares, as a result of this capital raising, will not exceed more than 5 shareholders.

Class B - Investor Shares

Investor Shares shall carry limited voting rights at shareholders meetings but in all other respects carry the same rights as Class A shares. The maximum any one investor can invest via the crowdfunding campaign is $20,000 (equivalent to 2.8% of the maximum crowdfunding investor capital raising).

VIEW OUR INFORMATION MEMORANDUM HERE

Use of Funds

As can be seen above, the minimum investment will be used mostly for sales and marketing, as Tuipoint will continue to leverage its collaborative partnerships within key sectors.

Investment above the minimum will enable the acceleration of additional sales at an earlier stage.

In the table above, ‘working capital’ includes overhead expenses, employee wages and other costs. As at the date of this offer Directors are not paid however if Tuipoint appoints an independent Director, fees may be required to be paid.

Other than as specified above, no payments from the funds raised will be made (directly or indirectly) to related parties or controlling shareholders.

 

Milestones

 

Our Team

Opportunities

We are currently targeting the following sectors in New Zealand and the United Kingdom. Australia and the United States are to follow shortly.

VIEW OUR INFORMATION MEMORANDUM HERE

Major growth opportunities we are focused on:

Medical Centres

Remove the frustration of having patients sitting in an often crowded waiting room by holding them, for example, at home or work until the App notifies them to head to the clinic. They will be able to choose between a physical consult, phone or video consultation. They can also prepay in the App for a seamless experience.

Covid-19 Testing & Vaccine Stations

Remove the frustration of patients sitting in cars, causing congestion and a traffic hazard, while not knowing how long the wait will be, patients would be held at home until the App notifies them to head to the Testing or Vaccine Station.

Government

As social needs continue to increase in these uncertain times, people are forced to physically queue, sometimes for hours, outside of Government organisations such as Work and Income New Zealand, our App will eliminate the very real stories of joining physical queues at 2am and reduce long wait times.

Stadiums and Festivals

Make the most of that pre-match rush by enabling fans to order and pay from their own device, in their own time. Enable in seat ordering and delivery or with a simple designated collection point, you’ll see a huge reduction in waiting at tills and a corresponding increase in orders.

Restaurants

Help your customers find exactly what they want, fast, with their own personal ordering kiosk — removing queues and speeding up the order process. Increase revenues through smart recommendations and upsells.

Pubs and Bars

Remove the scrum at the bar by enabling your customers to order from their table or collect their order from a collection point. Make it easier for regulars to re-order their usual, with saved last orders and make it even easier for customers to get in that extra round.

Coffee Shops

Serve more customers in less time. Reduce queues at tills, watch loyalty increase and with order-at-table help your customers ease back into the new normal by letting them use your café as a second home or office.

Tattoo, Beauty and Nail Salons

Give your customers the choice to join a virtual queue from anywhere, without having to physically visit the business. Stay informed of their position in the queue and get reminders so they can just show up when it’s their turn.

Vehicle WOF/COF servicing and repairs

Queue your customers for Warrant of Fitness checks, regular maintenance and service repairs without the need to drop the vehicle off at the start of the day, organise loan vehicles or a pick up and collect at the end of the day.

 

In the Media

 

Key Risks 

As with any business, Tuipoint faces many potential risks from changing technologies, competition and execution risks around the implementation of our growth strategies. We have outlined these risks in detail in our Information Memorandum.

VIEW OUR INFORMATION MEMORANDUM HERE

Company Details

Tuipoint International Limited

Company Number: 1561115
NZBN: 9429035158417

Registered Office: 73 Kauri Road, Stanmore Bay,
Whangaparaoa 0932, New Zealand

Website: www.tuipoint.com

For further information or to discuss this investment opportunity:
Email: [email protected]
Call: 0276 414 887

A Note from PledgeMe

We have completed Veda checks on Tuipoint International Limited, and their Directors, as well as Google checks. There were no adverse findings.

Updates

Hey! Thanks for checking out this project.

We haven't made any updates yet, follow us if you want to be notified when we do.

Details

Offer Details

Current Valuation 5,250,000
Raise Minimum 100,000
Raise Maximum 700,000
Share Price 1.00
Maximum Shares Offered 700,000
Explanation of valuation:

The valuation was undertaken by the Chief Financial Officer in conjunction with the Board of Directors using a variety of valuation methodologies and has been reviewed by our Key Advisors.

A valuation of $5,250,000 was derived using the Checklist method.

Under the VC method, Tuipoint is valued at $6,872,120.

Using the Comparative Transactions method, a similar but distinctly different pre-revenue App called Fetch had a pre-money valuation of £7,500,000 (NZ$14,358,083). It recently raised £909,930 (NZ$ 1,744,417), 640% of its target raise, on a major UK equity crowdfunding platform.

As the Company is a startup SAAS App Development Company operating in a unique industry it is difficult to perform a comparative analysis against similar companies in New Zealand and around the world.

Given the subjective nature of valuations and limited number of comparable transactions, the Board has adopted the lower of the three valuation methods presented above. The valuation represents 1.3x FY23 projected EBITDA and 4.7x FY22 projected revenues (our first full year operating).

Development and Testing
Tuipoint is essentially pre-revenue however we have thoroughly developed and tested our working App in 38 live environments over two years. In most cases, during our exhaustive testing, we have primarily offered our App to businesses at no charge or a basic subscription. Because of delays and business closures due to COVID-19 through much of 2020, we expect the majority of our test customers to convert to paying customers by the end of the 2020 or early 2021.

We currently have 13 revenue earning customers as at the date of this offer.

Financial Summary

Prev Year Current Year Est. FY 2022 Est. FY 2023
Revenue NZ $0 NZ $49,422 NZ $1,110,874 NZ $7,604,880
Operating Expenses NZ $0 NZ $307,041 NZ $1,266,568 NZ $3,565,739
EBITDA NZ $0 -NZ $257,619 -NZ $155,614 NZ $4,039,141
Net Profit NZ $0 -NZ $257,619 -NZ $162,694 NZ $3,005,709

Company Details

Company Name: Tuipoint International Limited

Company Number: 1561115

Company details are currently being synced with the Companies Office, please wait.

Company Documents

Tuipoint_Constitution.pdf

(application/pdf, 582 KB, uploaded 20 November 2020)

CertIncorporation_Tuipoint_22November2020.pdf

(application/pdf, 588 KB, uploaded 22 November 2020)

CompanyExtract_Tuipoint_22November2020.pdf

(application/pdf, 745 KB, uploaded 22 November 2020)

FINAL_TUIPOINT_IM_NOV_2020.pdf

(application/pdf, 957 KB, uploaded 23 November 2020)

Director Details

Name Role Profile URL Invested?
Matthew Brooks Executive Director / Founder / CEO https://app.companiesoffice.govt.nz/companies/app/service/services/documents/0009685EFD55359CA476019CFA4E44BD
Victoria Brooks Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/D04987796B860194D449BDE1C6C5AA8B
Prudence Lamerton Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/B3DB8054643A8A25464DE4E77D5DAEBC

Questions

Ask a Question (You must login to ask a question)

Pledgers 4

Sue edwards
2020-11-23 21:12:15 +1300
Clare Wellington
2020-11-23 20:13:16 +1300
Laura Wellington
2020-11-23 17:31:52 +1300
Jane Bell - PledgeMe Delivery Facilitator
2020-11-23 10:22:15 +1300

Tuipoint International Limited


Say goodbye to long frustrating waits at the barber. No more missing the game while waiting in line for a pie and a beer. Say hello to getting your time back.

New Zealand tech start-up, Tuipoint, is a smart queuing app that allows customers to pre-book their queue placement and also prepay for services. Originally built for barbers, the app is now in demand for many businesses struggling with long queues and waiting times, as well as those businesses adapting to new social distancing requirements.

Tuipoint has been developing, testing and operating successfully in busy barber shops in both New Zealand and the United Kingdom for the past two years. During this time (slowed down by covid-19) we have worked closely with several barber shop owners to improve the customer experience. “Let your phone queue for you” quickly became our catch phrase and has generated significant enquiry from a variety of businesses where customers currently have to physically queue.

Ultimately we plan to expand our footprint around the world, and in many different sectors, while continuing to develop and enhance the platform.

In addition to barber shops, we are establishing a presence in coffee shops and are actively pursuing our growth strategy to integrate with cafes, nail salons and hair & beauty salons with beauticians, tattooists and personal trainers.

And recently, Tuipoint has partnered with Stack-Cup UK to develop an exciting offering for stadiums and festivals. Stack-Cup provides a 100% recyclable cup and integrating the Tuipoint App will enable customers to purchase food and beverages through our platform and pick up their order, you guessed it, without having to queue!

We are currently planning our expansion into other sectors where the frustration of queueing for long periods is the "old" way of doing business, including Medical Centres, Covid-19 Testing & Vaccination Centres, Government Organisations such as Work and Income New Zealand, as well as queuing drivers for vehicle fitness checks, servicing and repairs.

Smart queuing doesn’t just mean our App is clever.

We are using smart technologies to give the customer the ultimate experience. Not all customers want to download an App so our solution uses two different methods of letting customers queue via our Web App. Their phones camera can be used to scan a QR code (just like the ones used for the NZ Government's Covid-19 tracking system) and this will open our web page for that business.

Similarly they can also tap their phone on a NFC (Near-Field Communication) sticker or tag and once again their device will open on our web page for the business. NFC technology powers contactless payments via mobile wallets like Apple Pay, Android Pay, as well as contactless cards. Customers would only be required to Register on their first use.

Additionally, we are ready to deploy geo-fencing technology which is a virtual perimeter for a real-world geographic area. A geo-fence could be dynamically generated—as in a radius around a point location, or a geo-fence can be a predefined set of boundaries which we use to trigger an action (start to prepare their coffee) as a customer is coming to pick up their coffee, get a haircut or get their nails done.

Other future plans that will reduce our ongoing transaction costs include the development or acquisition of an EPOS Solution (Electronic Point Of Sale) and Payment Gateway.

VIEW OUR INFORMATION MEMORANDUM HERE


 

Investment Summary

Tuipoint International Limited is seeking to raise up to $700,000 of investment capital to help us grow our exciting virtual queuing business, first in New Zealand and the United Kingdom, and then throughout the world.

Our aim is to raise $700,000 through crowdfunding investors. As part of the total raise, we are seeking up to $200,000 through wholesale investors.

The rigorous development of the App and backend technology has been done. New investor funds we will be mostly used to grow our business through sales and online marketing initiatives targeting both business and consumer channels.

Class A - Ordinary Shares

Ordinary Shares to issue to wholesale investors shall have the same rights attaching to them as the existing shareholders in the company including the right to vote at shareholders meetings. The minimum offer for Ordinary Shares has been set at 40,000 shares. Wholesale investors must submit a completed certificate confirming the applicant’s status as a wholesale investor as defined in clause 3 of schedule 1 of the Financial Markets Conduct Act 2013, and must sign Tuipoint International Limited’s shareholders’ agreement. A copy is available on request.

Class A shares, as a result of this capital raising, will not exceed more than 5 shareholders.

Class B - Investor Shares

Investor Shares shall carry limited voting rights at shareholders meetings but in all other respects carry the same rights as Class A shares. The maximum any one investor can invest via the crowdfunding campaign is $20,000 (equivalent to 2.8% of the maximum crowdfunding investor capital raising).

VIEW OUR INFORMATION MEMORANDUM HERE

Use of Funds

As can be seen above, the minimum investment will be used mostly for sales and marketing, as Tuipoint will continue to leverage its collaborative partnerships within key sectors.

Investment above the minimum will enable the acceleration of additional sales at an earlier stage.

In the table above, ‘working capital’ includes overhead expenses, employee wages and other costs. As at the date of this offer Directors are not paid however if Tuipoint appoints an independent Director, fees may be required to be paid.

Other than as specified above, no payments from the funds raised will be made (directly or indirectly) to related parties or controlling shareholders.

 

Milestones

 

Our Team

Opportunities

We are currently targeting the following sectors in New Zealand and the United Kingdom. Australia and the United States are to follow shortly.

VIEW OUR INFORMATION MEMORANDUM HERE

Major growth opportunities we are focused on:

Medical Centres

Remove the frustration of having patients sitting in an often crowded waiting room by holding them, for example, at home or work until the App notifies them to head to the clinic. They will be able to choose between a physical consult, phone or video consultation. They can also prepay in the App for a seamless experience.

Covid-19 Testing & Vaccine Stations

Remove the frustration of patients sitting in cars, causing congestion and a traffic hazard, while not knowing how long the wait will be, patients would be held at home until the App notifies them to head to the Testing or Vaccine Station.

Government

As social needs continue to increase in these uncertain times, people are forced to physically queue, sometimes for hours, outside of Government organisations such as Work and Income New Zealand, our App will eliminate the very real stories of joining physical queues at 2am and reduce long wait times.

Stadiums and Festivals

Make the most of that pre-match rush by enabling fans to order and pay from their own device, in their own time. Enable in seat ordering and delivery or with a simple designated collection point, you’ll see a huge reduction in waiting at tills and a corresponding increase in orders.

Restaurants

Help your customers find exactly what they want, fast, with their own personal ordering kiosk — removing queues and speeding up the order process. Increase revenues through smart recommendations and upsells.

Pubs and Bars

Remove the scrum at the bar by enabling your customers to order from their table or collect their order from a collection point. Make it easier for regulars to re-order their usual, with saved last orders and make it even easier for customers to get in that extra round.

Coffee Shops

Serve more customers in less time. Reduce queues at tills, watch loyalty increase and with order-at-table help your customers ease back into the new normal by letting them use your café as a second home or office.

Tattoo, Beauty and Nail Salons

Give your customers the choice to join a virtual queue from anywhere, without having to physically visit the business. Stay informed of their position in the queue and get reminders so they can just show up when it’s their turn.

Vehicle WOF/COF servicing and repairs

Queue your customers for Warrant of Fitness checks, regular maintenance and service repairs without the need to drop the vehicle off at the start of the day, organise loan vehicles or a pick up and collect at the end of the day.

 

In the Media

 

Key Risks 

As with any business, Tuipoint faces many potential risks from changing technologies, competition and execution risks around the implementation of our growth strategies. We have outlined these risks in detail in our Information Memorandum.

VIEW OUR INFORMATION MEMORANDUM HERE

Company Details

Tuipoint International Limited

Company Number: 1561115
NZBN: 9429035158417

Registered Office: 73 Kauri Road, Stanmore Bay,
Whangaparaoa 0932, New Zealand

Website: www.tuipoint.com

For further information or to discuss this investment opportunity:
Email: [email protected]
Call: 0276 414 887

A Note from PledgeMe

We have completed Veda checks on Tuipoint International Limited, and their Directors, as well as Google checks. There were no adverse findings.

Hey! Thanks for checking out this project.

We haven't made any updates yet, follow us if you want to be notified when we do.

Offer Details

Current Valuation 5,250,000
Raise Minimum 100,000
Raise Maximum 700,000
Share Price 1.00
Maximum Shares Offered 700,000
Explanation of valuation:

The valuation was undertaken by the Chief Financial Officer in conjunction with the Board of Directors using a variety of valuation methodologies and has been reviewed by our Key Advisors.

A valuation of $5,250,000 was derived using the Checklist method.

Under the VC method, Tuipoint is valued at $6,872,120.

Using the Comparative Transactions method, a similar but distinctly different pre-revenue App called Fetch had a pre-money valuation of £7,500,000 (NZ$14,358,083). It recently raised £909,930 (NZ$ 1,744,417), 640% of its target raise, on a major UK equity crowdfunding platform.

As the Company is a startup SAAS App Development Company operating in a unique industry it is difficult to perform a comparative analysis against similar companies in New Zealand and around the world.

Given the subjective nature of valuations and limited number of comparable transactions, the Board has adopted the lower of the three valuation methods presented above. The valuation represents 1.3x FY23 projected EBITDA and 4.7x FY22 projected revenues (our first full year operating).

Development and Testing
Tuipoint is essentially pre-revenue however we have thoroughly developed and tested our working App in 38 live environments over two years. In most cases, during our exhaustive testing, we have primarily offered our App to businesses at no charge or a basic subscription. Because of delays and business closures due to COVID-19 through much of 2020, we expect the majority of our test customers to convert to paying customers by the end of the 2020 or early 2021.

We currently have 13 revenue earning customers as at the date of this offer.

Financial Summary

Prev Year Current Year Est. FY 2022 Est. FY 2023
Revenue NZ $0 NZ $49,422 NZ $1,110,874 NZ $7,604,880
Operating Expenses NZ $0 NZ $307,041 NZ $1,266,568 NZ $3,565,739
EBITDA NZ $0 -NZ $257,619 -NZ $155,614 NZ $4,039,141
Net Profit NZ $0 -NZ $257,619 -NZ $162,694 NZ $3,005,709

Company Details

Company Name: Tuipoint International Limited

Company Number: 1561115

Company details are currently being synced with the Companies Office, please wait.

Company Documents

Tuipoint_Constitution.pdf

(application/pdf, 582 KB, uploaded 20 November 2020)

CertIncorporation_Tuipoint_22November2020.pdf

(application/pdf, 588 KB, uploaded 22 November 2020)

CompanyExtract_Tuipoint_22November2020.pdf

(application/pdf, 745 KB, uploaded 22 November 2020)

FINAL_TUIPOINT_IM_NOV_2020.pdf

(application/pdf, 957 KB, uploaded 23 November 2020)

Director Details

Name Role Profile URL Invested?
Matthew Brooks Executive Director / Founder / CEO https://app.companiesoffice.govt.nz/companies/app/service/services/documents/0009685EFD55359CA476019CFA4E44BD
Victoria Brooks Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/D04987796B860194D449BDE1C6C5AA8B
Prudence Lamerton Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/B3DB8054643A8A25464DE4E77D5DAEBC

Ask a Question (You must login to ask a question)

Sue edwards
2020-11-23 21:12:15 +1300
Clare Wellington
2020-11-23 20:13:16 +1300
Laura Wellington
2020-11-23 17:31:52 +1300
Jane Bell - PledgeMe Delivery Facilitator
2020-11-23 10:22:15 +1300
Equity Offer

From NZ $100,000 for 1.9%

Up to NZ $700,000 for 11.8%

Share Offer

Up to 700,000 Shares

at NZ $1.00 per Share

Warning statement about equity crowdfunding

Equity crowdfunding is risky.

Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.