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Parvenu
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Parvenu’s Mission: Transformational Giving at the Point of Sale
“With tax reform looming, every corner of the philanthropy world will be
impacted. A probable reduction in the corporate tax rate (now as high as
35%) could make charitable donations less attractive. That could have a
negative drag on business charitable support. Against this pending backdrop,
checkout charity may surface as an even more important source of
fundraising than is the case now.”
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Charitable donation at the retail point of sale needs innovation. As a result, charity
checkout giving remains in legacy format, behind the rapidly evolving technology of
point of sale (POS) and chip reader systems. Retailers are pressed to find more
competitive philanthropic solutions that can increase their brand loyalty in order to
drive customer retention. Meanwhile, charities need a broad boost in giving due to
the new tax law.
Parvenu’s software for POS and chip reader is a smart platform that utilizes
intelligent, data-driven functionality to create personalized engagement for the
customer. We offer the POS donation platform that transforms traditional charity
checkout efforts into high-tech crowdfunding technology.
Operating Pillars
Local - We will use smart implementations to focus on local causes, such that
communities can benefit;
In-store and Online - We will aim to be ubiquitous for our customers, partners and
donors, seeking opportunity on every platform;
Partners - Our leadership and our team will engage in healthy relationships with
our partners that will lift up our collective brands
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The Addressable Market
As we perfect the online POS platform, we will sell our in-store application to
storefront brands who have had success with retail POS giving in the past. This will
generate repeat revenue from transaction fees (see: Financials). Parvenu’s platform
elegantly solves the sharpest pain points for three major players: nonprofits,
storefront retailers, and consumers.
Shoppers do not typically donate at the point of sale because they are
presented with unfamiliar, non-local causes on an uninspiring display.
Parvenu’s proprietary platform utilizes data-driven suggestions to inspire
millennial shoppers to go local by presenting dynamic smart donation
amounts and causes. A recent study found that 54% of donors indicated a
preference to donate locally.
“This tweet is a request for ideas… I’m thinking I want much of my philanthropic
activity to be helping people in the here and now – short term – at the intersection of
urgent need and lasting impact. If you have any ideas, just reply to this tweet with the
idea.”
- Jeff Bezos, CEO of Amazon
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The Demonstration Project: Pre-Check
Five test trials with a prototype of Parvenu’s application have already yielded
results 312% better than the national average for POS campaigns. Traditional
checkout campaigns ask the customer, “Would you like to donate?” This opt-in
method of asking for a donation frames not donating as the default choice. Opt-in
POS donation has yielded an 8% success rate. Parvenu’s platform fosters a culture
of giving by choosing to Pre-Check the donation box for the shopper. This opt-out
method frames donating as the default choice. This approach has yielded a 25%
success rate, with zero customer complaints.
The Innovation
Inspiring Display - A high-tech display at the point of sale shows the specific
project that the money is going to, the nonprofit’s Charity Navigator ranking,
a progress thermometer of the fundraiser’s goal, and a thank you screen that
integrates with the retailer’s existing loyalty program to offers discounts and
tracks the shopper’s impact to encourage a sense of progress.
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Parvenu’s proprietary technology dramatically increases customer engagement by
personalizing the shopping experience. In addition to integrating these disruptive
features, we are innovating through marketing by building a brand that shoppers
want to associate with. Whereas a traditional fundraising agency operates more like
a behind-the-scenes consultant for retailers, we are placing our brand at the
forefront in order to create a membership network of shoppers, retailers, and
nonprofits.
The Roll-Out
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Sales Plan
Retail Foundations are the nonprofit foundation arm in charge of the for-
profit retailers’ cause marketing efforts. Our strategy is to connect through
these foundation arms, such as The Walmart Foundation and the Amazon
Foundation, to gain the needed exposure to their parent companies.
Verifone also has a long-standing relationship with Walmart, and we hope by
working together, introductions will be quick.
Management Team
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Competitive Analysis
UK Comparison: Europe adopted EMV card readers earlier than the US.
Pennies is a European crowdfunding platform for POS giving. They operate in
the United Kingdom and are actively willing to help us with industry insights,
best practices, and guidance to circumvent some of the mistakes they made
early on. They are currently in more than 1,000 stores across the UK and
have doubled their monthly donations to over 200,000+ in 2017 after
partnering with Verifone. Our closest competitors are overseas and have
proven the success of our goal, while still using low-tech features.
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Partnership Opportunities
Technology
________________________________________________________________________
VeriFone* Mulesoft* Snipp
Ingenico First Data Apple
Square* Mashape
Lightspeed Flatiron School*
Retail
________________________________________________________________________
Think Local First* Crystal City*
Chain Store Guide
Nonprofit
________________________________________________________________________
Engage for Good* FundsforNGOs
Selfish Good* Pennies*
DialogueDirect*
Agency
________________________________________________________________________
GoCatalist* Channeltivity
For Momentum*
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Financials
The break-even point is estimated at Month 7, and the profit point begins in Month
10.
Summary
Parvenu is approaching ideal market timing for transformation in the POS giving
space. We are taking a proven service in European that is highly profitable and
scalable and transforming it into a cutting-edge technology with disruptive,
intelligent features.
Thank you for reviewing our Executive Summary. We look forward to speaking with
you about investing.
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