Online Retail Marketplace and Consumer Finance Platform
Seeking +/-$10 million of equity and debt to further develop Venue – online retail marketplace and consumer finance platform.
- Retail marketplace offers wide selection of premium products at competitive pricing from leading online retailers
- Offers flexible payment solutions through a proprietary lending tree. Consumer loans are funded off balance sheet through third party lenders integrated with the platform
- Generate revenue from retail margin and origination fees
- Single credit account available to purchase from all retailers featured on marketplace
- No inventory and no credit risk
- Products are drop-shipped by the retail marketplace partners
- Highly scalable ecommerce marketplace platform (venue.com) integrated with a proprietary lending platform (VenuePay) – processes orders and optimizes conversion
- Management team has over ten years of operating history in e-commerce, generating over $1 billion in revenues and two million customers
- Owns 26% plus option to increase ownership to 40% of Kornerstone Credit, a national consumer leasing provider
- US consumers alone spent $517.36 billion online in 2018
- Online retail sales in the US are growing at a 15% annual rate and are expected to reach $684 billion by 2020
- A growing percentage of banks are tightening standards on consumer credit
- Consumers with FICO scores below 700 and consumers with no credit history represent over 50% of the total US population (over 160 million people) – limited access to affordable financing options
- Proprietary lending tree platform incorporating big data analytics and machine learning
- Underwrites consumers efficiently across a wide credit spectrum in real time
- Unifies the ecommerce marketplace with instant financing on a single platform and provides a seamless user experience
- generates significant margin from both retail and finance
- by using mobile enabled technology, consumers can shop premium brands from leading retailers at competitive pricing and pay overtime with flexible payment options
- by leveraging proprietary lending tree and origination platform, Venue offers an instant spending limit to online shoppers across the full credit spectrum
- Over 10 million SKUs updated in real time to provide shoppers with competitive pricing and greater product selection
- “Soft-pull” underwriting with no adverse impact on credit report in the event of a turndown
- Streamlined application with instant credit decision
- Supplier drop shipping provides quick access to products purchased through the marketplace, while maintaining no inventory
- Monetizing existing traffic, Venue plans to offer multiple financial products on its marketplace by partnering with third party affiliates, including personal loans, VISA/MasterCard, auto loans, mortgage loans, credit monitoring and other financial products. The Company will generate fees for each transaction originated through its marketplace platform
Chairman & Founder
- Former Chief Executive Officer of VNU Group and former Chairman of Crest Financial Services
- Responsible for securing over $500 million of capital and generating over $1 billion in revenues
- Secured strategic partnerships with GE Capital (GE), Household Bank (HSBC) and Alliance Data Systems (ADS)
- Served as Chief Executive Officer of US Capital Financial Corporation, an LA-based subprime credit card marketing company originating over 1 million credit card accounts
- Graduate of the Anderson School of Management, UCLA.
Chief Operating Officer
- Founder, former Chief Operating Officer and Chief Technology Officer for CoEdition, a marketplace for plus sized fashion.
- Former Chief Technology Officer, VNU Group. Kent was responsible for the development of its proprietary ecommerce and lending platforms supporting up to 3 million omonthly visitors to its site.
- Former Chief Operating Officer and Chief Technology Officer, Ashford.com a specialty retailer with global operation.
- Former head of Technology Solution, Gilt.com a leading fashion marketplace with over $600 million of annual revenues.