Online Retail Marketplace and Consumer Finance Platform

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Overview

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

Opportunity

• 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

Solution/Strategy

• 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

Kent Helbig

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.