The Pitch: AnyCard is a digital marketing platform with a closed loop payment system for creating promotional offers and selling electronic gift cards. Any business or group of businesses can register in minutes with no setup fees or hardware required. Our platform is the simplest and most affordable solution available in the market helping local businesses that are underserved by the competition.
We make e-gifts simple and affordable.
Team: Chad Molleken, Co-Founder & CEO
Chad is a serial entrepreneur, global citizen and paradigm shifter with an authentic focus on delivering true social value and meaningful change. He has built a global network over the last 15 years working across the energy, technology and public sectors in Europe and North America.
Significant accomplishments to date include; visionary behind Canada Day International, Pride House London, sat on the board of various non-profits and advisory committees. Chad is an active Angel Investor and loves working with entrepreneurs.
Chad Cardiff, Co-Founder & CTO
Chad is a self-taught programmer and entrepreneur who started building websites at the age of 12. He successfully runs his own IT consulting firm providing networking and desktop services to his clients.
Significant accomplishments to date include; building the first version of the AnyCard platform three years ago, built a prototype for a commercial fleet management app. Chad has also been nominated as a Saskatchewan top 40 under 40 by the CBC.
Problem: As digital technologies continue to disrupt the way businesses engage with consumers, SME's need affordable and easy to use platforms to compete with big box retailers. Many SME's believe that they lack the time, money and technical know how when it comes to digital marketing and electronic gift cards.
Shift: Currently, most SME’s sell paper or plastic gift cards that are available at their location. Some sell their gift cards online but then mail physical cards to customers, which is costly and inefficient. SME’s want access to affordable and easy to manage digital solutions that can help them increase sales.
Products & Services: With AnyCard, Merchants have access to our web-based dashboard that lets them create and send promotional offers to customers, sell e-gift cards, run contests, and have their company listed in the AnyCard Marketplace.
E-gift cards can be purchased from any online channel that a merchant owns including their website, e-newsletters or social media pages. Merchant's gift cards can also be purchased from the AnyCard Marketplace. In the future our aim is to power third party gift card reward marketplaces for the banks and loyalty programs. E-gift cards are sent by email, text, or Facebook Messenger to the recipient which can then be added to Apple/Android Wallet. Purchasers can choose a future delivery date and time or send instantly. To redeem, customers simply show the e-gift card on their mobile device in store and the merchant either scans the QR Code or enters the 9 digit authentication code on the redemption page of their dashboard.
Last fall we launched our multi-store electronic gift card which is like a mall gift card, but designed for Business Improvement Areas, business associations or any group of businesses within an organization. The multi-store e-gift cards are purchased online and can be used at any of participating business within the program.
How it Works:
Value Added: By simply adding a link to their website and social media pages, our merchants provide their customers with an easy and convenient way of purchasing their gift cards online 24/7 from anywhere.
An added benefit for our merchants is that their business is listed in the AnyCard Marketplace which currently generates 20% of our sales and sees on average 4,500 visitors per month. As mentioned previously we hope to power third party gift card marketplaces with our list of merchants helping them create new distribution channels that they would otherwise not have access too.
For our BIA partners, we help them increase engagement with their community and attract more customers by gaining access to new online sales distribution channels.
We have helped many of our merchants double their gift card sales in their first year while helping BIA’s to compete with malls and big box retailers.
Market: According to Deloitte, there are 6.8 million small businesses in North America and the gift card market is worth $10 Billion in Canada and $150 Billion in the United States. Of this total market size, only 15% of gift cards are currently sold online. We are currently accessing a fraction of the online Canadian market and are aiming to acquire 1500 merchants by the end of 2017.
Target Market: We are focused on building channel partnerships that will allow us to acquire thousands of merchants in the restaurant, hospitality, spa and beauty, retail, and entertainment industries.
Our target merchant industry groups have been identified as the ones that would benefit the most from our “clicks to bricks” service offering. The multi-store groups we are targeting include organizations that have a membership of merchants in our target industries. This includes BIA’s, festivals, associations and shopping malls. Cadillac Fairview and other malls have had tremendous success with their gift card programs, yet none are offering an e-gift card.
Competitors: Buyatab is probably our closest competitor on the technology side however they are focused primarily on large restaurant chains like Boston Pizza, The Keg, and Cara Foods.
GiveX in Canada does offer e-gift cards to SME's but it is expensive to set up and they do not offer a multi-store option. Because their set up costs are so high it is often prohibitive for SME’s.
Moneris is one of the top suppliers of payment terminals and the predominant provider of plastic gift cards. They are not currently in the digital gift card space.
Ackroo in Canada is targeting some small businesses but with a focus on selling their loyalty and rewards solutions. They primarily focus on physical gift card distribution.
GYFT, an American e-gift card platform, was initially focused on SME's but has since been rolled up into First Data’s retail suite of products that are geared towards chains and big box retailers since they were purchased for $53 Million in 2014.
Competitive Advantages: Our strategic focus on Local SMEs and multi-store groups differentiates AnyCard from other players across the payments and gift card space. Our ease of implementation, superior customer service and low cost are the key differentiating features for our customers. Payment integration with digital wallets and tap payments will become an important competitive advantage in the future. Currently there are no other e-gift card players focused on serving the SME market. There are also no companies offering a multi-store e-gift card solution like the one we have created.
Business Model: We operate a SAAS Platform based on transaction fees. For merchants we charge between 5-10% per transaction. For our multi-store programs we charge between 8-10%. Because we have a huge stickiness factor, once a business signs up they are not likely to change gift card systems and therefore we capture this ongoing revenue annually. We are exploring a subscription pricing model to offer a reduced rate on transaction fees and unlimited promotional gift card credits.
November 2015 - Beta Launch
January 2016 - Raised $275,000 from Friends and Family and secured $150,000 in Government Funding
May 2017 - Acquired 600 Merchants and launched 4 Multi-Store Programs
Traction: Our monthly sales are growing an average of 403% year over year. We have generated over $325,000 in gift card sales and processed more than 6000 gift cards. We have just signed two channel partnerships with Vendasta and ORHMA.
Funding: We are currently looking to raise a seed round of $500,000.
We're building Canada's first Electronic Gift Card Marketplace and Digital Marketing Platform for local business.
To learn more about our products or investment opportunities please contact:
Chad Molleken - email@example.com