Premoney 37: Sencha Credit & Foodom

Welcome to week 37! Last week, we shared a lookback analysis of all the companies that we’ve featured and if/how much they were able to raise post-feature. We’re not suggesting that the reason they raised was because of Premoney, rather we are using these numbers as an indication on if Premoney itself is a good locator of “successful” companies, using a raise as a proxy.

Either way - on to the good stuff! I’m very excited about the two companies this weekly, largely because they are win-win business models that focus on lifting up those who are underrepresented, underbanked, or those who are striking out on their own.

This weeks companies:

Company: Foodom

Founder: Reneta Jenik

Raise Details: $1,500,000 on a SAFE

Vertical: Consumer, Creators, Family, Wellness, Marketplace, Food,Future of Work

Business Model: B2B2C

1-Liner: Foodom, everyone's personal chef

Description: Imagine that for less than delivery, a personal chef shops for your preferred ingredients, meal preps 1-2 times a week in your kitchen, and leaves your space sparkling clean with food for the whole week. How great would that be? We cracked the economics, and operations of making personal chefs accessible and affordable for everyone. Our vision is that every household and travel rental has an in-home chef, millions of passionate cooks and chefs make a great living doing what they love most. Powering this new revolution with tech and community, and protecting earth along the way, reducing food and packaging waste.

Traction Indicators: 

• >2000 dishes cooked, with >300 meals and >100 customers,

• Generated early revenue and recurring customers for an in-home service despite the pandemic

Company: Sencha Credit

Founder: Kristian Lamarre

Founder Facts: Kristian is currently a freshman at Boston College, extremely passionate and mission drive. Not one to miss.

Raise Details: Raising $1-1.5M, $60k committed

Vertical: Consumer, CreditTech, Crypto, Fintech

Business Model: Processing, B2B, B2B2C, Revenue Share

1-Liner: We help the underbanked and the ones starting off on their financial journeys build credit.

Description: We will help companies and people build financial futures for themselves. With our ability to help users build credit with no credit checks while giving them both stock/bitcoin rewards combined with our ability to white label cards at a high rate for our B2B plays, we aim to change the financial future of everyone we interact with and help make the world a better, more equitable place.

Traction Indicators: 

• Pre-revenue (1400+ waiting list)

• Partnerships with a stock company (Bumped). 1500+ on the waitlist

That’s all for this week all!

Have a great weekend,

Jake