FasterCapital

BACKGROUND

Please describe your company and position.

I am the CFO of Meetingg

Describe what your company does in a single sentence.

Meetingg.com is a professional networking platform that helps individuals and businesses connect, collaborate, and grow.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire FasterCapital to accomplish?

• refining our business model
• improving market strategy
• securing technical and financial guidance

SOLUTION

How did you find FasterCapital?

Online Search

Why did you select FasterCapital over others?

• High ratings
• Good value for cost

Describe the scope of work in detail. Please include a summary of key deliverables.

FasterCapital helped us streamline our platform, enhance user experience, and implement strategic growth plans, ensuring scalability and efficiency.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

Improved platform functionality, better market positioning, enhanced financial strategy, and increased networking opportunities.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Yes, they were highly responsive, met deadlines, and provided consistent support throughout the process.

What was your primary form of communication with FasterCapital?

• In-Person Meeting
• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

Their personalized approach, extensive industry expertise, and commitment to startup success.

Are there any areas for improvement or something FasterCapital could have done differently?

Overall, the experience was great, but additional funding opportunities would have been beneficial.

BACKGROUND

Please describe your company and position.

I am the Head Of Development of PickTaxi

Describe what your company does in a single sentence.

PickTaxi is an automated location-based taxi booking service that can be access from smartphones or web. PickTaxi will use several algorithms to optimize the matching between the rider and the taxi.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire FasterCapital to accomplish?

Raise Capital

SOLUTION

How did you find FasterCapital?

• Online Search
• Referral

Why did you select FasterCapital over others?

Good value for cost

Describe the scope of work in detail. Please include a summary of key deliverables.

PickTaxi was co-founded by Amie Gurd with the vision of creating an efficient, automated, location-based taxi booking service accessible through smartphones or the web. Amie recognized that existing taxi services often suffered from inefficiency, poor user experiences, and delayed pickups. To solve this, PickTaxi integrated advanced algorithms designed to optimize the match between riders and available taxis. This innovation aimed to reduce wait times, improve ride allocation, and ensure a seamless experience for both riders and drivers.
To tackle these challenges, PickTaxi refined its algorithms to factor in real-time traffic data, historical demand patterns, and driver availability more accurately. This enhanced the matching process, reducing rider wait times even during busy periods. PickTaxi also introduced a dynamic pricing model to manage demand surges and incentivize drivers during peak hours. Additionally, they invested in localized partnerships and compliance tools to ensure seamless expansion into new cities, addressing local regulations and infrastructure differences. This multi-pronged approach allowed PickTaxi to scale effectively while maintaining high service standards.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

As PickTaxi expanded its user base, the company faced several challenges. The first challenge was dealing with real-time traffic conditions and unpredictable demand surges, which affected the accuracy of their matching algorithms. Another challenge involved managing rider and driver expectations, especially during peak hours, leading to cancellations and dissatisfaction. Additionally, scaling the platform across different cities with varying regulations, infrastructure, and local market demands posed a significant hurdle for the team.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Timely delivery and flexibility are two strengths that stood out during FasterCapital's management of our project Whenever we had new requests or adjustments, they responded quickly and kept everything moving forward as planned.

What was your primary form of communication with FasterCapital?

Virtual Meeting

What did you find most impressive or unique about this company?

The support from FasterCapital was unparalleled. They were not just service providers; they became partners who genuinely cared about our success.

Are there any areas for improvement or something FasterCapital could have done differently?

FasterCapital's approach to fundraising was effective, but more frequent updates and deeper insight into investor preferences could have refined our strategy. A more targeted approach to investor outreach would have been ideal. Nevertheless, their overall support and responsiveness were strong, and we appreciate their efforts.

BACKGROUND

Introduce your business and what you do there.

I’m the owner and main editor for a dreams interpretation website.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with FasterCapital?

We needed help with accounting services.

SOLUTION

What was the scope of their involvement?

Faster Capital does our yearly tax review. They help us with financial planning.

What is the team composition?

We have a main point of contact, but there’s more than one person on the team.

How did you come to work with FasterCapital?

They were recommended to me.

How much have you invested with them?

We’ve spent €30,000 (approximately $35,000 USD).

What is the status of this engagement?

We started working together in March 2016, and the relationship is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

They’ve taken us from a personal company to an FTD. They’ve decreased the amount of taxes we pay and showed us a couple of ways to invest the dividend from the company.

How did FasterCapital perform from a project management standpoint?

Project management is very precise and professional. They never miss a deadline. Faster Capital has a business plan, and they’ve shared an Excel spreadsheet with us.

We communicate via telephone, email, and WhatsApp and use Google Sheets as a tool.

What did you find most impressive about them?

They’re very present. Faster Capital is always available for our questions, and they’re always precise in their response.

Are there any areas they could improve?

No, we’re very happy with their service.

Do you have any advice for potential customers?

Sit down and talk with them about your needs. They’ll work out the best plan.