Company logo: eatandthecity

EatAndTheCity

Connecting Restaurant Discovery, Booking and Media with official licence of Chinese payment system WeChat pay used by 1 Billion Chinese. Company has approved financial license from FIN-FSA to accept Chinese travellers to bring 1351 Million€ payments.

Company Overview

EatAndTheCity / Avainpay is now Building the PayPal for Chinese Tourism. Over 1 Billion Chinese use WeChat. 80% of those pay with WeChat Pay. More than six million Chinese travellers visit Europe yearly. Chinese payments expected to grow in Finland, Nordics and Baltics in next 3 years to 1351 Million euro and if all that could be payed with our solution bringing 13 Million in transaction fees. Compared to other European countries, the Nordics have higher growth rate, more than 30% annually. Chinese consumers expect to use WeChat Pay abroad the same way as back home. WeChat Pay Payment technology investment summary: 2018 investment: € 299 757 (invested by founders) 2019 estimate: € 564 500 (looking for investors) 2020 estimate: € 2 477 150 (looking for investors) Needed investment for services and expanding to Nordics and Baltics € 2-3 million - Technical investments for the roadmap - Sales and marketing investments - Service localisation Investment can be made to Group Holding or the FinTech directly. The Group name is City Digital. City Digital is Holding company for TableOnline.fi/en restaurant reservation marketplace and SaaS platform, City Magazine city.fi, EatAndTheCity licensing company and restaurant events organizer. Company has unique story telling platform PowerStories.de and ImproveMedia.fi advertisement network technology. Company works together with OpenTable, TripAdvisor, Bookatable, Süddeutsche Zeitung, Aller, Bonnier, Facebook and Google. Basic business is profitable, 3Meur annual run rate. WeChat Pay payment Fintech technology is approved with financial license from FIN-FSA Financial Supervisory Authority and official Tencent WeChat Pay partnership.

Primary Company Info

Headquarters:
Helsinki, Finland
Country:
Finland
Year Founded:
2015
Active Markets:
Domestic

Edition June 2019

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