Global private financial group headquartered in San Francisco engaged by in-venue mobile ordering technology company to support growth in post-Covid world.
SAN FRANCISCO, APRIL 2021 – US Capital Global has been engaged by FanFood, Inc. (“FanFood”) as its strategic advisor on capital formation, starting with a $3 million raise. FanFood is an operator of a mobile ordering platform offering cashless and contactless services at facilities and events of all types and sizes, including sports, education, hospitality, live events, dining, and management. In addition to Wrigley Field, home of Major League Baseball team the Chicago Cubs, the company offers tailored food ordering solutions through its app at over 300 locations.
US Capital Global is a full-service private financial group with an established track record in investment banking, asset management, and capital formation services. The firm provides sophisticated debt, equity, and investment products to lower middle market companies and investors. All securities are offered by the group through its FINRA-member, SEC-registered broker-dealer affiliate, US Capital Global Securities LLC.
FanFood’s CSO and co-founder, Carson Goodale, said: “Since our launch in 2016, the FanFood platform has been serving both event attendees and foodservice operators by providing a streamlined order fulfilment process that reduces wait times, elevates the experience for patrons, and boosts sales and revenue for operators. Our system, which functions through our cashless, contactless mobile app, has the added benefit of supporting hygiene-consciousness and social-distancing protocols.”
“FanFood’s development of a smart and efficient solution to customer needs has already increased the average order value by 32% for its partners, while reducing operating costs by 15% and customer waiting time by 75%,” said Jeffrey Sweeney, Chairman and CEO at US Capital Global. “The company operates under a flexible business model with a broad customer focus, offering clients a marketplace model and a SaaS model. This, combined with best-in-class features, has contributed to FanFood’s growth over the years. We are pleased to be supporting the company as its strategic advisor as it seeks capital to accelerate growth ahead of an equity raise.”
“While the Covid-19 pandemic has adversely affected businesses around the world, FanFood has in the past 12 months signed up 253 new partners,” Goodale added. “As restrictions relax and venues approach full capacity, we expect a significant jump in order volume (gross merchandise value) through our platform in 2021. We’re thrilled to now have US Capital Global’s sector-specific financial expertise on board as we prepare ourselves for further expansion with this initial $3 million capital formation.”
Headquartered in Chicago, FanFood is the operator of a mobile ordering platform offering cashless and contactless services at facilities and events of all types and sizes. The company’s platform enables fans to order food and beverages prior to an event or directly from their seats via express pickup or in-seat delivery, supporting a hygiene-conscious society in an app-oriented world. www.fanfoodapp.com
Established in 1998, US Capital Global leverages the latest FinTech and RegTech innovation to provide sophisticated debt, equity, and investment products to lower middle market companies and investors. The US Capital Global group manages direct investment funds and provides wealth management and capital formation services through its affiliates, including US Capital Global Investment Management LLC, US Capital Global Wealth Management LLC, and its FINRA member, SEC-registered broker-dealer, US Capital Global Securities LLC. The group collaborates closely with its peers in professional banking and investment advisory. www.uscapglobal.com.
To learn more about US Capital Global, email Lisa Terk, Investment Officer, at email@example.com or call +1 415-889-1026.