Roiward

350% GMV growth from 2023-24 digitising & customising company incentives

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The Market

  • The digitisation & customisation of incentives for consumers and employees has trended up from 10% in 2018 to 50% in 2022.

  • Building the infrastructure for digital value payouts addresses a $5.5 trillion market that’s growing at a 16% CAGR.

This week's business solves two major problems: 

  • There are no easy technology solutions to issue digital value.

  • Gift card processors and processes are limited and inflexible.

One Liner

  • Roiward offers digital infrastructure to provide the tools to embed effective payouts, rewards and incentives.

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Quickfire

  • Headquarters: Barcelona, Spain

  • Employee count: 12

  • Investors: ABAC Nest Capital and Itnig Capital (Barcelona startup hub)

  • Funding amount: €315,000 committed. Raising €2.7m seed

  • Business model: B2B2C

  • Traction metrics: 

    • €2.3m GMV (2023), €11m GMV (2024)

    • Customers: Zilch, Scalapay, Sequra

    • 344% YoY growth

    • Forecast for 4x growth in 2025

Due Diligence

APPEALS

  • Targets businesses, merchants and consumers: By targeting all three, Roiward opens up serious untapped value that currently prevents all parties from maximising their share of value.

  • Large transactional infrastructure: Multiple revenue streams (embedded finance, employee benefits, customer engagements etc) opens many opportunities to hit profitability fast.

  • Low customer/ revenue concentration: In a market with many potential customers Roiward can distribute the risk of high customer and revenue concentration.

POTENTIAL RISKS

  • Regulation on Employee Benefit arena: The EU maintains tight control over employee benefits, regularly updating for workers. Rioward must stay updated to avoid potential penalties.

  • Cross Border inter exchange fees: Could cause cash flow issues due to high transaction costs.

  • Capital resources to scale fast: Building all the infrastructure required could be limited if fundraising takes longer than anticipated.

Competition

Founders

  • Founder & CEO, Jonatan Amenedo: Executive MBA, ESADE Msc Telecom Engineer, Ex Proctor and Gamble.

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Let the people decide

Is Roiward a winner?

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Last feature’s results

  • We want to let you decide whether the startup has legs or might not make it! We’ll display the results of the previous feature below so you can see how your decision stacks up against our other readers.

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Written by Luke & Seb