Every week we feature a new startup at Fundsup that forces a radical breakthrough. This time we chat with David Franzen, CEO of Nocto International B.V..
Read the Dutch version on Emerce.
David, what exactly is Nocto doing?
Nocto has the answer for the struggling hospitality industry as a result of COVID. We have developed an award-winning solution that helps consumers to find, enjoy and share the best experiences in a safe way, and that also allows bars, restaurants, cafes, hotels and clubs to attract and bond with existing and new guests, safely, effectively and on low cost.
Why is this the right time for Nocto?
The COVID crisis has been disastrous for a number of industries, and perhaps the most heavily affected has been hospitality and tourism. The primary concern is public health through crowd control and crowd distribution, but even beyond that, the industry has long been ripe for a digital revolution.
We see this deep crisis as the perfect opportunity to launch a product that will define the next generations of hospitality. We are proud to present Nocto, the corona-proof and data-driven solution that will enable the safe and effective reopening of hospitality.
Who will benefit from Nocto?
The closure of hospitality has caused The Netherlands to suffer from major hospitality unemployment, civil unrest with riots, illegal parties, socio-economic issues, depression and more. Our solution enables:
- For consumers to gain access to real-time and location-based information about experiences, events, deals, capacity and activity. The core focus is 18-25.
- For businesses to attract and bond with new and existing customers in a safe, cheap and effective way. The core focus is bars, restaurants, hotels and clubs in urban areas.
- For governments to improve public health and local economic development by better-distributing consumers throughout the city due to better access to information. And to improve their public perception by supporting a solution that will help to reopen a significant national industry.
“Our smart and scalable win-win-win solution has benefits for consumers, businesses and governments at the same time.”
How does Nocto work?
Nocto has two core products: the Nocto app for consumers, and the Nocto Business Platform for hospitality venues and brands.
The Nocto app shows consumers real-time and location-based pictures and videos, events, deals and venue capacity from within a 10km radius. We also reward our users who contribute with their own pictures and videos with our own digital token, the Noc. The Nocs can be spent on deals through the app on things like drinks, meals, entrances, experiences, hotels and more. The Nocto app is free and available on both IOS and Android.
The Nocto Business Platform is a marketing, relationship building and data analytics tool. The main features are the ability to review and use user-generated content, promote events, promote deals, analyze and take action based on statistics, and implement automatic data-driven actions based on set milestones. We have 3 packages: Nocto Free (€0/month), Nocto Basic (€49/month) and Nocto Premium (€249/month).
During the COVID crisis, we developed our already award-winning Nocto Stoplight feature. This enables Nocto clients to indicate their real-time capacity in 1 click. In the Nocto app, consumers can easily visualize on the map which areas are busy and which areas are quiet.
“The Nocto Stoplight will be key in the safe and effective hospitality reopening.”
Where do you stand right now?
Our team, product and marketing strategy is in place and ready. While we are dependent on the government’s regulations for hospitality, we have a plan for each risk level. The Nocto community already counts more than 200 locations across the country and 15,000 app users, so the infrastructure for viral growth is there. Our domestic goal is to be the leading Dutch hospitality platform by the end of 2021. Internationally we already have an account manager setting up Brussels, and we will join a world-leading hospitality and tourism accelerator program in Paris in May 2021.
What are some of your achievements so far?
To date, there have been more than 7,500 pictures and videos posted in the Nocto app, and more than 3,500 deals bought through the Nocto app. We are also proud to have won the Horeca New Normal Challenge organized by the Gemeente Amsterdam. Recently we also won the Golden Moon Award 2020 in the category of “Most Innovative Tool for Nightlife during the Pandemic” by the International Nightlife Association. Finally, we are supported by Ketel 1, a leading Dutch beverage brand that is using their network, reach and industry expertise to help us.
Who has invested in you and what kind of investors are you looking for?
To date, we have secured €150,000 for concept validation, product development and a few test marketing campaigns. This was raised from the founders and a few angel investors, with experience growing internet businesses, hospitality solutions and working with consumer beverage brands.
We’re looking for strategic investors who can help us secure our position as market leaders in Dutch hospitality, as well as to effectively enter and conquer new markets throughout Europe. We are looking to raise €200,000 for equity, of which we have already secured €75,000, at €25,000 minimum tickets. Experience and network in hospitality, tourism, (influencer) marketing, data analytics, AI and consumer brands are preferred.
Why should investors invest in Nocto?
Every city in the world has bars, restaurants, hotels and clubs, and people that are desperate to go out and explore the world we live in. Our solution is proven, scalable and exactly in line with the global trends of the “experience economy” and businesses becoming data-driven.
We are ready to become the market leader across Europe and beyond for an industry that could have the highest growth % in 2021 and 2022 given the strong decline under 2020. Join us in our mission of becoming The Future of Hospitality!
Best of luck with everything!
Thanks, check out our pitch deck in the Fundsup app: https://api.fundsup.co/go/BkxBTdoLk4