PoloPay
Revolutionizing the experience of the diner's experience in LATAM.
Startup Snapshot
Startup name: PoloPay
Industry: FoodTech
Business Model: B2B SaaS
Founder: Andrés Richardson, Aldo Piaggio, Juan Chomali
Operates in: Mexico, Honduras, and Chile
HQ Location: Mexico City, Mexico
Team Size: 7
Founded: 2022
Investors: Angels & Y Combinator
Accelerators: Y Combinator (W23)
Website: https://polopay.co/
What does PoloPay do?
PoloPay is dedicated to transforming the dining experience in restaurants by addressing the information gap that exists in the current operational methods. Traditional sources like paper menus or online reviews cannot provide the right insights for optimal operation.
While it may be simple to identify which products are being sold and which are not, understanding the underlying reasons can be challenging. This is where PoloPay comes in. Supercharged analytics deliver actionable insights that empower restaurants to make informed decisions based on meaningful, real-time information, rather than working off assumptions.
With PoloPay, restaurants can identify not only which products sell the most or the least but also, understand why. Is it due to their placement on the menu or the presence of appealing visuals?
This allows restaurants to optimize their menu, staff, table turnover, processes, payment processes, and more.
What's your backstory?
Aldo, Juan, and Andrés, the brilliant minds behind PoloPay, crossed paths during their time at the University of Michigan. Recognizing the unique strengths each of them possessed, they joined forces to form an unstoppable team.
With over 9 years of experience, Aldo is a skilled designer who has left a lasting mark in the industry. In Honduras, he successfully ran his own branding and design company, renowned for delivering user-friendly and professionally polished products. Additionally, Aldo gained valuable industry insights during his time at Goldman Sachs in Dallas.
Juan, the technological genius of PoloPay, brings more than 12 years of expertise in developing cutting-edge digital products. His track record speaks for itself, with numerous hackathon victories and the prestigious Apple Scholarship awarded to him twice. Prior to their venture with PoloPay, Juan made significant contributions to the strats division at Goldman Sachs in New York.
As for Andrés, he is proud to lend his business acumen to their dynamic team. After graduating from Michigan, he gained valuable experience at Galera, a renowned business consultancy in Mexico. His focus there revolved around business development, strategic planning, and organizational structures. Throughout his journey at Galera, Andrés learned firsthand the indispensable value of teamwork, a principle that lies at the heart of their operations at PoloPay.
How did you come up with the idea?
As the son of a restaurateur, Aldo witnessed firsthand the challenges faced by traditional establishments, particularly during the pandemic. Aldo helped his father create QR codes for PDF menus and quickly realized that while the digital menu was accessible, the remaining processes were still rooted in analog methods.
This realization helped identify the opportunity of reinventing the diner experience and the restaurant industry through technology.
How did you acquire your first customers?
PoloPay found its first customer in Dallas, none other than Enrique Tomás, a fantastic restaurant conveniently close to Aldo's home. This proximity served as a catalyst for launching the product, as it presented an ideal opportunity to validate their idea. Notably, Enrique Tomás embraced the product, making a purchase and remaining a loyal customer to this day.
What's your motivation?
The PoloPay team is driven by their commitment to developing a world-class operating system for restaurants that reinvents both the diner experience as well as the restaurants operations. They take pride in their perfectionistic approach and prioritize customer needs over sales. With a diverse range of products, they aim to provide customers with precisely what they require, ensuring maximum value and satisfaction.
What's next for PoloPay?
Short-term: Focus on selling the ordering and payment system in the restaurant industry while starting to develop analytical products that generate actionable insights.
Medium/Long-term: Become the operating system of the restaurant. Not only cover the customer-facing aspect but also delve into the business operations to address some of the existing user experience issues.
Tips for other founders:
There's no one way of doing things. Listen to different opinions and form your own. Don't get fixated on an idea you heard from a single person on a podcast.
Truly listen to your customers. It's one of the most important points that Y Combinator taught us, but I believe that not many people follow through with it, even though it's crucial.
Don't assume your product will cater to everyone as initially expected. Instead, recognize that it might offer value in unexpected ways and adjust accordingly.
Special offer for our readers 🚀
20% off for 12 months for new restaurants on Polo Basic utilizing code: POLO20
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Special thanks to our sponsor:
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