Q&A with Yousif Touza of Flype
Co-founder & CEO
An award-winning project that has received the Top Idea award at Sweden’s largest startup competition and a proud winner of the Scale Challenge, a Walton Family Foundation funded incubator program.
Flype is a platform that enables retailers to ship parcels from their individual stores to customers in other cities and countries with daily travelers. This is an unprecedented solution that decentralizes the retailers logistics by enabling each store they have to act as a distribution center. Despite being an early stage startup, we’ve received great interest from recognized global retailers who want to use our service, guaranteeing a demand of over 1000 parcels/day upon launch. By using Flype, retailers will save millions of dollars in facility costs and invaluable time, and will finally be able to offer their customers a premium same-next day delivery service with real time tracking at a competitive price.
Flype has already sent parcels internationally, where we have delivered 500 packages with 170 travelers to 27 different cities around the world (4 continents). We are signing up retailer clients, and already have the interest of recognized retailers guaranteeing initial volumes of over 1000 parcels/day.
We have assembled an experienced team and partnered with industry experts and are working on the product at full speed. The Flype platform will be ready for launch on the 30th of September.
Tuesday, July 7th, 2020 • 2:15pm-3:15pm EDT
Q&A with Yousif Touza
Investors Only Please
Family Office Insights is a voluntary, “opt-in” collaborative peer-to-peer community of single family offices, qualified investors and institutional investors. Join the community here www.familyofficeinsights.com
Why are retailers interested in adding Flype as a shipping alternative?
Customers today are expecting much better and faster services. If we look at the delivery industry, 46% of delivery today is express. Research and statistics have shown that 25% of customers abandon a cart online if express delivery was not available as an option at checkout. In addition to that, retailers are seeing a 10% increase in revenue from the areas where they offer next day delivery. That is why many retailers are spending billions of dollars in R&D just to make next day delivery available in more areas. However, adding a next day delivery alternative is far from simple and is quite problematic for many retailers. Flype is the first and only delivery company that enables retailers to ship parcels from their individual stores instead of the distribution centers. This will practically enable each store they have to act as a distribution center, saving them millions of dollars in facility costs while finally enabling them to offer many of their customers a next day delivery service.
Flype has already received a significant interest from many retailers that want to use our service as soon as we launch, guaranteeing an initial demand of over 1000 parcels/day.
How does the delivery process look like for the travelers? Is there any risk?
The delivery process is fairly simple for the traveler, allow me to explain it in the following steps:
1. The traveler registers on the app and gets verified
2. Before traveling, the traveler registers her trip on the app filling out the dates of her travel and potential preferences (such as maximum number of parcels to carry, maximum distance to the store etc.).
3. The traveler gets assigned a few parcels at one store near her that matches her preferences.
4. The traveler goes to the store, picks up the items through a simple collect in store solution and pack them in her bag
5. Finally, the traveler can drop off the parcels at a drop off point in the city of destination, where a last mile delivery partner will take care of the last mile delivery.
6. The traveler gets paid.
The traveler can earn up to $20 per item for most traditional items (the average price of next day delivery varies between $15-$20 in the industry). An experienced flyper can deliver more premium items for a higher compensation. Basically, by delivering a few parcels on the trip, a traveler can cover a significant amount of the travel cost."
What is your business model?
Flype has two main sources of income:
1. A 15% cut out of the travelers revenue
2. Income generated from our P2P insurance system
A third potential income source involves future expansion within tourism leveraging on the immense number of data collected from millions of daily travelers within the Flype app. We estimate to reach 5% of our serviceable available market by 2025, generating $225M in revenue (detailed calculations available)."
Yousif Touza of Flype
Yousif Touza, chairman and CEO, is an experienced entrepreneur and a tech savvy individual. Driven by curiosity and his thirst for knowledge, he graduated from Stockholm’s University in business administration while also studying media technology, computer science and journalism. He has significant executive management, business development, and marketing experience in roles he held in Sweden, Japan, and the Middle East.
Contact Yousif : email@example.com