Valor co-leads the seed round of Goodfynd, a Washington-DC based fintech solution focused on the needs of food truck founders. Co-leading the round is Houston-based Artemis Female Fund. Our two female-led venture funds are combining forces to back a female-led fintech firm in its early growth.
Founded by Sofiat “Sofi” Abdulrazaaq, Lemaire Stewart, and Kyle Miller, Goodfynd is a marketplace and contactless payment system for food trucks. Its diverse team bootstrapped, built its own proprietary tech and is growing 100% QoQ since its launch in March 2020. Over 500 food trucks are on the platform.
Goodfynd is the first platform to create full visibility for a 3 party transaction ( the parking lot owner, the truck owner, and the customer). This is a legit new infrastructure for a nicely growing, entry-level segment of the entrepreneurial ecosystem, food trucks. It’s also in a sector, food service, hit hard by COVID-19 and needing recovery–tools like this will help fuel growth.
The founders are in love with the human story of food truck owners–the front lines in the food service recovery post-COVID-19.
- Food truck owners are often minority-led enterprises. (Chicago stats say 80% of food truck owners are minority.)
- Goodfynd is passionate about helping rising entrepreneurs from minority demographics succeed in this “Entry level” food entrepreneurship enterprise. Goodfynd is very aware that it’s easier to start a food truck than a restaurant or even a catering business, so they feel it really helps entrepreneurs launch.
- They are on a mission to make more successful founders in the food industry.
The food truck industry has experienced an overall revenue increase of 300% from 2014 to 2017 and is a $1.2 billion dollar industry poised to take off even faster, food entrepreneurs rightsize and look for tools to support growth through the economic recovery.