After less than a year in operation LazyAz is taking on global brands in the delivery services and digital marketplace arena.
The New Zealand owned and operated start-up has just launched a new update integrating its retail partners’ menus and stock lists directly into the interface. Customers no longer need to search for products or pricing on a third-party website. They can now order food, flowers, gifts, groceries, clothing and services for most retail partners directly through the app.
“There’s a gap in the market and LazyAz is filling it,” says founder Aryaman Taore. “Consumers are thirsty for on-demand services where they can order online and enjoy rapid delivery. They want to support a Kiwi-owned marketplace and delivery service that is on par with the world’s best.”
The LazyAz app combines the reliability and familiarity of local stores and eateries with the convenience of online shopping and within-the-hour delivery - anywhere in the Auckland CBD.
The company has established over 150 retail partnerships with companies including Sal’s Pizza, Habitual Fix and Pita Pit, alongside many locally owned stores. Further services include picking up forgotten items, collecting dry cleaning, delivering parcels and documents, and dropping off items for repair.
“We are focused on doing two things extremely well: understanding how people live today and doing everything we can to make their life easier and more convenient,” says Aryaman.
What started as a 17-year-old’s bright idea has grown into a rapidly growing business, with over 6000 app users to date. The venture was self-funded on a modest $1750 of initial capital, partly Aryaman’s personal savings and partly from his parents.
A hugely successful crowdfunding campaign in late 2016 saw LazyAz raise $240,000 in equity capital to develop and implement its strategic growth plan. The business team aims to grow its user base in Auckland, then to expand to Wellington, Christchurch, Hamilton and Dunedin.
LazyAz is now preparing for a two-stage fundraising campaign in late 2017 to raise further capital for the expansion. First LazyAz will run a small internal bridging round that individuals can be a part of, before running another larger scale crowdfunding campaign.
Currently, around 40 percent of revenue is from app users (delivery charge and commission on sales) and 60 percent from acting as a third-party delivery service for LazyAz’s partners. The business is focused on increasing the app users’ revenue and expects the update will play a major part. Additional revenue comes from interest on payments, and advertising revenue from both the app and the delivery vehicles.
“LazyAz's model supports local businesses by providing them with an online platform and delivery service which helps increase sales and allows them to compete with global companies,” says Taore. “I’m proud to be a Kiwi business owner supporting other small businesses, and employing almost 50 local drivers.”