‘What is Rooam?
Rooam is the world’s first socially connected mobile payment app that lets users pay for
drinks, explore local events, and find friends at bars, lounges and clubs.
What restaurants are currently on board?
In the last couple of weeks, we have received 11 commitments, with five complete
installations. These locations include RedRocks H Street, Zikrayet, Smith Commons and
Exchange to name a few.
How did the CEO develop the idea for the company?
The idea for Rooam comes from our frustration with nightlife. During undergrad, I
always wondered why there wasn’t a platform that let users know what events or
parties were happening around them in real time. A couple years ago during a night
out, a bartender lost my credit card and I waited two hours for the staff to find it. These
inadequacies in the “system” made me think that someone should build something to
fix it. In November 2014, I started drawing the idea out for Rooam on a whiteboard and
the journey began.
How will Rooam use the seed round funding?
The funding will accelerate the full development of its cashless mobile payment app,
support product launch initiatives, and boost its sales and marketing efforts.
What are Rooam’s development plans for the future?
Our immediate goal is to have market density in the Washington D.C. metropolitan area.
We’re looking forward to launching in a second city later this year.
Junaid Shams Bio:
Junaid Shams is the co-founder and CEO at Rooam, a socially integrated, cashless mobile payment app that allows users to pay for a night out, explore events and find friends at bars and restaurants. In this role, Junaid spearheads the company’s overall operation by orchestrating and overseeing strategic partnerships, product development, visual design and business development efforts.
Junaid developed the idea for Rooam on a napkin after realizing how long it took to close his tab at a local bar in 2014. In 2015, Junaid put together a core team to finalize the concept and developed a first-of-its-kind app-based payment platform that can be seamlessly integrated into businesses’ point of sale (POS) systems with a single click. His vision for Rooam is to become a one-stop mobile app for the user’s nightlife with a quick payment solution and real-time social tools to explore local events and find friends at bars and restaurants. In April 2016, Rooam’s mobile app was initially launched in the Washington D.C. area, and the company plans to expand to other markets around the country.
Prior to Rooam, Junaid co-founded a telecom e-commerce company in 2010 with a vision to promote and encourage the U.S. wireless industry to shift away from signing customers into binding contracts. He successfully grew the company to one of the largest smart phone providers in the market with $100 million in sales. A serial entrepreneur, Junaid has received numerous national recognitions, including Bloomberg BusinessWeek’s “Top 25 entrepreneurs under 25” and Under30CEO’s “Top 30 Most Influential Entrepreneurs under 30.” His leadership, strength and understanding for steering e-commerce businesses toward greater growth and profitability have been recognized by his employees, peers and leaders within the technology industry.
Junaid received his M.D. from The George Washington School of Medicine & Health Sciences and a bachelor’s degree in public health from The George Washington University.