$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Dave Pouliot from Montreal, QC, pitched Coinmiles in Season 16, Episode 5, asking the Dragons for $200K for 2.5% of the company.
- Asked for$200K for 2.5%
- Valuation$8Mimplied by the ask
- OutcomeDealwith Vincenzo Guzzo
- Final deal$200K for 5%valued at $4M
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Michele Romanow | Equity percentage too low to justify investment | Out |
| Wes Hall | Uneasy feeling about the pitch, declined to invest | Out |
| Manjit Minhas | No differentiation from big industry leaders | Out |
| Arlene Dickinson | Too burnt out from the loyalty/rewards space to invest again | Out |
| Vincenzo Guzzo | $200,000 for 5%, using UB Media's sales force and a board seat | Accepted |
Dave, a former police officer and financial litigation lawyer based in Montreal, founded Coinmiles, a mobile app offering Bitcoin rewards for shopping online or in-store at over 1,000 partner retailers, converting purchases to Bitcoin credit within 24 hours. Since launching in January of that year, the app acquired over 30,000 Canadian users, generated over $1.5 million in sales for partners, and brought in close to $100,000 in company revenue with net revenue over $40,000. Dave had pitched roughly 70 other investors and sought $200,000 for 2.5% equity to hire an in-house sales team targeting in-store brand partnerships.
Michele Romanow, Wes Hall, Manjit Minhas, and Arlene Dickinson all declined, citing the low equity offer, discomfort with the pitch, lack of differentiation, and past experience in the loyalty space. Vincenzo Guzzo offered $200,000 for 5% equity, proposing to use the sales force of his partner company UB Media in place of Dave's hiring plan, along with a board seat, which Dave accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
Coinmiles today
- StatusIn businessLast checked September 2026
Coinmiles is still operating and sells through its website.