This is a summary of the pitch presented at SPIN on April 15th.

Hi everyone, I’m Bjarni Heimisson from Fishlert. We’re replacing the seafood broker with AI and building the communication layer for a $25B US seafood distribution market.

The Problem

Every morning at 5 AM, a broker picks up the phone, calls buyers, sets a price, and sells seafood for fishermen all across the US — keeping around 15%. And it’s not because of the value they add, it’s just because they control the communication. Close to $5 billion worth of seafood hits the dock every year in the US, and over $750 million goes to a middleman who adds nothing but phone calls. Markets move in minutes. Miss the window and you lose thousands — and that’s happening every single day.

The Solution

Fishlert replaces that broker. A fisherman sends one text to Fishlert, and we broadcast it to every buyer instantly. AI communicates back and forth, handles the outreach, and closes the deal. No phone calls. Where a broker reaches 3 to 5 buyers, we reach 50 or more — creating real-time price discovery. And we do it at 3%, not 15%.

How It Works

We’re not just building a messaging app — we’re building an exchange layer for this commodity. Every price, every buyer, every transaction creates data and intelligence that nobody else has today. We own that data. On the supply side, fishermen get higher prices and broader reach. On the buy side, buyers get real-time access and transparency. The flywheel is: free communication tool, own the data, build the marketplace, take a percentage of sales. Our ARR ceiling in the US market alone is $150 million.

Traction & Competitive Edge

We are insiders in this market. I grew up in Iceland and ran the Icelandic national seafood auction — $300 million a year in sales, 200 million+ pounds of fish. My co-founder Billy Polo spent 15+ years as a buyer with direct relationships across 200+ accounts in the US seafood industry. He was the guy on the other end of those 5 AM calls. We understand this industry because we’ve operated in it, and we’re now building the technology to disrupt it.

Thank you.