Toast-It Arepas Update | Shark Tank Season 15

When Mafe Cabezas and Coco Viete moved to the U.S. from Venezuela, they were working full-time and settling into a new life, but they really missed the food they grew up with. Arepas were their favorite, but making them from scratch took too long, and the store-bought options didn’t taste right. So they came up with Toast-It, a frozen arepa you can heat in the toaster and eat in minutes. Will the sharks get behind their idea? Let’s find out in our Toast-It update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Toast-It after Shark Tank.

Mafe and Coco pitched their frozen arepa brand, Toast-It, on Shark Tank Season 15, asking for $100,000 in exchange for 5% equity. After some back and forth, they struck a deal with guest shark Daniel Lubetzky for $150,000 in exchange for 20% equity.

In terms of a Toast-It update, the company used Daniel’s investment to cut costs and improve production, helping address its low 20% profit margins. Furthermore, they rebranded as Kiosco and launched new products like Pandebono cheese bites and Plantain Buñuelos.

Shark	Result
Daniel Lubetzky	Accepted offer of $150,000 for 20% equity
Kevin O’Leary	$100,000 for 20% equity
Lori Greiner	No offer
Daymond John	No offer
Mark Cuban	No offer

Shark Tank Toast-It Pitch

• Entrepreneurs: Maria Corina Vieteis and Maria Fernanda Römer Cabezas
• Business: Guilt-free, Latin foods
• Ask: $100,000 for 5% equity
• Result: $150,000 for 20% equity
• Shark: Daniel Lubetzky

Mafe and Coco opened their pitch by sharing their story, how they moved from Venezuela to the U.S. eight years earlier and missed the food they grew up eating.

With busy full-time jobs and no time to cook arepas from scratch, they decided to create a shortcut: Toast-It, a frozen arepa that could be ready in five minutes using a regular toaster.

They handed out samples of their three core arepa varieties, original corn, chia flaxseed, and yucca, each filled with ingredients like plantains, queso blanco, guacamole, or mozzarella.

The sharks liked the flavor and texture, and appreciated that the arepas were gluten-free, had no added sugars or trans fats, and contained 4 grams of protein per serving.

Coco and Mafe explained they were already in 900 stores across the U.S., including Walmart, Publix, and Central Market, and had just secured deals with Whole Foods and Winn-Dixie.

Sales had reached $200,000 in 2022, and they were at $190,000 just five months into 2023, projecting $500,000 for the year.

However, when they broke down their numbers, $2.30 cost per unit, $3.23 retail price, and 20% margins after distribution expenses, some sharks grew concerned.

Kevin O’Leary liked the product, especially since it didn’t spike his glucose levels, but felt the margins were too thin. He offered $100,000 for 20% equity.

Mark Cuban passed, saying Toast-It didn’t excite him. Daymond John liked the food but didn’t think refrigerated products were a space he wanted to enter.

Lori Greiner also passed, saying it wasn’t the right fit for her portfolio.

Guest shark Daniel Lubetzky, intrigued by their passion and cultural mission, asked how they planned to improve margins.

They explained they’d just purchased new machinery and had negotiated a deal to cut packaging costs in half.

Coco and Mafe emphasized they were fully committed; they had both quit their jobs and were all in.

Daniel decides to match Kevin’s offer of $100,000 for 20% equity in Toast-It. This leaves the sisters with a very tough decision to make, and quickly.

At this point, they ultimately counter the two remaining sharks with $150,000 for 15% equity.

Kevin hesitates but eventually says no, but Daniel counters with $150,000 for 20% equity, and they accept the deal

Now it’s time to get a Toast-It update and see how Mafe and Coco’s business has grown since appearing on Shark Tank.

Shark Tank Toast-It Update

Our Toast-It update found that the deal with Daniel closed successfully.

The sisters used the funds from Daniel Lubetzky to ramp up production, cut packaging costs, and reduce ingredient expenses.

These steps helped them address one of the main concerns raised on the show: their tight profit margins, which stood at around 20% after distribution.

Furthermore, in early 2025, the company rebranded from Toast-It to Kiosco, a name inspired by the street markets found across Latin America.

Our Toast-It update also found they’ve expanded their product line to include new products like Pandebono cheese bites and Plantain Buñuelos.

The sisters also earned a spot in PepsiCo’s Greenhouse Accelerator Program: Juntos Crecemos, joining seven other Latino-owned food and beverage startups.

The program provides mentorship, funding, and support to help scale high-potential brands.

For more information or to shop the full range of products, visit the Kiosco website.

If we get any more information from the company, we’ll let you know in our next Toast-It update.

In the meantime, check out our other company updates from Season 15, Episode 2:

• Stormbag Update
• Return Home Update
• Matador Meggings Update

Before you go, be sure to check out our list of all the Shark Tank Season 15 products.