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AKT London

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The UK's No. 1, award winning, natural deodorant. Plastic Free, Aluminium Free and BORN TO PERFORM.

140%
 - 
Funded 16 Oct 2023
£600,003 target
£868,055 from 869 investors
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Business overview

Location Eastleigh, United Kingdom
Social media
Website www.aktlondon.com/
Sectors Home & Personal Non-Digital Mixed B2B/B2C
Company number 11211232
Incorporation date 18 Feb 2018
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Investment summary

Type Equity
Valuation (pre-money) £8M
Equity offered 9.52%
Tax relief

EIS

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Business highlights

  • 2X growth in 6 months. £2.3M+ run-rate revenue*
  • Winner of 10 industry beauty awards
  • From 5k to 14k+ Subscriptions since last June ‘22
  • Over 10k+ orders a month and 100k+ happy armpits!
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Key features

  • Secondary Market
  • Nominee investment min. £14.97 +
  • Direct investment min. £20,000.00 +

Idea

Introduction

AKT (pronounced “act”) is The Personal Performance Company that may change your life. Founded by West End stars Ed Currie and Andy Coxon, AKT is by and for those who are “Born to Perform” — on the stage, at work, or in life.

In 2020, The Deodorant Balm made its stunning debut ranking #1 and winning awards from the likes of Vogue, GQ, Esquire, and Harper’s BAZAAR. Plastic-free, aluminium-free, and gender-free, The Deodorant Balm instantly resonated with those looking for a natural deodorant that genuinely performed. Five fragrances and over 100k happy armpits later, The Deodorant Balm is already becoming a household name.

Every new AKT product is put through its paces by London’s hard-working theatre community to ensure it lives up to the high standards of its founders. As a rule, AKT’s products don’t break character — ever. It’s this effectiveness that has propelled AKT from the backstage to bathroom cabinets worldwide.

And the good news is — the performance is just getting started.

Substantial accomplishments to date

Last year, we welcomed 935 new investors to The Cast and overfunded by 137% of our £600k target, taking in over £1M in investment!

We’ve come a long way since then…

GROWTH: In 6 months, we have 2X growth and are now at a run-rate revenue of £2.3M (Based on July 2023 revenue)*.

SUBSCRIPTIONS: We had just hit 5k subscriptions during the campaign last year — now sitting at 14k+!

AWARDS: We’ve won 10 industry awards (2 to be announced!), making us one of the most awarded deodorant brands in the UK!

*based on unaudited management accounts.

TEAM: Our team has grown to 11, welcoming a new CRM Manager, Digital Marketing Manager, Brand Executive and In-House Designer.

ACQUISITION: Our north star metric is “acquisition cost per subscriber” which was £76 in Feb 2023, and halved to £33 in just 3 months!

RETENTION: Our retention rates are in-line with some of the biggest subscription FMCG businesses in the UK.

Lifetime Value: LTV:CAC ratio is 5.2:1

REVIEWS: Now at over 5k+ 5 STAR reviews — more than we ever got as performers!

MENTORSHIP: We won a place on Walpole’s coveted “Brand of Tomorrow” scheme, where we receive regular mentorship and training. We are also being mentored by the CEO of Miller Harris, and the founder of Absolute Collagen!

PRODUCT: AKT deodorant is a premium offering at £19 and £16.15 for subscribers. We sit in line with our competitors like Malin + Goetz and Aesop, which gives us a great opportunity to expand our product range in a similar way.

Monetisation strategy

AKT currently sells premium, natural deodorant via 4 core channels:

D2C: ~90% of revenue* is from our ecommerce store. Meaning we connect directly with customers, nurture relationships and maximise margins.

Subscriptions: MRR (monthly recurring revenue) from our 14k+ active subscriptions drives an average of 42% of total revenue/month. Revenue retention in the last 12 months has improved over our average too!

Amazon: We’ve seen impressive growth on Amazon without having spent ANYTHING on ads. Now accounting for ~10% of total revenue.

Wholesale: We haven’t even hit hard on the retail market yet but are currently selling to premium wholesale partners, including StoreX at Soho House, John Bell & Croyden, Earl of East, Napiers and more (but D2C subscriptions is our main focus currently).
Opportunities:

1. Expand the range to improve AOV and LTV

2. Improve conversion rates with CRO project on website

3. Optimise our operations and supply chain to reduce costs and maximise efficiencies

Use of proceeds

SUBSCRIPTIONS: Improving Website UX and CRO as well as digital ads is our number 1 priority to increase subscriptions.

USA: We’re currently preparing to launch on Broadway, NYC, in Autumn 2023! We’ll utilise our incredible network of theatre and TV/Film performers, replicating the huge success we had with the West End theatre community.

BRAND AWARENESS: We continue to partner with other premium brands and businesses to improve awareness and tap into new audiences such as Netflix, King Charles, GQ heroes and Hollywood films.

NPD: We are currently developing a new range of products in the bath and body space that share the same ethos as The Deodorant Balm. We believe this will increase our AOV, LTV and brand loyalty — but moreover will continue to reduce plastics in the bathroom and improve our daily rituals.

Join us and the other 935 Seedrs investors for our second AKT!

Investors Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers, and Seedrs does not take any responsibility for them.

Key Information

Options

As part of an investment round in which Stonebridge was the lead investor, the Company granted Stonebridge and/or its affiliates the right to invest up to a maximum of £479,767 in one or series of tranches of no less than £200,000 per tranche at a pre-money valuation of £18m for ordinary shares. On the basis of the current fully diluted share capital, this equates to 34,470 shares. The option lapses on 26 August 2024 and may be exercised in cash at any time up to such date, or on a cashless basis if exercised on an exit event (eg. sale of the Company).

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

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Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £8,011,879

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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