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AndCo

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The AndCo platform delivers bookable hot-desks & meeting rooms in hotels & restaurants all over London.

107%
 - 
Funded 28 Feb 2020
£250,003 target
£269,231 from 284 investors
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Business overview

Location london, United Kingdom
Social media
Website www.andco.life/
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 10809914
Incorporation date 8 Jun 2017
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Investment summary

Type Equity
Valuation (pre-money) £5M
Equity offered 5.10%
Tax relief

EIS

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Business highlights

  • 36,000+ hours booked across 90+ AndCo venues
  • 1200+ Members
  • Revenue growth +27% month on month
  • Proven Business model. Rapid Scalable Growth
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Key features

  • Secondary Market
  • Nominee investment min. £11.88 +
  • Idea
  • Team
  • Updates
  • Investors 284
  • Discussion
  • Documents

Idea

Introduction

We believe that everyone should be able to work from wherever. Rather than on-the-go professionals spending their hard-earned cash on co-working spaces and meeting rooms designed to look like hotel lobbies and fancy restaurants, we turn actual hotel lobbies and fancy restaurants into co-working spaces.

So how does it work? Simple. You pick one of our huge list of spaces that you like, book it, turn up and get some work done. Whether on mobile, tablet or laptop you can easily browse by location, date and you can see who else is working there as well!

You’ll have a desk reserved for you, & access to the secure AndCo WiFi (& enjoy an exclusive uniform login across all AndCo venues) for the duration of your visit...also no competition for spots or steely stares from the staff. Through their venue dashboard, they already know you're coming!

AndCo's super simple subscription price of £20 a month or £99 a year, with no sign-up or booking fees, AndCo fits in with how you want to work.

KEY HIGHLIGHTS
The AndCo marketplace empowers both the f&b/hospitality sector to optimise and develop their own co-working and meeting rooms whilst the on-the-go working professionals realise more affordable sustainable alternatives.

B2B and B2C subscription model, that has implemented a strategy that addresses the multigenerational needs for an on demand, community enabled and experienced driven alternative workspaces.

AndCo has created a strong position in a market with high barriers to entry through our approach to venue onboarding.

Intended impact

Remote work isn't niche anymore—it's everywhere - Zapier Nov 2019

More than 90% of the work-related carbon footprint of the average employee is accounted for by their commute - edie.net.

AndCo is an open-source, cost-effective, sustainable solution to co-working.

The AndCo marketplace empowers both the f&b/hospitality sector to optimise and develop their own co-working and meeting rooms whilst the on-the-go working professionals realise more affordable sustainable alternatives.

🌍 Remote working is valued at £74 billion in 2020 – Marcom News

🌍 In total, it’s estimated that the self-employed market contributes £275 billion to the UK economy – Simply Business

🌍 Estimated 1 Billion remote workers by 2035 - Nomad List

🌍 FirstBase have predicted that by 2024/2025 123m people will be working remotely, and we agree

Substantial accomplishments to date

ANDCO IN NUMBERS:

- 90+ Venues
- 1200+ Members
- 36,000+ hours booked through the AndCo platform
- 300+ venues in the pipeline
- £120+ customer lifetime value
- +50% conversion rate
- +27% growth month on month
- 10+ Brand partnerships

PRESS

40+ pieces of coverage in the national, local and trade press including:
- Forbes
- The Telegraph
- Evening Standard
- City AM
- The Metro
- Restaurant Industry News
- British Airways & Easyjet In-Flight Magazines

Monetisation strategy

1. Subscription Model - Rolling subscription paid by members of £20 per month or £99 a year

2. Meeting room booking fee - AndCo will take a percentage of the meeting room fee

3. Brand Partnerships - fee per acquisition partnerships

Use of proceeds

AndCo is now ready to accelerate growth with spend specifically directed to:

MARKETING - Increase marketing spend, optimising marketing channels and demographic data. Marketing channels to include, social media paid ads, digital display ads, content marketing, PR and partnerships. Expansion on community interaction between members, continued growth of already successful meet-ups and events

DEVELOPMENT - Further platform development, dynamic meeting room integration further feature build-out.

RECRUITMENT - Expansion of team as AndCo scales.

WORKING CAPITAL - Expansion of number of venues from the pipeline of over 300. Moving forward towards being cashflow positive.

Investor Perks

Investment of £250+ and receive free 6 months AndCo membership
Investment of £500+ and receive free 1 year AndCo membership
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.

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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

Only shareholders can access this page

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

Buy shares

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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.

This campaign for AndCo has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 7 January 2020 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

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 £5,008,197

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).

Learn more about investing and pre-emption rights.

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.

Learn more about Custodian here

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.

Learn more here

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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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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