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Blind Cupid

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An intelligent matchmaker that connects compatible people in any app or place.

167%
 - 
Funded 27 Jul 2022
£250,003 target
£418,772 from 81 investors
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Business overview

Location London, United Kingdom
Social media
Website www.blindcupid.co.uk
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 12065615
Incorporation date 24 Jun 2019
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Investment summary

Type Equity
Valuation (pre-money) £5M
Equity offered 7.70%
Tax relief

EIS

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Business highlights

  • Technology which can power any dating app (B2B) + our own app (B2C)
  • Market worth $8.9bn ($11.5bn by 2026); 83.5% increase in users by 2026 (758.1m)
  • 90% had better dates and 80% got the relationship they wanted
  • Significant capital raised by team of experts
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Key features

  • Secondary Market
  • Nominee investment min. £13.41 +

Idea

Introduction

Our matchmaking technology can power the whole global dating market ($8.9bn; $11.5bn by 2026), and beyond.

Our tech saves people time, money and heartache because there was no reliable way, until now, for dating app users to know how compatible a person is in all the key make-or-break areas, inc: 'how' two people think and their attitudes towards love, sex, money and more.

It’s a costly problem…

• Men spend £3,807 on dating and go on 36 dates each year
• Women spend £2,569 on dating 24 men and still fail to find love
• According to our research, singles spend 82 hours to go on dates each year (including travelling)
• The average singleton spends 10 hours per week on dating apps
• People spend £40,406 getting married and divorced (excluding settlements)

… that Blind Cupid can solve.

Blind Cupid works with any dating app so members get the chance to meet the most compatible people in any app! We also facilitate highly compatible in-app matching within Blind Cupid. Members simply share their Cupid link (to their BC profile) with matches in dating apps, and we do the rest. We are also planning API integration into other dating apps.

We’re becoming the way single people make decisions about who to their spend time and life with.

Substantial accomplishments to date

Our architecture enables a capital efficient, market re-defining, enduring business:

Blind Cupid accesses all 413 million online dating customers (758.1m by 2026) without needing to tempt them from the apps they already use, because our technology works inside of these apps. Compatibility detection is designed to improve over time, on an increasing number of parameters.

Rather than compete with dating apps for their users, our automated, scalable technology lets these apps focus on features and market positioning, whilst we can provide the whole market with the compatibility technology dating apps need and their users want.

It means two users of dating app Hinge could see how compatible they are, and we can also connect a user of Hinge and a user of Bumble in our own app if they’re compatible. Our innovative approach opens up the whole global market, creates B2C and B2B revenue streams, is capital efficient, avoids barriers to entry and gets members the best results.

Members love our product because it gets results:

• 100% of members chose to get Cupid Scores with people from Hinge and Bumble, when we piloted the feature; this means we exponentially grow with no capital cost

• 90% saved time and money and experienced deeper connections on their dates

• 75% said Cupid conversations help them talk to people more deeply than normal

• 80% of members got the relationship they wanted when we launch our pilot

Monetisation strategy

B2C model:
We demonstrate value in the first 3-free interactions. Members then can pay either for interactions (to interact with someone they’re fundamentally compatible with on Blind Cupid, or to use their Cupid link in another app to know whether they are compatible) or subscription plans (unlimited interactions + premium content and events).

People pay for a member subscription or interaction-based plan

Subscriptions (fixed term for a fixed price):
Lifetime £149.99
6 months £89.99 (£15 p/m)
3 months = £59.99 (£20 p/m)
1 month = £29.99.

Interaction plans:
30 for £39.99 (£1.33 each)
20 for £29.99 (£1.50 each)
10 for £19.99 (£1.99 each)

Unit economics:

• Forecasted weighted average customer lifetime value £28.59

• Average customer/member acquisition cost £2

• Forecasted average customer contribution £26.59

High cash contribution and payment in advance means minimal working capital is needed.

B2B API revenue – we are currently in discussions with other dating apps for revenue-sharing deals whereby we integrate our technology into theirs.

Market Opportunity:

• Global dating app users: 413m (2022) and 758.1m by 2026.

• Global online dating revenue: $8.9bn in 2022 with CAGR of 6.38% ($11.5bn by 2026)

• UK market: 13m users by 2026 (10m in 2022)

• UK market: £206m annually, CAGR of 2.60%

Use of proceeds

We could grow from operating cashflows because the business generates cash efficiently.

What your investment means is:

• Cupid link, handle and QR code sharing for Cupid Scores ‘becoming the new normal’

• Accelerated revenue growth and market penetration

• Faster international growth in international markets (a West and East coast USA focus)

• Implementation of further artificial intelligence into the core product to enhance the product

• Further API development so our technology can be integrated into the backend of dating apps

Capital allocation by category:

• Hiring (Product & Marketing) - 50%

• Market Expansion and Launches – 45%

• Machine Learning Related Patents – 5%

It is projected that there will be an 83.5% increase in dating app users by 2026 from now (2022). With your investment, we can be at the centre of this global growth. In every app and country in the world, helping people make better decisions about who to spend their time and lives with.

Join us, now!

Key Information

Debt

The company has the following outstanding loans: £50,000 Bounce Back Loan from Royal Bank of Scotland at an interest rate of 2.5% per annum. The loan is to be repaid in monthly installments with the final repayment by 2026.

The funds raised from this investment round will not be used to repay these loans.

Tax Relief

The company has £45,114 of SEIS allocation remaining. The first £45,114 invested into this campaign will be eligible for SEIS, and investments above this will be eligible for EIS.

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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.

This campaign for Blind Cupid has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 17 May 2022 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 £5,007,321

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.

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Equity Offered

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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.

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Custodian

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Secondary market

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Direct investment

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Payment options

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Business Involvement

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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.

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Security Token

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