Jump to:

Bundlee hero image

Bundlee

Follow

We are a sustainable and scalable kidswear rental subscription, creating a better future to grow into.

109%
 - 
Funded 18 Jul 2023
£330,001 target
£364,252 from 150 investors
More
Less

Business overview

Location London, United Kingdom
Social media
Website bundlee.co.uk/
Sectors Clothing & Accessories Mixed Digital/Non-Digital B2C
Company number 10869679
Incorporation date 17 Jul 2017
More
Less

Investment summary

Type Equity
Valuation (pre-money) £4M
Equity offered 8.29%
Tax relief N/A
More
Less

Business highlights

  • 233% subscriber growth in 2022 to over 1,000 subscribers
  • Brand partners include Stella McCartney Kids, Patagonia and MORI
  • Tech powered scalable system has completed over 60,000 rentals
  • Backed by Monzo & Sweaty Betty founders + Mindful Chef investors
More
Less

Key features

  • Secondary Market
  • Nominee investment min. £50.88 +
  • Direct investment min. £20,000.00 +

Idea

Introduction

Kidswear is the fastest fashion. Little ones are constantly outgrowing their clothes!

The average family spends over £2,000 on kids’ clothes annually, their third largest expense after childcare and food. Whilst outgrown pieces contribute to the 300,000 tonnes of clothing that the UK sends to landfill every year.

Searching for the next size up, and figuring out what to do with outgrown clothes, gets very tedious very quickly.

Families need a solution that’s less wasteful, expensive and time-consuming…

Hi! We’re Bundlee - the rental subscription service for kidswear. We are on a mission to create a better future for little ones to grow into. Our innovative circular model helps parents save money, time and waste, whilst restoring peace in their homes.

We aim to disrupt the £6.8 billion UK and $260 billion global childrenswear markets for the better, by designing waste out of fashion. We aim to extend the lifespan of clothes by 400% and are proud to have sent zero clothes to landfill.

Substantial accomplishments to date

Our goal is to build the leading online multi-brand rental destination for kidswear in the UK and beyond.

2017 - 2019

• The idea, research and MVP

• Eve writes her Master of Enterprise thesis on childrenswear rental
• Creates MVP of Bundlee to test the idea

2020

• Eve goes full-time on Bundlee (wahoo!)
• Awarded Innovate UK Smart Grant, a government grant for ‘the best game-changing and world-leading ideas’, to build our proprietary Inventory Management System that links with our state-of-the-art fulfilment partner
• Launch V1 of Personalised Plan with our pioneering brand partners: Patagonia, Mini Rodini, The Bonnie Mob and MORI
• Eve is listed on Forbes 30 under 30

2021

• Angel investment round brings in investors experienced in subscription and rental startups, Mindful Chef and Music Magpie
• Product and supply chain development of our own-brand clothing range, Bundlee Originals

2022

• Bundlee Originals launches featuring family favourites like 2-way zip up sleepsuits
• Custom website developed with the mission to create an experience so intuitive it’s easy even with one hand during a 3am nighttime feed. This was awarded Subscription Website of the Year
• Brands, including Vivobarefoot, join our collaborative model
• Stella McCartney Kids joins our rental revolution!
• Team grows from 2 to 5
• We achieved 233% subscriber growth
• Listed by Drapers as One To Watch
• Raised £270K from Angel investors

Monetisation strategy

We make recurring revenue through our monthly subscription model. We offer 2 plans so families can choose the best fit.

Whilst having profitable unit economics for us, our model also saves families over 70% and reduces carbon dioxide equivalent emissions by 86% compared to buying new clothes. It’s win-win-win!

Our scalable system has already powered over 60,000 clothing rentals, enabling us to collect valuable first-party data on the rental lifecycle of our clothes.

Use of proceeds

The rental revolution has begun! With the global online clothing rental market forecast to have a 10.4% CAGR over the next 5 years, we believe the future wears Bundlee.

We’re raising funds to enable the next stage of our growth and inspire thousands more families to subscribe. With the funds we plan to extend our available clothes sizes, create new brand partnerships, improve our customers’ experience and grow our talented team.

Talent: 52%

Marketing: 23%

Digital Product: 4%

Inventory: 21%

Our goal is to save 500,000 kg CO2e and 90 million litres of water with the subscriber growth from this fundraise.

The result? Creating a better future for little ones to grow into.

We’d love you to join our journey!

Key Information

Material Debt

The Company has a £34,937.10 Bounce Back Loan loan from Lloyds Bank at an interest rate of 2.5%. The loan is to be repaid in May 2026.

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

Outstanding Warrant

The Company has an outstanding warrant instrument, entered into in 2018 with the University of Manchester. These Subscription Rights entitle the University of Manchester to be issued a number of shares equal to 2% of the fully diluted share capital of the Company. It can be exercised at any time prior to November 2068 , conditional on an Exit Event occurring (a share sale, asset sale, IPO or the company’s winding up / insolvency).

Shareholders and investors in this round will not receive pre-emption rights in relation to the issue of shares under this Warrant Instrument. On its exercise, the Warrant Instrument will therefore result in future dilution to all shareholders.

Investor 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 and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Open an account to get access to the team members of Bundlee

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

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

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 Bundlee has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 2 June 2023 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 £4,008,986

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

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

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

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.

Find out more

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.

Find out more

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.

Find out more

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.

Warning

You are following a link outside of europe.republic.com.

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

ContinueCancel