Camptoo

Idea

Introduction

Why does motorhome ownership cost thousands of pounds each year, while it’s sitting idle on the driveway for 45+ weeks? At the same time, why is it very difficult as a traveler to rent a motorhome during summer school holidays? Via the Camptoo sharing platform travellers can rent a motorhome directly from the owner. This is a win-win for both private motorhome owner and traveler!

Through our web app, users can easily find and rent any of the available 3,000+ vehicles offered in 15 countries. Our product has taken something and made it accessible to a large audience. It turns motorhome ownership into revenue generating venture instead of an expensive hobby.

Launched in 2014, more than 175,000 nights have been booked so far. By removing the friction in the process of renting a motorhome, campervan or caravan, we've made this way of traveling accessible to everyone. Over 50,000 users have experienced traveling with Camptoo, and is increasing year on year.

Intended impact

At Camptoo, we see the value of being in nature for everyone. It’s our mission to connect everybody with the outdoors by offering the most simple, safe and fun services for motorhome, campervan and caravan sharing. Our objective is to rent out 2% of the 5.2 million registered vehicles in Europe by 2022.

Many traditional rental agencies find it difficult to provide sufficient supply during high season. The choice in the type of RV can also limited to a few standardised vehicles.

Our mission is simple: We empower people around the world to experience the freedom and joy of camping with motorhomes, outdoors.

The European caravanning & camping market is a € 37 billion market and 382million nights are spent on campsites yearly, with the UK as one of the most prominent markets in both overnight stays and registered motorhomes/caravans.

Servicing excess demand by using the idle capacity increases the total market size, creating a holiday option that is competitive to apartment rental, hotels, and holiday bungalows. We estimate this to create a €44.8 billion market potential in Europe, offering a € 4 billion+ revenue potential for sharing platforms.

Substantial accomplishments to date

Exploring the outdoors with campervans or motorhomes is made accessible for everyone. For travellers, we offer a broad range of vehicles that can be picked up anywhere and at any time desired. For owners, we offer seamless transactions that include a complete insurance and integrated security checks.

Camptoo was part of the Google Launchpad accelerator program in 2015.

Camptoo was awarded “most promising startup” in The Netherlands by Deloitte Technology Fast50 Jury in 2017 and 16th fastest growing tech company in Europe by TheNextWeb in 2018.

Monetisation strategy

Camptoo handles all payments, contracts and post booking admin involved in motorhome rental. We generate revenue by charging a 15% commission fee over every rental transaction on the platform and a £25 service fee. Above this, Camptoo receives kickback fees on motorhome insurance purchased through our platform.

Camptoo provides a cost-efficient alternative for both ownership and traditional rental.

Motorhome owners:
- Can earn £5,000 - £10,000 per year (at around £90 per night) instead of just having an estimated £ 3,000+ in annual costs (eg maintenance, storage, insurance, road tax, depreciation).
Travellers:
- Can rent a motorhome when they want, where they want and at an affordable price.

Use of proceeds

Camptoo raised EUR 316,000 in November 2018 to further build out the presence in the UK and Australia. Our main goal was to accelerate international growth and to expand our team into Australia. After achieving these goals, we set out to achieve new, more ambitious goals.

The proceeds of this round will be used to:
1) Further accelerate marketing campaigns in the UK and Australia for both travelers and owners.
2) Get an experienced CMO on board.
3) Further optimize our current web app.
4) Set up and run local operations in our currently most promising market, the UK, whilst onboarding a dedicated country manager.
5) Cover regulatory and legal expenses alongside our international expansion.

Important information

Please note, the business has an outstanding shareholder loan of a remaining balance of €160,000 with an interest rate of 8% to be repaid by March 2023.

The business has an existing overdraft with an interest rate of 6.78% pa, with a remaining balance of €79,100 to be repaid by October 2022, and a credit line of a total of €247,000 with an interest rate of 5.85%, with a remaining balance of €172,900 to be repaid by October 2022.

The Company currently has a number of convertible loans in issue through two Dutch crowdfunding platforms, OnePlanetCrowd (OPC) and Leapfunder. The holders of these loans have the right to convert on this round. The pre-money valuation for this round has been set on the assumption that all OPC and Leapfunder convertible loans will be converted into shares before this round to minimise the impact of any dilution as a result of the conversion.

On conversion, shares issued under the OPC convertible will carry anti-dilution rights and OPC shareholders will have the right to require the Company to repurchase their shares.

The company has two classes of shares in issue, A class shares and non-voting (ordinary shares/ B class shares). Seedrs will be receiving A class shares which carry voting rights.

For more information, please view ‘Important Information’ in the documents section.