Jump to:

Esooko hero image

Esooko

Follow

A fashion marketplace where users buy and sell clothes whilst funding environmental initiatives.

146%
 - 
Funded 25 Oct 2021
£125,001 target
£183,430 from 139 investors
More
Less

Business overview

Location Dorchester, United Kingdom
Social media
Website esooko.com/
Sectors Clothing & Accessories Digital B2C
Company number 12080254
Incorporation date 2 Jul 2019
More
Less

Investment summary

Type Equity
Valuation (pre-money) £1.8M
Equity offered 9.14%
Tax relief

EIS

More
Less

Business highlights

  • Featured by Apple as one of their favourite new apps.
  • 5,000+ users within the first two months of app launch.
  • Over 13,500+ instagram followers.
  • Market set to grow by 5x over the next 5 years.
More
Less

Key features

  • Secondary Market
  • Nominee investment min. £17.00 +
  • Direct investment min. £15,000.00 +

Idea

Introduction

ESOOKO is the ultimate OPPOSITE of fast fashion. We're turning fashion into a force for good.

On ESOOKO, users buy clothes or earn money through selling clothes whilst funding environmental initiatives. Through their buying and selling, they fund their choice of three environmental initiatives - tree planting, coral reef restoration or a campaign that empowers people to create sustainable fashion habits.

Users track their environmental impact through impact counters and earn badges when they hit certain impact milestones.

Second hand fashion is set to be the biggest market in fashion within 10 years and one of the primary reasons it is booming is due to the growing environmental conscience of consumers. ESOOKO taps into this environmental conscience in a way no other fashion marketplace is doing.

As 94% of Gen Z believe brands have a responsibility to address environmental and social issues, our aim is to become the go-to marketplace for environmentally conscious fashion lovers.

Substantial accomplishments to date

- Previously built Beta marketplace for less than £10k and achieved 4,800 signups, 12,500 items uploaded and £35,000 in sales.

- New bespoke IOS app launched on July 5th 2021.

- App has been chosen by Apple as one of their favourite new apps, along with three other mobile applications.

- App was featured by Apple on the homepage of the App Store as one of the "latest and greatest must download apps".

In the first two months of app launch, before paid marketing started, the ESOOKO app has gained:

- 5,000+ users

- 7,400+ clothing items uploaded

- £17,500+ in sales

ESOOKO's social media presence:

- 13,500+ Instagram followers

- Influencers supporting us with a combined following of 500,000+

Partnerships in place with non-for profit organisations:

- Coral reef restoration: coralive.org

- Tree planting: JUST ONE Tree

- Sustainable fashion education: Hubbub

Monetisation strategy

European fashion resale market will be worth £22 billion by 2023.

American fashion resale market will be worth £56 billion by 2025.

ESOOKO currently charges a 6% transaction fee.

In the future we will be adding:

- Premium options for sellers

- Advertising from businesses which have an environmental or social impact aspect.

Both these two additional revenue streams have been proven on other marketplaces.

Use of proceeds

The proceeds will be split between marketing and product development.

Marketing: 50%

- As our core demographic is Gen-Z and Millennials, we will be doing a combination of social media marketing and influencer marketing.

- The focus will be optimising the creatives, copy, placements and audiences with the aim of achieving a CPI of £2 and CPA of £14.

- We will also be introducing a referral scheme to further enhance ESOOKO's growth.

Product Development: 50%

- We will be iterating and optimising current features in the app throughout 2021 in order to ease the buying and selling process.

- Major product development will begin again at the end of 2021.

A portion of the investment reflected in this campaign was received by the Company in the 6 months prior to the launch of the investment round on Seedrs and the Company has started putting this to use.

Key Information

Material Debt:

The company has the following outstanding loans:

1. £25,000 Bounce Back Loan from Natwest at an interest rate of 2.5% per annum. The loan is to be repaid in monthly instalments with the final repayment in July 2026.

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

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

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 webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

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 £1,823,998

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