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EverTrek

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EverTrek is a multi award-winning adventure travel brand taking adventure to the next level

101%
 - 
Funded 28 Dec 2022
£150,001 target
£202,833 from 149 investors
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Business overview

Location Caerphilly, United Kingdom
Social media
Website evertrek.co.uk
Sectors Travel, Leisure & Sport Digital B2C
Company number 10586281
Incorporation date 26 Jan 2017
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Investment summary

Type Equity
Valuation (pre-money) £6.5M
Equity offered 2.30%
Tax relief

EIS

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Business highlights

  • Running trips across 14 countries
  • Winners of "Best Trekking Company" in British Travel Awards
  • Loyal community of over 120,000 challenge hungry adventurers
  • Sales are accelerating post pandemic. £2.4mil in 2022*
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Key features

  • Secondary Market
  • Nominee investment min. £13.00 +

Idea

Introduction

We have been busy filling our EverTrekkers' lives with adventure, and now it’s time to trek and climb even higher!

In 2022 the adventure travel market is estimated to be worth over £18bn in the UK and over £400bn internationally, and is set to grow as ‘Challenge Hungry’ adventurers are on the hunt for even more adventures.

EverTrek has grown a lot from its mountainous roots when our founder and CEO Andy Moore returned from a trek to Everest, and now we run treks and expeditions to over 14 countries.

The Company has gone from strength to strength; what was an idea on the back of a trip to Nepal has now grown to an EverTrekker community of more than 120,000 adventure-minded people.

That journey continues as we’ve had our busiest year ever in 2022 with more than 98 groups and 800 EverTrekkers trekking to Everest alone. That’s 29,700 cups of tea drunk, 4.4 mil metres of altitude climbed, and almost 200 million steps completed. Strava is getting a right old workout!

Substantial accomplishments to date

2016:
• We said Namaste to our first EverTrekker at Everest Base Camp

2017:
• Rebranded to EverTrek. Adventure would never be the same again.
• Introduced pay monthly option for customers so they could spread the large cost over flexible monthly payments.

2018:
• We were Voted Tourism ‘Welsh Startup of the Year’.
• We grew our revenue 1,090% in 2018 compared to £28,441 in 2017*.
• Launched marketing campaigns in the US.
• Members Area Launched.
• Journey to Base Camp film released.

2019:
• Mountain Malarkey podcast launched reaching number 5 in the UK wilderness charts.
• Sales grew by more than 125% in 2020 compared to 2019*.
• EverTrekker personalised Trip Planners were launched to the community, and trip prep got even better!

2020:
• The Tuesday Tune-In LIVE show was launched to keep our community engaged during the pandemic, and we attracted 260,000 viewers on a single channel in the first year.
• Although no trips, we doubled our customer bookings.
• We ran 219 facebook campaigns with a total Ad spend of £23k.
• We released our second adventure film ‘Kilimanjaro - The Long Way’.

2021:
• We released the mobile Trip App for customers using the Vamoos app structure.
• Raised over £10,000 of support for our worst affected guiding teams.

2022:
• We won Customer Service & Commitment award in the Wales Business Awards.
• Sales grew with total sales of £2.4 million so far this year, with an ad spend of around £55k.
• We’re in the final 3 companies in British Travel Awards for Best trekking holiday company. We'll find out the result at the end of November!
• We released our third adventure film ‘Toubkal - First Ascent’.

*Based on unaudited management accounts.

Monetisation strategy

We work directly with third-party partners under the Evertrek brand, where all revenue comes directly through us meaning we can build a more powerful profit margin approach which has enabled us to re-invest and grow the business over the last 4 years.

Marketing that works - strong ROI on ads so far across Facebook, Instagram and TikTok.

However, it’s not all because of the ads.

A Loyal customer base - 93.5% of EverTrekkers customers chose to keep their bookings during the pandemic showing epic future commitment. This loyalty has enabled us to create a passionate adventure community where we have huge repeat business.

Average sale value has increased from £1405 in 2018 to £2150 in 2022*. In 2022, we have had 1,697 bookings which has increased significantly from 98 bookings in 2018.

The Customer Journey - We’ve worked hard to develop and enhance the booking journey to provide a more streamlined and enjoyable experience for our customers.

*Based on unaudited management accounts.

Use of proceeds

Life is all about adventure and with this investment we will look to further develop and grow the business to provide even more awesome adventures for our EverTrekker community as well as add more value to the business.

New Adventures:
We'll work on launching new trips in areas of the world we don’t currently operate in. How exciting is this?!

New Systems:
We’ll get to work on completely revamping the entire booking system meaning a slicker booking process for our community.

New Community Events:
We plan on launching some awesome NEW EverTrekker events around the UK. Think adventures, inspiring talks, music, and dancing, you get the vibe!

Expand our Growth Internationally:
We’ve briefly marketed outside of the UK but our aim is to start opening up our marketing campaigns to the US and Europe.

Saving the planet one trek at a time:
We will look to roll out water filters on all trips, reducing plastic use, as well as increasing our carbon offsetting and re-wilding efforts with our partners Mossy Earth.

Key Information

Material Debt:

The Company has the following outstanding loans:

1. £40,000 loan from HSBC BBL at an interest rate of 2.5% per annum in 2020. The loan is to be repaid by May 2025 with a monthly repayments of £709. The current outstanding balance is £29,522.

2. £15,000 loan from Federal Capital at an interest rate of 4.2% per annum in 2022. The loan is to be repaid by April 2023 with monthly repayments of £1,785. The current outstanding balance is £6,150.

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

Investor Perks

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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

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This campaign for EverTrek has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 11 November 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.

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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 £6,500,000

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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.

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