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Exchange Train Ltd

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Exchange Train is a disruptive online comparison website for property solicitors.

118%
 - 
Funded 13 Apr 2021
£100,006 target
£123,900 from 193 investors
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Business overview

Location Petersfield, United Kingdom
Social media
Website exchangetrain.co.uk
Sectors Property Digital Mixed B2B/B2C
Company number 12094692
Incorporation date 10 Jul 2019
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Investment summary

Type Equity
Valuation (pre-money) £578K
Equity offered 17.03%
Tax relief

SEIS

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Business highlights

  • Over 10,000 visitors with over 650 quotes generated from launch
  • Featured in The Negotiator and PropertyIndustryEye
  • Groundbreaking approach to an age old market
  • All figures achieved with a shoestring marketing budget
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Key features

  • Secondary Market
  • Nominee investment min. £11.56 +

Idea

Introduction

Exchange Train is a ground-breaking, disruptive comparison website where property solicitors have 24hrs to bid for home-movers' custom on a live, dynamic platform.

Comparison websites have revolutionised numerous industries by allowing customers the resources to shortcut the process of finding and vetting suppliers, products and services - all from the comfort of their own home. Exchange Train is no exception from the trend and is on a mission to help home-movers find the BEST property solicitors, for the BEST price.

Our experience is that your local estate agent will recommend to you an average of 4 solicitors when looking to move house. There are over 19,000 property solicitors in the UK each providing a different quality of service, price and turnaround time. What we uniquely do, is locate the top solicitors for the customer’s specific transaction, based not only on price, but what's most important to the customer.

Substantial accomplishments to date

Exchange Train has been actively trading for approximately 3 months on a limited marketing spend of only £750 per month. Since launch, Exchange Train has had over 10,000 visitors, more than 650 quotes generated, and 22 solicitors signed up to the service, with more pending.

Exchange Train has also recently partnered with a leading UK search company ‘SearchesUK’ assisting in the decrease of transaction times and decrease in conveyancing costs.

Exchange Train has also featured in TodaysConveyancer, The Property Industry Eye, and The Negotiator Magazine.

Using the words of the founder Alex - "Our biggest achievement to date isn't the number of customers we have driven toward the website, it’s the impact and growth we’ve had considering the limited finances and resources we dedicated. The market testing has shown incredible potential and scalability."

Monetisation strategy

Our plan is to create a system that produces a consistently growing stream of income. Commission is our principal source of revenue until we acquire sufficient market share and deploy our subscriptions and data-mining models - We call this 'MODEL 2'.

MODEL 2 charges each solicitor:

- Subscription Fees
- Commission
- Remarketing
- Search Packs
- Data-mining + Market optimisation packages/training
- Full-service volume discounts

After the implementation of MODEL 2, we plan to add channels of revenue which will include surveyors, mortgages, electricians and allied trades, removals and utilities. We consider Exchange Train both B2C and B2B as our revenue is recognised through our solicitor partnerships however, we are a consumer champion.

Use of proceeds

Funds from this round will be used to accelerate the growth of our service by investing in the following areas.

- Website development (30%)
Full automation of the website to create self-running and self-sustaining system as well as reducing website management costs. This will also enhance the customer journey, solicitor engagement and experience.

- PR (36%)
Having tested different marketing strategies we forecast PR will play a major part in helping grow the brand and demand over the next 24 months.

- Google Ads & Social Media (18%)
The investment in our digital strategy will continue to accelerate growth.

- Business Operations (16%)

Website and business upkeep and resources.

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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

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 £578,000

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).

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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.

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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.

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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.

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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.

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