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Findingaplace

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Findingaplace is revolutionising the rental search experience, removing the need to even search at all.

118%
 - 
Funded 10 Feb 2022
£250,001 target
£311,669 from 352 investors
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Business overview

Location London, United Kingdom
Social media
Website london.findingaplace.com
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 06253289
Incorporation date 21 May 2007
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Investment summary

Type Equity
Valuation (pre-money) £1.5M
Equity offered 16.51%
Share price £1.35
UK tax relief

EIS

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Business highlights

  • Disruptive prop-tech SaaS platform established & ready to scale.
  • 5 star reviewed service, endorsed by tenants and agents.
  • Over 15,000 tenant registrations since Spring 2021 launch.
  • Working with hundreds of agents London-wide.
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Key features

  • Secondary Market
  • Nominee investment min. £10.80 +
  • Direct investment min. £20,000.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 352
  • Discussion
  • Documents

Idea

Introduction

For renters, finding a property is not easy. It’s time consuming, stressful & full of disappointment but thankfully, Findingaplace exists to revolutionise the property search experience, removing the frustrations faced when renting a new home.

We save tenants over 20 hours otherwise lost trawling through property portals by connecting them only to Estate Agents who have properties that match their exact requirements.

Research by RWB reveals that half of searching tenants say the property they were looking for was no longer available and almost 40% never even received a reply at all. Unsurprisingly, a huge two thirds of tenants are not happy with the overall rental experience.

It takes less than 60 seconds to complete our free-of-charge online form removing the need to search at all. We save tenants time, protect their privacy and even give them an opportunity to hear about new properties that are yet to be advertised.

We’re also here to help the Agencies too, by providing pre-vetted tenants we save them resource and costs associated with both vetting and advertising. It’s a win/win for everyone.

Substantial accomplishments to date

· A highly scalable, disruptive SaaS prop-tech platform launched in London Spring of 2021. Revenue generating and ready to scale.

· We are proud to have welcomed over 15,000 tenant registrations - with ambitious marketing plans to share our proposition far and wide.

· We enjoy working with hundreds of estate agents throughout London, including the largest brands in the industry as well as fantastic independents too.

· Feedback from both tenants and agents has thus far been overwhelming positive, in fact we have only ever received 5-star reviews.

· Patentable and innovative number masking technology safeguarding our tenants contact information if required.

· Featured in multiple leading industry press including EstateAgentToday & The Negotiator as well as being an industry source for national press The Evening Standard.

Monetisation strategy

Findingaplace collects a monthly subscription from our Estate Agent partners in order to access our prop-tech platform which provides them with pre-vetted tenant applicants that specifically match their bespoke criteria such as coverage area, property type, budget etc.

Findingaplace has global reach, our journey has begun in London but our scalable SaaS platform is designed to operate in unlimited markets & regions.

Different subscription package options provide flexibility to our estate agent partners and enable our service to support independents as well as national brands alike.

Our immediate goal is to solidify our position in the London market before scaling quickly into major cities across the UK and internationally.

Our technology allows us the opportunity to increase the product offering including property sales as well as strategic partnerships with other services related to the property sector, generating a multitude of additional revenue streams.

Use of proceeds

With the backing of some truly incredible anchor investors bringing industry and commercial experience galore - as well as YOU - we aim to focus on the following areas;

Customer acquisition - Grow our proven marketing strategy to increase awareness and exposure in the property market, bringing our concept to more tenants who deserve better. In turn, this supports our targeted growth ambitions.

Team expansion - To keep up with demand and successfully induct our new agencies, support our tenant applicants as well as introduce business development to unlock partnerships given our unique position.

Technology and platform development - We have an aggressive roadmap for launching new market-leading features which include updates on both tenant and agent sides of our platform. These will improve levels of automation, enable further App development and provide technology preparations for significant scaling.

Key Information

Debt

The company has one £37,500 Bounceback loan at an interest rate of 2.5% per annum starting from May 2020. The loan is due to be repaid May 2030. The funds from this round will not be used to repay this loan.

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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

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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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 Findingaplace has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 25 October 2021 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 £1,500,000

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 Republic Europe.

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 Republic Europe

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 Republic Europe 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.

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Custodian

If you invest in this Campaign, Republic Europe 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 Republic Europe will not benefit from any rights under a shareholder agreement. As a result, Republic Europe 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

If available, 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 or using funds in your investment account. 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 Republic Europe. 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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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Republic Europe.

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