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Flagship Reporting

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A new SAAS platform designed to revolutionise reporting for Accountancy firms and finance professionals

192%
 - 
Funded 1 Dec 2021
£125,001 target
£249,221 from 323 investors
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Business overview

Location Radlett, United Kingdom
Social media
Website flagshipreporting.com/
Sectors SaaS/PaaS Digital B2B
Company number 09714495
Incorporation date 4 Feb 2021
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Investment summary

Type Equity
Valuation (pre-money) £1.8M
Equity offered 11.82%
Tax relief

EIS

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Business highlights

  • Global business reach with paying customers on 3 continents
  • Advanced product features beneficial to financial reporting
  • Strong management team with experience in scaling businesses
  • Size of market worth $12b and growing at an annual rate of 8.5%
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Key features

  • Secondary Market
  • Nominee investment min. £10.80 +

Idea

Introduction

We have developed an automated reporting tool that integrates with core accounting systems that help Accountancy firms and finance professionals to produce management reports and key financial insights into their business.

Our platform replaces the need to use complicated Excel spreadsheets that are time-consuming and prone to error. Our reports take minutes to produce and seconds to run and refresh the data.

Some of our key features include

Substantial accomplishments to date

Live product with paying customers across the UK, Australia and South Africa

Accredited Xero partner with a 5-star rating on the Xero app store.

Strong management team with industry experience.

In discussions with set up of partnerships in Australia and South Africa

Advanced product features that we believe are unique to financial reporting, including a drag and drop interface that is fully customisable

4.8-star rating on Google since launching in April 2021

Monetisation strategy

Flagship plan to generate revenues from multiple streams:

1) The main revenue to be generated by direct sales to Accountancy firms and SMEs.

2) Establishing partnerships globally. We are currently setting up distributors in Australia and South Africa.

3) Joint venture agreements with digital partners and accountancy bodies

4) Leads from key software vendors ( mainly Xero, QuickBooks and Sage)

5) Marketing activities - SEO, Social Media, Trade Shows and direct selling

Customers pay on a monthly or yearly subscription. They can upgrade/downgrade and cancel their subscription at any time.

Use of proceeds

Software development and enhancements

We use a 3rd party software developer and will be working with them to develop our platform, including features such as:
- Multi-currency consolidations
- 3 way forecasting module
- AI alerts and commentary

Integration with Quickbooks and Sage

This will enable us to rapidly scale both locally and internationally.
- Sage/Xero/QB has over 80% of the market.
- QB dominates in the US market so we need this to enter into the US which is the biggest market for us.

Marketing (digital, SEO, Trade shows)

We plan to develop our marketing strategy to include:
- Creating partnerships in other international key markets. This will enable us to grow quicker and easier to support customers on different time zones.
- SEO will help enable us to grow much quicker by appearing on page 1 for our keywords
- We believe that partnering with accounting bodies will help us scale much quicker as these bodies will recommend our platform to their members
- Trade shows will get our name and brand out in the marketplace

Key Information

SEIS/EIS Tax Relief

The first £220k invested in the round is eligible for SEIS tax relief and will be offered on a first come first serve basis.

This is because 70K of lead investment is not eligible for SEIS, therefore the full 150K allocation is available on top of this.

Investments over £220k will be eligible for EIS.

Outstanding Loans

There is a £287,000 loan from Searle Goott,with an interest rate of 5% per annum. This loan will not be repaid until 31st January 2023 at earliest,however the lender has the right to demand repayment in the event of a sale of 50% or more of the equity of the company. The loan will also not be repaid until the company is profitable.

There is a loan of £20,000 from FD Recruitment Limited, a dormant company that is solely owned by Searle Goott. The loan has an interest rate of 5% per annum. This loan will not be repaid until 31st January 2023 at earliest,however the lender has the right to demand repayment in the event of a sale of 50% or more of the equity of the company.

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

Director Disclosure

The director of Flagship Reporting, Searle Goott, is also the director of FD Recruitment Limited, a dormant company that is solely owned by Searle Goott.

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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 £1,800,000

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.

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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.

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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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