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FounderTribes

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FounderTribes empowers you to start up and scale up your business via our educational app.

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Funded 15 Mar 2021
£785,000 target
£804,770 from 0 investors
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Business overview

Location London, United Kingdom
Social media
Website foundertribes.com
Sectors Content & Information Digital Mixed B2B/B2C
Company number 12967944
Incorporation date 22 Oct 2020
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Investment summary

Type Equity
Valuation (pre-money) £3M
Equity offered 20.74%
Tax relief

EIS

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Business highlights

  • Untapped market of an estimated 581m entrepreneurs
  • £20,000 revenue signed
  • Brand-name instructors - Jen Wong, Anne Wojcicki, Stacey Abrams
  • Co-investors include US unicorn founders who have raised $2bn+
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Key features

  • Secondary Market
  • Nominee investment min. £10.00 +

Idea

Introduction

As of 2017, there were 582 million entrepreneurs globally. We estimate 581 million will never gain access to VC funding, get into an accelerator, and will never get any meaningful entrepreneurial education. That’s an underserved market of worth at least $80bn.

Talent is distributed equally; opportunity is not. We exist to change that.

The Solution:

- Get personalised feedback from our community of seasoned entrepreneurs and investors
- Get actionable tips from world-class mentors and industry-specific networks to work on problem areas
- Get warm intros to VCs, angels and alternative financing to secure the funds to start and scale your business

The Market:

On trend: Remote learning is now the norm
A Netflix moment for education: EdTech is forecasted to have a 3.48% market penetration in a $5 trillion global education market in the US and Europe. As a comparison, online penetration is 10-20% in retail industries.
A rapidly growing market with an estimated 16.3% CAGR by 2025

Substantial accomplishments to date

- Raised £700,000+ as part of this round, including investment from brand-name investors, including a well-known UK-based billionaire; Sander Daniels, co-founder of Thumbtack, which has raised over $436m from Sequoia and Google; Zac Bookman, founder of OpenGov, which has raised over $140m from a16z amongst others; Jamie Broderick, former Head of Wealth Management at UBS for UK and Jersey; Dana Wagner, CLO at Impossible Foods, which has raised $1.5bn; Ragui Selwanes, director of B2B payments at Amazon; Alex-Handrah Aime, director of network investments - emerging markets at Facebook.

- Videos and resources from brand-name instructors such as Stacey Abrams, former Democratic VP candidate; Jen Wong, COO of Reddit; Anne Wojcicki, founder of 23&me; and Steve Blank, the godfather of Silicon Valley.

- A database of over 400 investors and 500 mentors.

- We signed our first paying customer, Capital Enterprise, with £20,000 worth of subscriptions

Monetisation strategy

We intend to monetise the FounderTribes app through two routes:

- B2B2C: Low-cost and highly targeted, we will partner with corporates, accelerators, etc. to sell bulk subscriptions to our target audience and market our content for £9.99 per user per month.

- B2C: Monthly and annual subscriptions priced at £9.99 and £99.99 respectively.

Between now and April 2022, we intend to focus on the ‘low hanging fruit’, bulk sales to corporates (‘B2B2C’). We anticipate B2B2C will compose the majority of total sales in this period.

Use of proceeds

Funds will be used to support the company up to Series A, which we anticipate in April 2022. The breakdown of funding is as follows:

- HR: 76%
- Video content: 10%
- IT expenses: 3%
- Marketing expenses: 2%
- General operations: 8%

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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 FounderTribes has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 26 February 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 £3,000,000

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).

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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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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