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Gazeal

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Transforming the way property is bought/sold with upfront information and binding Reservation Agreements

217%
 - 
Funded 7 Feb 2022
£360,006 target
£782,288 from 363 investors
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Business overview

Location London, United Kingdom
Social media
Website www.gazeal.co.uk/
Sectors Property Digital Mixed B2B/B2C
Company number 06772691
Incorporation date 15 Dec 2008
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Investment summary

Type Equity
Valuation (pre-money) £10.7M
Equity offered 6.82%
Tax relief

EIS

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Business highlights

  • £140 million in residential property transactions secured to date
  • 70% reduction in transaction failure rate
  • PWC has selected Gazeal to be part of digital banking platform
  • Law Society of England and Wales have granted licence to Gazeal
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Key features

  • Secondary Market
  • Nominee investment min. £14.66 +
  • Direct investment min. £10,000.00 +

Idea

Introduction

Gazeal is on a mission to revolutionise the home buying and selling process by introducing speed, transparency, and security.

We believe the system for transferring property in England and Wales is broken.

The Gazeal platform helps the seller prepare key information about their property right from the start. The estate agent shares this with buyers, helping them make an informed decision and providing transparency much earlier in the process.

A well-informed buyer is much more likely to make an informed, realistic offer on a property, and much less likely to pull out of the sale at a later stage.

After an offer has been agreed upon, both parties can show commitment to each other by signing our digital Reservation Agreement and deciding on the level of Guarantee they would like without having to worry about old fashioned holding deposits.

Gazeal guarantees the buyer and seller's commitment to each other and will pay out to the injured party, if the agreement is breached without good reason.

Substantial accomplishments to date

We have received an overwhelmingly positive response from the general public and the estate agent industry, which we believe indicates the public's desire for positive change.

- We have helped over 1,700 sellers and secured over £140m of property sales.

- Best of all, we have seen a 70% decrease in property sales collapsing when using our Reservation Agreements

- We have received consistent 5 star google reviews.

- Gazeal helps all parties involved in the transaction and we are working with innovative estate agents that want to improve the market. We currently have in excess of 275 estate agent branches signed up to the Gazeal platform.

- We have received positive coverage in both industry and national press including Forbes and The Times.

- We have been nominated for multiple awards and previously won Prop Tech Company of the Year.

- Gazeal was nominated "Most Collaborative Company in PropTech" at the prestigious Negotiator Awards. We have continued this tradition and earlier this year:

- PWC selected Gazeal, to be part of Tysl, its next generation digital banking platform; and

- Gazeal is a licensee of the Law Society of England and Wales.

- Gazeal has raised in excess of £3m to date from investment firms, a pre IPO fund and high net worth individuals.

Monetisation strategy

Gazeal operates a B2B2C model with Estate Agents forming our route to market. We licence the Gazeal digital platform directly to Estate Agents without cost.

Estate Agents then utilise the Gazeal platform to help Sellers prepare upfront information and make this available to potential buyers increasing transparency.

After an offer has been agreed upon, the estate agent can have the buyer and seller confirm commitment to each other by signing our digital Reservation Agreement and deciding on the level of Guarantee they would like to put in place.

Gazeal guarantees the buyer and seller's commitment to each other and pays out to the injured party, if the agreement is breached without good reason.

We charge the buyer and seller directly depending on the level of Guarantee requested.

The majoirty of our transactions see the buyer and seller split the price of the Guarantee. The Gazeal platform can facilitate either the buyer or seller paying the entire fee where this is preferred.

Use of proceeds

Our aim is to future proof the market by leading from the front.

If a deal collapses it can take signifcant time and money to get back into the market again.

Nobody wants the pain, heartache and financial loss of broken property sales anymore. Now the power is in your hands.

We need to rapidly grow our team so we can keep up with demand and expand our marketing reach, telling more people about Gazeal so that we can help them move securely.

Key Information

Convertible Loan Note:

The company has an outstanding Future Fund Convertible Loan Note of £600,000 entered into in October 2020 which will convert into equity as part of this funding round.

The principal amount of this agreement has been factored into the pre-money figure of the campaign. The amount accrued under interest has not been factored in, as this will depend on when the conversion occurs.

The terms of this Convertible Loan Note are as follows:

1. £600k loan from individuals and the Future Fund with the following key terms:

- Discount: 30%
- Interest: 8%
- No valuation cap
- Longstop: 29th October 2023
- Share Class: Ordinary
- Conversion will be triggered as part of this round through one of the two scenarios below:

1. Qualified Financing: Means the Company raising £600k through a bona fide equity financing round. The loan will automatically convert to equity if this campaign raises over £600k.

2. Non-Qualified Financing: At the election of the Lender Majority after any bona fide equity financing round, other than a Qualified Financing round of £600k.

Share price

Please note that the share price for the round is £0.738. The investment multiple used for this campaign is £7.38 for 10 shares in the company.

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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.

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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 £10,677,210

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.

Find out more

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.

Find out more

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.

Warning

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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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