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Green

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Making energy simple through technology

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Funded 15 Sep 2020
£120,009 target
£286,262 from 0 investors
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Business overview

Location Newcastle upon Tyne, United Kingdom
Social media
Website green.energy
Sectors Energy Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11042716
Incorporation date 1 Nov 2017
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Investment summary

Type Equity
Valuation (pre-money) £8.8M
Equity offered 1.35%
UK tax relief

EIS

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Business highlights

  • 40,000 members in first 12 months
  • 24/7 Customer support with 5 Star Trustpilot Rating
  • Bespoke Platform - Built In House
  • 100% Green Electricity & Carbon Neutral Gas Tariffs
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Key features

  • Secondary Market
  • Nominee investment min. £17.54 +

Idea

Introduction

We are a North East based, tech-focused energy supplier, set up with three main goals; to utilise our bespoke technology to make managing energy simpler, offer outstanding customer support through many channels with extended phone line hours and 24/7 live chat and finally offering 100% green electricity.

We aim to take the best bits from the challenger banks - a seamless tech experience, excellent customer support and fair, transparent pricing - and bring it to energy supply.

Substantial accomplishments to date

Within the first 12 months of launching Green, we have grown to over 40,000 members with strong month-on-month growth. In May alone we made £2.7m in revenue*.

Our Members & Growth:

• 4.8/5 on Trustpilot with over 3,200 reviews

• 7 am - 11 pm phone support, 24 hour chat support, 7 days a week

• All UK based customer support

• Only a 5.7% member loss rate over all time

• Peak of over 2,000 members in one week

• 1 in 10 quotes on our website switch to us immediately

• Even coverage across the UK

• Only 6 in 10,000 customers raise a complaint (Apr 2020)

Our Employees & Office:

We ensure our employees are happy and excited to work within a company that is pioneering technology in the energy space. We have grown to 40 employees since launch in June 2019 across all our support, back-office and digital roles.

Our Platform:

• Bespoke and built in house from the ground up

• V3 launched June 2020 with a new design guideline and full landlord dashboards

• 86.5% platform utilisation on a regular basis

• Transparent and documented APIs for members, service accounts and landlords

• Anonymous tracking for conversion optimisation and better user experience

• Bank-level security with magic links and OTP (one-time passcode)

• Bespoke Data Studio automating day to day tasks and insightful real-time dashboards for operational use which uses both trend and predictive analysis

*Based on unaudited accounts.

Monetisation strategy

Marketing & Direct:

We invest heavily on our tailored marketing campaigns to drive high converters to our site may that be via ads on Google/Bing/Social Media or our own organic strategy.

We see on average 10% of all traffic will switch on a daily basis via our website with our extensive CRO research and our CPA reduction analysis.

Comparison Sites:

We have built great relationships with comparison sites, auto-switching services and managing agents. Offering bespoke tariffs for each platform through to enabling API direct sales and bespoke systems built for them to utilise. This leads to a great package for both parties and we see a lot of sales driven through these channels.

Use of proceeds

Business & Smart Prepayment Offering

Bringing our offering to the business and prepayment side utilising our smart technology and apps.

This would include the operational infrastructure, technology implementations and support channels.

Tailored Marketing & Development

Utilising our Data Studio to really focus on targeting the best audiences that will have a high conversion to switch and stay with us. We also intend to start using new marketing channels and build even more relationships with high sale rate partners.

We will also be investing in our current technology with heavy research and development to really set us apart from anything in the energy space including plans with Google Assistant/Amazon Alexa, adaptive app UI and a simple smart meter booking system via our app.

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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 Green has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 30 June 2020 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 £8,770,000

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.

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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 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.

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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.

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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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