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HireHand

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A VC-backed platform connecting businesses and people when they need each other most.

101%
 - 
Funded 7 Nov 2019
£1,000,005 target
£1,011,505 from 278 investors
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Business overview

Location London, United Kingdom
Social media
Website www.hirehand.co.uk/
Sectors Recruitment & Procurement Digital B2B
Company number 09346046
Incorporation date 8 Nov 2014
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Investment summary

Type Equity
Valuation (pre-money) £10.6M
Equity offered 8.71%
Tax relief

EIS

Co investor Mustard Seed

Mustard Seed invests in world-class early-stage businesses that seek to generate financial and societal returns.

Idea

Introduction

Shift work is sh!t work in London today.

People are being driven to the edge: unpredictable shift patterns, reduced hours, and low pay. Business owners can struggle with cost pressures, technological disruption, and business-killing rates of staff turnover.

It doesn’t have to be this way.

We’re HireHand – a labour platform that puts people first.

We get people the extra hours they need, when it suits them. We do this by matching them with business owners who need more help at busy times.

We’ve helped over 2000 people earn £3M by providing high-value support to 750 businesses owners in the London food retail sector.

We do this with our 20 factor algorithm, built by ex-SwiftKey engineers and the labour optimisation expertise of former McKinsey consultants.

We are bringing our proven solution to new markets. Next stop construction in London and Food Retail in New York.

Join Us!

Intended impact

We aim to set the standard for shift work in these disruptive times.

We provide people with flexibility and stability instead of insecurity and under-employment.

We give business owners the sustainable staffing model that otherwise eludes them.

Practically, we connect single parents - who can work in between drop off and pick up, with restaurants in London - who need an extra pair of hands during the lunch rush.

This is the future of work.

We believe that increased automation and cost pressures will not eliminate the need for human labor. It will, however, change shift patterns - leading to shorter shifts at different times over the day.

This is true today in blue collar industries (e.g. food retail and construction) and tomorrow in white collar industries (e.g. health care and professional services).

Based on our own research, we have estimated the future of these industries in the image below.

Our labour platform is built for this future - we see the scale of the opportunity as staggering.

Let’s capture it together and preserve work for future generations.

Substantial accomplishments to date

Monetisation strategy

Our simple revenue model involves charging businesses a service fee of 20% on top of the hourly rate paid to Hired Hands.

This fee equates to approximately £2/hr (£10 per shift) in the food retail sector and will increase as we aim to move into higher value industries in the next few years.

The full automation of our platform has enabled us to begin pursuing licensing opportunities in adjacent industries and geographies.

This has the potential to be high-margin revenue and allow us to “test” new sectors in a footprint-light way before building a pool of labor.

Use of proceeds

We have the right vision to preserve work for future generations. We have a proven solution. Now is the time to widen our footprint.

The money will go for additional technical talent and then to launch in London construction (scaffolding) and New York (food retail).

Join us!

Please note, the company has an outstanding loan of £47,500 with an interest rate of 5% pa. None of the funds raised will be used to repay this loan.

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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 campaign for HireHand has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 16 September 2019 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 £10,596,427

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.

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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