Lick is the community-driven decorating movement on a mission to build Europe’s largest decorating brand.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.lick.com |
| Sectors | Home & Personal Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 12062607 |
| Incorporation date | 21 Jun 2019 |
Investment summary
Business highlights
- Paint tin sales grew 130% in 2024
- Stocked in over 1,800 stores nationwide
- Available in leading retailers including B&Q & Screwfix
- New channels grew 470% in 2024
Pitch
About the Campaign
We empower people to transform houses into homes. Bringing a fresh perspective to a slow-moving $161bn industry, we’ve built a community-focused, omni-channel brand that empowers modern customers to decorate with confidence. With 470% growth in new channels sales, we’re doubling down to capture market share.
Market Opportunity
We believe that the home decor market is largely lacking consumer-led brands. Lick aims to do things differently and meet the needs of the modern decorator.
Lick’s core values:
- A community-driven brand with over 1 MILLION decorators
- Digital-first, omni-channel brand
- Sustainably led brand and product range
- High quality products and technologically-advanced formulas
- we obsess over supporting decorators choose colour and offer multi-channel, expert support
Traction & Key Accomplishments
In 2020, we launched as a DTC online business and sold over 27,000 tins in our first year. We’ve now successfully evolved into an omni-channel model, selling our brands through leading retailers including B&Q, Screwfix, and Travis Perkins. These new channels grew 470% in 2024, scaling quickly. With year-on-year margin improvement, we sold just under 10x more tins of paint in 2024 vs. 2020.
We’ve also become B Corp certified, launched industry-first brand campaigns and partnerships, built a supportive community and developed 3 brands; Lick, LickPro and LickTools, which each cater to different audiences and their needs.
We're disrupting the category with impactful, industry-first brand campaigns that cut through, from ketchup-coloured paint with Heinz, to our latest nationwide out-of-home campaign.
We're backed by some of Europe's leading investors and we have already raised over £3 million as part of this round.
We have an industry-leading team, and are proud to be able to invite our community to participate in our journey alongside them.
Use of Funds
Building on Lick’s foundations, we aim to take market share in this $161bn industry by doubling down in these areas:
Investor Perks
We have created a rewards program as a thank you to the community that participate in this funding round:
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
Outstanding Debt
The Company has or will shortly have the following outstanding loans.
1. A Hire Purchase loan of £600,000 from Close Brothers, with an interest rate of 7.5%, which was taken out in October 2024. This loan is repaid in monthly instalments until the end of the term in October 2029.
2. The company is planning to draw down a loan of £1,000,000 from Untitled Ventures Limited (UVL). The Loan will be for a term of four years and carry a rate of interest at 10.5% (compounding annually). Repayments on the Loan shall commence 20 months from the date of first draw down.
In addition to providing this loan to Lick Home, Lick Home will also issue to UVL a warrant to subscribe for Preferred Shares (or such other amount as represents 1.35% of the Company’s fully diluted post-money capitalisation) to be exercised at UVL’s discretion at nominal value per share. This may dilute investors in future.
Please note that UVL are also the lead investor in this round.
Investments raised from this round will not be used to repay these loans.
Share Classes
The company currently has 4 share classes: Ordinary Shares, Series A-1 Preferred Shares, Series Seed Preferred Shares and Series A Preferred Shares.
Seedrs investors currently hold Ordinary Shares, which are EIS eligible, and will be receiving Ordinary Shares as part of this round. Some direct investors will receive Series A-1 Preference Shares as part of this round which are not EIS eligible.
-The Preference Shares (being the Series A-1 Preferred Shares, Series Seed Preferred Shares and Series A Preferred Shares) have the following rights:
-Full voting and dividend rights
-1x non-participating preference on a liquidation or exit: Preference Shareholders will first receive their initial investment amount before the remaining proceeds are distributed between Ordinary shareholders pro rata.
-Broad-based weighted average anti-dilution rights: right to be issued additional shares at nominal value in event of a down-round.
Ordinary shares:
-Full voting rights and dividend rights
Please note that pursuant to the Company's articles of association pre-emption rights on the issue of new securities can be dis-applied for all shareholders with Investor Majority consent (being the holders of at least 60% of Preference Shares)
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