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Lime Global

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Turning healthcare on its head. Bite-size, super-simple, affordable top-ups to public healthcare.

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Funded 12 Aug 2021
£400,000 target
£474,838 from 0 investors
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Business overview

Location London, United Kingdom
Social media
Website www.limeinsurance.com
Sectors Healthcare Digital Mixed B2B/B2C
Company number 09666467
Incorporation date 15 Jul 2015
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Investment summary

Type Equity
Valuation (pre-money) £24.1M
Equity offered 1.63%
Tax relief N/A
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Business highlights

  • Affordable digital health tech top ups to public healthcare.
  • Operational 24/7, online & automated for maximum efficiency.
  • Extensive distribution network reaching underserved millions.
  • UK private healthcare market >£8bn & forecast to grow.
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Key features

  • Secondary Market
  • Nominee investment min. £10.40 +

Idea

Introduction

We provide super-simple, affordable top-ups to public healthcare. Like a quick diagnosis, or a lump sum following a cancer diagnosis. We source, design and deliver products and services to directly meet consumer needs.

Our customers pick and choose the products/services that suit them, adding and removing without penalty! No expensive package of benefits. No middlemen. No long questionnaires. No medical exams. Not even an excess. We offer a top-up where it’s most needed, for just a few pounds a month.

Lime is at the forefront of a brand-new digital healthcare ecosystem, at a time when the global digital health market is forecast to experience growth of 37%.

We bring the benefits of private healthcare to the many, in a way that’s affordable and easy.

Substantial accomplishments to date

- Outstanding efficiency across entire value chain, enabled by proprietary technology stack.
- Products designed to meet unmet customer needs, expertly brought to market by team with decades of relevant industry experience:
- Cancer cover providing a lump sum and support following diagnosis
- Rapid Diagnostics providing access to private diagnostic tests
- E-pharmacy partnership to bring an online platform where customers & employers can book & pay for clinical services (e.g. vaccinations) delivered via more than 8,000 local pharmacies.
- Multi-channel, multi-partner, large-scale distribution network actively marketing to millions of underserved customers. Includes distribution deal with world’s largest affiliate marketing platform.
- Tier 1 suppliers to Aviva. Lloyds of London / Starr International (Europe) Ltd approved coverholders.
- Spotless risk & governance.
- Unbroken run of 5* Trustpilot reviews over the last year and zero complaints to date.

Monetisation strategy

We have stripped out wastage and inefficiency to fully optimise the entire value chain for all of our products. This increases our profitability across the board and allows us to offer in-demand products and services at incredibly affordable prices.

We are channel agnostic and incredibly flexible. Our business model enables us to operate B2C, B2B2C, B2B and Healthcare as a service.

Our objective is to create a multi-revenue ecosystem of digital health products and services, directly serving untapped demand. Each product or service will have a clear revenue stream in it’s own right, we will also leverage the ecosystem as a whole to increase monetisation opportunities i.e. through cross-sell.

We are building clear revenue streams across both individual and SME products and services:
- Monthly premiums (currently active).
- Pay as you go access to one-off health services such as vaccines, consultations, treatment packages and more (future plans).

Use of proceeds

Lime is raising a smaller bridge equity round due to accelerating b2c cash flows and advanced stage partner agreements now reducing expected medium term cash requirements.

This bridge round will cover immediate development expenses of supporting the expansion into SMEs, Mental Health modules and the e-Pharmacy as well as bolstering the management team.

The investment is expected to scale the distribution power of Lime and more rapid customer acquisition. Depending on growth and revised cash flow predictions later in 2021, Lime expects to launch a much larger capital financing to support the next stage of growth in late 2021/ early 2022....

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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 Lime Global has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 8 June 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 £24,137,032

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

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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 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).

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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.

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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

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.

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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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