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Marvin's Den

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Marketplace platform and mobile apps for ordering meal prep & healthy ready meals.

122%
 - 
Funded 26 Jan 2023
£105,001 target
£128,707 from 129 investors
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Business overview

Location London, United Kingdom
Social media
Website www.marvinsden.com/
Sectors Food & Beverage Digital Mixed B2B/B2C
Company number 13477528
Incorporation date 25 Jun 2021
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Investment summary

Type Equity
Valuation (pre-money) £2M
Equity offered 6.05%
Tax relief

SEIS

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Business highlights

  • Launched our marketplace apps on iOS, Android and Web
  • Over 200 meals and over 15 meal prep vendors on platform
  • Over 2k meals delivered and 3k app installs
  • Top 5 organic Google search results for meal prep keywords
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Key features

  • Secondary Market
  • Nominee investment min. £11.64 +
  • Direct investment min. £20,000.00 +

Idea

Introduction

Marvin’s Den is a mobile app and marketplace platform to order ready meals & meal prep from a curated selection of providers.

Marvin’s Den allows you to explore, find and order healthy and high quality meals matching your preferences, dietary requirements and fitness goals.

Our mission is to make ordering healthy meals as easy and convenient as ordering fast food.We believe that by making healthy meals as accessible as takeaway meals, we can encourage more people to make healthier meal choices.

Meal prep delivery is increasingly becoming a popular choice for busy, health-focused individuals as it offers a perfect balance of health, convenience and cost compared with alternative meal solutions such as takeaways or grocery meal boxes.

The emergence of various independent providers in the space has given lots of choice to consumers, but it has also led to increased difficulty in finding the right meals for one's unique needs.

Our marketplace platform offers the much needed solution.

Substantial accomplishments to date

We have developed our own tech enviornment:

Numbers to date since launching in January 2022:

We have been featured on:

Our online visibility is improving at a fast pace

We host the following meal providers and more:

Monetisation strategy

Marvin’s Den business model is based on commission - i.e we receive a percentage of the value of each order placed on our platform.

Marvin’s Den generates cashflow by receiving orders from users placing an order from either the Marvin’s Den mobile app or the web shop.

Marvin’s Den processes the payments directly and bi-weekly transfers the value of the order to the merchants, after deducting the commission fee.

Marvin’s Den does not undertake delivery or shipment and thus Marvin’s Den does not incur this significant cost, contrary to takeaway delivery apps.

We do have other revenue opportunities to explore such as generating revenue from affiliate sales via our popular blogs and newsletters, charging merchants for positions of increased visibility within the marketplace, as well as the opportunity of supplying Marvin’s Den branded packaging to the merchants.

Use of proceeds

Since our launch in January, Marvin's Den has been bootstrapping. Co-founders Abhi and Nick put their lifes’ savings in the business to build the tech and get some audience for testing.

After testing, measuring customer actions, feedback and having seen what works and what doesn’t, we are ready to take investment to scale up. This is crucial so that we can reach more people and grow our company while fulfilling our vision to help people order healthy meals as easy as ordering fast food.

The funds from our equity crowdfunding will mainly be to grow our team as well as develop new features within our technology!

We plan to hire a full-time software engineer to work alongside Abhi in the tech team to develop new features which should help increase conversion rates, customer lifetime value and overall customer experience!

Investors Perks

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. 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

Founders Interests

The founder, CEO and CTO, Abhimanyu Singh, is currently part-time. The company believes this is the best way to allocate its funds at the moment. If the campaign generates enough resources to pay Abhimanyu a salary, he will become full-time after the round. The founder and COO, Nicola Raimondo, has been full-time since March 2022.

Tax relief

The company has the full £150k SEIS allocation available in this round. £65k of investment reflected as part of the round is from an investor who is ineligible for SEIS. Investments in the campaign up to £215k are expected to be eligible for SEIS tax relief. Any funds invested over £215k are expected to qualify for EIS tax relief. Tax treatment depends on individual circumstances and is subject to change in the future.

Investment Disclosure

£65k of the investment reflected as part of the amount raised was received by the company on 06/07/2022. The investment is on the same terms as the Seedrs investment.

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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 £2,000,140

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.

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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).

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, 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.

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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.

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.

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