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Motohawk

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Motohawk is on a mission to make it easy for motorcyclists to find great kit for their ride.

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Funded
£200,005 target
£206,941 from 0 investors
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Business overview

Location Evesham, United Kingdom
Social media
Website motohawk.co.uk/
Sectors Automotive & Transport Mixed Digital/Non-Digital B2C
Company number 12998402
Incorporation date 5 Nov 2020
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Investment summary

Type Equity
Valuation (pre-money) £3.5M
Equity offered 5.41%
Tax relief

EIS

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Business highlights

  • +£1m revenue in less than 2yrs*
  • +15k community of riders
  • ex-Amazon and Canon Europe Founder
  • Plans to expand into Europe within 2yrs
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Key features

  • Secondary Market
  • Nominee investment min. £30.29 +

Idea

Introduction

We’re Motohawk. We’re making it easy for Motorcyclists to find great gear for their ride on our mission to disrupt the £4bn motorcycle helmets, clothing and parts market.

As bikers ourselves, we experienced first-hand how underwhelming it was to buy motorcycle kit, with an out-of-date retail model completely at odds with the joy of riding a motorcycle.

So, the eCommerce expertise we honed at Amazon and Canon joined forces with our love of motorbikes and boom - Motohawk was born. And in less than 2 years, we’ve achieved more than £1m of sales and built a community of more than 15,000 bikers.

The £600m UK market for motorcycle clothing, accessories and parts is highly fragmented with the majority of sales coming from offline, independent dealers. We see this as a huge opportunity to scale and also have ambitions to launch Motohawk in the £4bn European market within 2 years.

We'd love for you to invest in Motohawk and come join the ride.

Substantial accomplishments to date

Since launching Motohawk in 2020, we’ve delivered:

-More than £1m revenue in less than 2 years’ of launching*

-A community of more than 15,000 bikers

-A world-class website with more than 20,000 products spanning 50+ brands

-Successfully raised more than £100k from investors in 2021 to build the team, increase inventory depth and scale revenues

*based on unaudited management accounts

Monetisation strategy

Our impressive growth comes from the Motohawk website where our product ranges span motorcycle helmets, clothing, parts and accessories. We also sell via marketplace channels and have a retail store alongside our warehouse/office space in Worcestershire.

The key to our growth is the playbook we’ve built on how to scale eCommerce. This includes a smart acquisition model to attract new customers, a unified view of customer data from browsing through purchase and after-sales support plus a deep understanding of the market.

We’re ready to use this playbook to drive future growth in the UK and have plans to launch Motohawk in the £4bn European market within the next 2 years.

Use of proceeds

Your investment will help us accelerate our growth by making key hires, further developing our technology and expanding our inventory.

Grow the Motohawk team:

Our progress to date has been delivered with our small but mighty team of three! We've already started hiring new roles across eCommerce, marketing, and product. We're creating an option pool as part of this round to help us attract A-game talent and a bigger team will help us establish a leadership group.

Fit-for-growth technology:

We plan to deploy a raft of new features to our web platform including currency and language conversion ready for launching Motohawk into the £4bn European market.

10x our product catalogue

We'll also invest in inventory, increasing our product catalogue tenfold to unlock new search terms with which to acquire new customers.

Key Information

Company Structure

Motohawk LTD was fully acquired by Motohawk Retail LTD in April 2021 as part of the last fundraising round. Included in the acquisition was all trade, assets and liabilities within Motohawk LTD. There is no group structure within the organisation and EIS approval was granted on the basis of this structure.

Material Debt

The company has the following outstanding loans:

£16026.80 Bounce Back loan at an interest rate of 2.5% per annum. The loan is to be repaid by May 2026

£96237 revenue-based financing loan at an interest rate of 5% per annum. The loan is to be repaid by Jan 2023.

£16702.43 credit facility loan at an interest rate of 6% per annum. The loan is to be repaid by March 2023

The funds raised from this investment round will not be used to repay these loans.

Investor Perks

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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 Motohawk has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 25 October 2022 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 £3,499,467

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.

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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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