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Nattr

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Nattr is an app providing real-time clever responses to texts.

109%
 - 
Funded 12 Oct 2016
£100,000 target
£110,419 from 117 investors
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Business overview

Location London, United Kingdom
Social media
Website www.nattr.com
Sectors Entertainment Digital B2C
Company number 09168315
Incorporation date 8 Aug 2014
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Investment summary

Type Equity
Valuation (pre-money) £3M
Equity offered 3.53%
Tax relief

EIS

Idea

Introduction

Nattr was founded with a simple goal in mind: to eliminate anxieties related to texting and decision making.

We’ve all been there. Where you receive a text and you have no idea what to say back, so you ask a friend. But what’s better than a second opinion? A dozen.

It’s an innovative mobile app that gives real-time replies by crowdsourcing responses.

Intended impact

Messaging is dominating communication. 23 billion text messages are sent every day, 266,000 every second and the industry is said to be worth over £200bn by 2016.

Numerous messaging services exist, however none we're aware of with a USP of having every message customised to you.

We believe we will be able to roll out the same platform in the fashion, food and fitness industry having Nattr being seen as a lifestyle connoisseur. Think of it as a live forum. Where in the past you would have to wait hours or days for a response - now we're down to minutes and by incorporating machine learning and natural language processing, we hope to be down to seconds in the future.

Substantial accomplishments to date

So far ...

• over 70,000 people are currently using Nattr.
• over 17,000 new users joined us this past month.
• over 260,000 monthly sessions.
• average cost per install - 0.45p, lower than every app compared.
• sales are growing by an average of 160% month-­on-­month since launch in December 2015.

Teen Vogue wrote, 'This New App Will Write the Perfect Responses to All of Your Texts - You’ll never be at a loss for words again.' We've also been featured in The Guardian, Grazia, AskMen, Nylon and more.

Monetisation strategy

Part of Nattr’s secret sauce is our team of experts. Nattr is full of comedians, copywriters,screenwriters and dating coaches ready to respond to your messages.

The user has the option to pay a small fee (£0.99 - £2.99) to get a response that’s guaranteed in minutes from one our best writers.

This form of monetization has proven to be successful. Since it’s implementation in December 2015, our sales are growing by an average of 160% month-­on-­month.

In addition we are in the process of testing out a subscription model.

Use of proceeds

How we'll use the funds

1. Growth - We aim to acquire 1M users in the next year and 5M by year two. We hope to achieve this by growing our team and expanding out to Android.

2. Innovate the Product –We've proven ourselves in the texting/dating vertical, we're looking forward to testing others starting with fashion.

Market

Target market

Our current target audience is Millennials, the largest generation alive and they account for 1.8 billion out of 7 billion people worldwide.

Characteristics of target market

Millennials send on average 67 texts a day. Of which 75% are single and spend 18 hrs a day consuming media – mostly which is created by peers.

They are a mobile driven generation who constantly seek advice. Instead of creating a new behavior, we found a habit that already exists and we're building our product around that.

Marketing strategy

Nattr plans on gaining initial traction from the dating market. According to Match over 40 million Americans have their love lives wired. Pew Research states: Online & Mobile dating has tripled since 2013, boasting over 15M Millennials signed up in the USA alone.

According to The Huffington Post the dating industry is estimated to be worth more than £2bn. Over 1.3 billion people will use their phone for dating purposes.

Competition strategy

Nattr isn’t competing with any app or platform for market share, as it overlays the entire industry.

Anytime a user is struggling for the words to say on any social platform (dating or not) Nattr can be used.

Numerous messaging services exist, however none with a USP of having every message customized to you.

Nattr is able to offer an unbiased response 24/7 in 5 minutes or less.

Our findings and opinions on others:

Crowdpilot
allows you to crowdsource social interactions by allowing friends or strangers to listen in and assist you in any situation. The app gives situational advice while relying on others to listen in on a call. Crowdpilot relies on timing and availability, which in theory could be a big constraint.

BroApp
Designed for men to outsource relationships and spend more time with the bros by sending automated texts to girlfriends. The app doesn’t ask for responses to text messages, instead it prevents you from forgetting to text your girlfriend and prides itself on keeping men out of the doghouse.

HeTexted
Where females go to vent about their relationship issues. The information given is very situational and acts solely as a utility with no aspect of entertainment.

Textpert
An app based on responding to text messages. Very similar concept however executed entirely different. Textpert does not have a public feed of any kind. You simply receive a notification that someone needs a response.

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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

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 Nattr has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 8 July 2016 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 £3,000,000

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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