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Nebeus

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Nebeus is a banking alternative for Web3 as it integrates traditional banking and cryptocurrencies.

125%
 - 
Funded 14 Jun 2023
€1,100,009 target
€1,389,752 from 225 investors
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Business overview

Location London, United Kingdom
Social media
Website nebeus.com/
Sectors Finance & Payments Digital B2C
Company number 09492138
Incorporation date 16 Mar 2015
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Investment summary

Type Equity
Valuation (pre-money) €40M
Equity offered 3.33%
Tax relief N/A
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Business highlights

  • Over 130K users & the number of transactions grew by 10x.
  • Registered with the Bank of Spain as Crypto Custodian & VASP.
  • Outsourced Service Provider of Modulr, EMI authorised by DNB.
  • Upcoming products: Trading, DeFi, and Credit line.
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Key features

  • Secondary Market
  • Nominee investment min. €23.92 +
  • Direct investment min. €25,000.00 +

Idea

Introduction

Our Products

Nebeus is a banking alternative for Web3, seamlessly integrating traditional banking and cryptocurrencies, all in one app.

Nebeus Money Account

Personal Euro IBANs, and GBP Sort Code accounts with a VISA card so users can use Nebeus just like a bank, while having a direct connection with Web3.

Nebeus Crypto Account

A full crypto ecosystem composed of a wallet, exchange, renting, staking, crypto-backed loans and insured cold storage.

Future Products

Nebeus Trading

We are currently developing a full brokerage service that will allow Nebeus users to invest in and trade finance assets.

Nebeus DeFi

Nebeus plans to develop a DeFi side for users to retain control over their assets and transactions without a central authority, allowing them to switch between custodial and non-custodial wallets.

Nebeus Card Credit Line

Nebeus is currently creating a credit line backed by digital assets, accessible on the Nebeus VISA Card, enabling users to access credit and spend money instantly without securing a loan. This is expected to be introduced in Q3 of 2023.

Substantial accomplishments to date

Since our oversubscribed Seedrs round in 2020, we:

Compliance

• Were registered as a Cryptocurrency Custodian and Virtual Asset Service Provider with the Bank of Spain.

• Were approved as an Outsourced Service Provider of Modulr Finance B.V., authorised by De Nederlandsche Bank as an Electronic Money Institution.

• We recently submitted our application to the UK Financial Conduct Authority (FCA) for a Consumer Credit Licence, which will allow us to develop new credit products.

Product and Usage

• Launched our Money Accounts, providing personal Euro IBANs and GBP Sort Code accounts to European users.

• Released our first Nebeus Card approved by VISA.

• Launched 6 new products and added 23 new cryptocurrencies.

• Doubled our customer base, reaching more than 130,340 users.

• Have grown our monthly transactions by 10x from Jan-21 to Feb-23.

Monetisation strategy

1) Subscriptions: We generate recurring revenue through a subscription model where customers pay a monthly fee for accessing top tiers of our Money Accounts.

2) Cards: Every user with a Hodler or Whale Money Account is entitled to one free Nebeus Card, but for any additional cards requested, there is a monthly subscription cost for each extra card.

3) Loans and Credit line: comprised by loan interest, loan origination fees, early repayment interest, and additional interest for adding the features of Excess Collateral Release and Automatic Margin Call Management. We expect to create revenue from loans and credit lines as of Q3 of 2023.

4) Transactions: We built and integrated a large number of transfer options, and we charge per transaction.

Banking:

-SEPA deposits & withdrawals
-Transfers to Nebeus Crypto Account

Crypto:

-Bank card deposits & withdrawals
-Cryptocurrency deposits & withdrawals
-Apple Pay & Google Pay
-Transfers to Nebeus Money Account

5) Exchange: Users have the ability to buy, sell, and exchange cryptocurrency, with each transaction incurring a commission fee.

Use of proceeds

Key Information

Debt

The company, Money-4 limited, has the following outstanding loans:

€140,000 loan at an interest rate of 10% per annum. The loan is to be repaid on 25.04.2023.

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

Conversion of Convertible Loan Note

This raise will trigger the conversion of the Future Fund Convertible Loan Agreement which was entered into on 4th Jan 2021, meaning shares will be issued to the loan holders at a 20% discount to the share price set by this round. Key details of the CLN terms are set out below:

Principle loan amount: £820,000
Discount: 20%
Interest: 8% per annum.

Please note that the shares to be issued on conversion of the principal loan amount of £820,000 have been factored into the pre-money valuation for this campaign. Shares relating to the 8% accrued interest, however, have not been reflected in the valuation as these can only be calculated once a completion date has been set between parties. Any shares issued in respect of accrued interest will not benefit from the 20% conversion discount under the CLN.

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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

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 Nebeus has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 31 March 2023 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 €40,004,693

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.

Learn more about pitch type on Seedrs

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.

Find out more

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.

Warning

You are following a link outside of europe.republic.com.

None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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