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Nix & Kix

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A healthy but flavourful soft drink. Stocked in Tesco, Waitrose, Co-Op with 10m+ products sold!

100%
 - 
Funded 19 Dec 2023
£300,000 target
£300,254 from 228 investors
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Business overview

Location London, United Kingdom
Social media
Website nixandkix.com/
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 09270784
Incorporation date 20 Oct 2014
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Investment summary

Type Equity
Valuation (pre-money) £5.2M
Equity offered 5.44%
UK tax relief

EIS

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Business highlights

  • Established co with £6M revenue achieved to date*
  • Over 3000 distribution points
  • Stocked in Tesco, Waitrose, Co-Op, Spar & more
  • Sold over 10 million products
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Key features

  • Secondary Market
  • Nominee investment min. £10.01 +
  • Direct investment min. £25,000.00 +

Idea

Introduction

Nix & Kix, a female-founded drinks brand, burst onto the scene in 2017 with a bold mission: to redefine healthy refreshment and disrupt the mundane. Tired of the soft drinks market being dominated by brands containing artificial ingredients and an absurd amount of sugar, Nix & Kix emerged as a healthy but flavourful alternative.

With a unique blend of real fruit and botanicals, but no added sugar or sweeteners, our drinks offer a refreshing departure from the ordinary with added zing.

What is our zing? It's our USP: a daring kick of cayenne expertly infused into every drink. Beyond being a natural flavour enhancer and a metabolic lift, the zing represents our brand's essence too.

Since launching, our products have been commended for their great taste and already sold in the likes of Tesco, Waitrose, Co-Op and Spar.

We've demonstrated strong growth to date, and with this fundraise we aim to support our key UK and international listings further and win in the on-the-go occasion.

Substantial accomplishments to date

Traction to Date:

- We’ve already sold more than 10 million drinks

- Total gross revenue generated since 2018 is £6 million*

- 141% growth in revenue YoY (2022-2023) from Co-Op sales alone*

- Over 3000 distribution points across UK and international markets

- Listed nationwide in: Tesco, Waitrose, Ocado, Dunelm, Wholefoods Market, Co-Op and many more

- Continued DTC sales growth, with our year to date revenue for 2023 at £14.7K already up 219% compared to annual revenue of £3.7K in 2020. And average quarterly growth in 2023 of 73%*

Recognition & Awards:

- Featured in various press articles including The Grocer, Telegraph & Stylist

- Awarded Great Taste Awards and an InnoBev Awards Finalist in 2023

- Over 50k social media following

- Over 95% 5 star reviews on Trustpilot

- Email database which has more than doubled already this year

Business Model:

- Our healthy drinks meet the criteria of the UK and Global Functional Beverage markets, which has a combined size of £148bn and growing at a rate of 6.3% CAGR

- With effective supply chain management, we have decreased our distribution costs by 43%

- In the convenience channel, we are 174% up vs 2022!*

- We are BCorp certified with a high score of 90.6

*Based on unaudited management accounts

Monetisation strategy

We are an omnichannel business with 7 different SKUs. This includes our core range (sparkling fruit & botanicals) and Vitamin Vitality range (sparking fruit drinks with added vitamins). Our top selling product is our can of sparkling Mango & Ginger.

We have multiple routes to market, including:

1. Retail - including grocery and convenience listings
2. Out of Home, for example Dunelm and Meta offices
3. Online including DTC and Amazon and Ocado
4. International, especially in the Netherlands

Gross profit margin for 2023 YTD is 41%.

Excellent retention rate on DTC of over 65%.

Our goal is to cement ourselves as the go to healthy soft drinks brand in the impulse occasion.

Use of proceeds

We aim to use the funds from this round to deliver on the following activities:

- Support and maximise revenue at our key listings
- Grow the team
- Invest in sales & marketing to penetrate the market further and grow brand awareness both in the UK and internationally

Key Information

Key information investment sheet

Key Investment Information Sheet is available by downloading the following documents:

Material Debt

The Company has the following outstanding loans:

1.£146,064.85 loan from FSE with an interest rate of 9.5%. The loan is to be repaid in monthly instalments, with the final repayment due on March 2025.

2.£42,075.92 Bounce Back Loan with an interest rate of 2.5%. The loan is to be repaid in monthly instalments , with the final repayment due on September 2030.

The funds raised as part of this round will not be used to repay these loans.

Loan Facilities

The Company also has the following outstanding loan facilities:

1. Loan facility of up to £250,000 from Glif LPD (of which £250,000 has been drawn down) with interest accruing at a rate of 9.5 % per annum. The loan and any outstanding interest are to be repaid by November 2026 .

2. Loan facility of up to £425,000 from Glif LPD (of which £212,500 has been drawn down) with interest accruing at a rate of 13% per annum. The loan and any outstanding interest are to be repaid by March 2028 .

3. Invoice Finance facility of up to £331,222 from Cynergy Business Finance Limited, current outstanding amount £44,238, with interest accruing at a rate of 1% of serviced debt with a minimum charge of £750 per month . The facility and any outstanding interest are repayable on a 3 month notice period.

4. Loan facility of up to £50,000 from Barclays Bank UK PLC (of which £50,000 has been drawn down) with interest accruing at a rate of 2.5% per annum. The loan and any outstanding interest are to be repaid by September 2026.

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

Investor Majority Owned

The Company is majority investor owned, with the largest stakes being held by Julia Kessler, (CEO & Co-Founder) and Kirsten Robinson (Former Director & Co-Founder). Together they hold 29%.

The current CEO & Founder holds 14% of the fully diluted equity.

Investor Perks

£100+
3x one time discount codes (20% off)

£250+
Everything in £100+
5 x store vouchers so you can get the cans in Tesco at a reduced price

£1k+
Everything in £250+
Unlimited 15% off code valid for 1 year
Branded tote bag made with recycled fabric

£5k+
Everything in £1000+
Free ticket to events which we are activating at
Branded metal straws + case of stock

£10k+
Everything in £5k+
Branded glassware
Unlimited 25% off discount code valid for 6 months from investing

£25k+
Everything in £10k+
Lunch at a stockist location in London with the founder

£50k +
Everything in £10k+
Attend an innovation brainstorm session and share your ideas

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.

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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 campaign for Nix & Kix has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 17 November 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 £5,219,811

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 Republic Europe.

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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 Republic Europe 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, Republic Europe 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 Republic Europe will not benefit from any rights under a shareholder agreement. As a result, Republic Europe 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

If available, 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.

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Business Involvement

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Drawdowns

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