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OceanSaver

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Save our Ocean from single-use plastic with superior plastic-free, plant-based cleaning refills.

141%
 - 
Funded 9 Apr 2023
£560,004 target
£805,566 from 687 investors
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Business overview

Location Leeds, United Kingdom
Social media
Website www.ocean-saver.com/
Sectors Home & Personal Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11356014
Incorporation date 11 May 2018
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Investment summary

Type Equity
Valuation (pre-money) £2.5M
Equity offered 24.38%
Share price £12.2
Tax relief

EIS

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Business highlights

  • Achieved over £3Million revenue since 2019*
  • Grown retail sales +91%, 3X distribution since last Seedrs raise*
  • Saved 2 million plastic bottles from reaching our Ocean
  • 57,000+ customers and over 2000 5* reviews on our website
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Key features

  • Secondary Market
  • Nominee investment min. £12.20 +
  • Direct investment min. £50,000.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 687
  • Discussion
  • Documents

Idea

Introduction

OceanSaver® exists to eliminate single-use plastic from cleaning, helping you to save our Ocean every time you clean.

Our Ocean is precious and sustains all life on earth. But it’s drowning in plastic. By 2050 it is forecast that our Ocean will have more plastic than fish. 29 billion homecare products are made each year, nearly all of which are used once and become plastic pollution.

Become an OceanSaver® if you believe there is a better way.

OceanSaver® EcoDrop® refills provide a professional standard of clean for less than the cost of a new plastic bottle.

Simply DROP, SHAKE & CLEAN.

To date we've saved over 2 million plastic bottles from our Ocean. These plant-based refills are not only plastic-free but proven to perform as well as or better than leading competitor brands.

OceanSaver® Dishwasher EcoTabs are the UK’s ONLY EcoCert accredited dishwasher tab. Sparkling clean dishes without toxic chemicals or plastic packaging.

With Laundry products launching soon we've only just begun!

Substantial accomplishments to date

💧£3 Million revenue since 2019*

💧 Saved over 2,000,000 plastic bottles from reaching our Ocean

💧 Grown retail sales +91%, 3X distribution since last Seedrs raise

💧 Stocked in 1,000 retail stores including Tesco, Ocado, Morrison’s, and ASDA

💧 57,000+ customers and over 2000 5* reviews on our website

💧 Reduced the carbon footprint of the spray cleaning category's transportation by over 85% by making the most compact products possible. We calculate 1 TRUCK of OceanSaver® EcoDrops = nearly 12 TRUCKS of traditional trigger sprays.

💧 Created our 1st plant-based disinfectant cleaning refill that is proven to kill COVID-19

💧 Created the UK's Eco-Cert accredited Dishwasher tab, Get sparkling clean dishes without toxic chemicals or plastic packaging.

*Based on unaudited management accounts.

Monetisation strategy

RETAIL

OceanSaver® has an incredible distribution footprint for a challenger eco-friendly household brand, with 1000+ stores including Tesco, Morrison's, Ocado, ASDA, and Amazon. The vast majority of cleaning products are bought in supermarkets, so this is an incredible platform for OceanSaver® to grow awareness, trial, and repeat revenue:

- We aim to launch with more retailers and in more stores, with a target of 4000 distribution points within 3 years.

- Expand the range of products we sell in each retailer.

- Expand the number of categories we play in (from Surface Care to Dish Care, Laundry and more) to increase our share of basket.

D2C

We believe OceanSaver® has plenty of headroom to grow in DTC, building a stronger subscription offering and higher-value bundles across the full household cleaning regimen.

B2B

B2B is a huge market (up $6 billion in the UK). Many B2B customers are looking for an eco-friendly professional grade cleaner and we know that our product has potential to win in that category.

Use of proceeds

OceanSaver® has strong growth potential across Retail, D2C and B2B based on our platform of superior products across 3 huge categories, best-in-class distribution, and an experienced team in place.

We see significant opportunity to scale revenue by investing in the following activities:

1. Grow the commercial and brand team with the aim of doubling the size of our grocery business. We have delivered great results with a small team. We will look to selectively hire exceptional talent to directly drive revenue via unlocking more retail listings (especially across Retail and B2B), build outstanding trade plans and marketing activity to set OceanSaver apart from all other household brands, and scaling our DTC revenue.

2. Improve our website to make the shopping experience as smooth as possible.

3. Create a range of professional, eco-friendly products for the £6 million B2B market.

4. Expand into new categories of cleaning products you can use every day.

Key Information

Round Valuation

The founder and founding investors have decided that they will incentivise investors in this round with an effective share price of £12.20 (implying a pre-money valuation of £2.5 million).

The pre-committed investment has been received on a pre-money valuation of £4.5 million (price per share of £22.33), however investors have also been an option to purchase a portion of the founder shares at nominal value on an exit event. These additional options bring the effective price per share for these investors (including the founder shares) to £12.20 per share. The founders intend to transfer a portion of their shares (that would otherwise have been transferred to Seedrs investors under the option structure for direct investors) into a new option pool for employees.

To achieve the same result for the Seedrs community, the shares being offered as part of the Seedrs campaign are at the reduced share price of £12.20 per share, i.e. a £2.5m valuation.

This allows us to preservation of EIS relief for Seedrs investors as well as ensuring there will be a secondary market for shares.

Outstanding Debt

The business has an outstanding Bounce Back Loan from Natwest with £31,108.36 remaining, with an interest rate of 2.5% per annum. The loan is to be repaid on 29/12/2026.

The funds raised from this round will not be used to repay this loan.

Outstanding Charge

The business has an outstanding charge on Companies House from HSBC that relates to a debt financing line of up to £250,000 that they have access to. This is not currently being used by the business.

Investment Disclosure

£480,027.22 of the investment being reflected as part of the amount raised was received by the company in October 2022. The investment is on the same terms as the Seedrs investment.

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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.

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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 OceanSaver has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 8 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 £2,458,471

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.

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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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