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Premier Punt

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Premier Punt is a fantasy football social gaming website and app. Users can play to win real money.

109%
 - 
Funded 8 Feb 2017
£200,007 target
£221,178 from 174 investors
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Business overview

Location Aberdeen, United Kingdom
Social media
Website premierpunt.com
Sectors Games Digital Mixed B2B/B2C
Company number SC464201
Incorporation date 21 Nov 2013
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Investment summary

Type Equity
Valuation (pre-money) £2.8M
Equity offered 7.24%
Tax relief

EIS

Idea

Introduction

Premier Punt provides fantasy football enthusiasts with a platform to come together and play daily fantasy football games against one another for real cash.
In return we take an admin fee of the money staked.

Check out our explainer video: https://www.youtube.com/watch?v=NFt4c4DeUF0

Daily Fantasy Sports (DFS) is at an early stage here in the UK and Premier Punt is one of the first of its kind.

We released our app in August 2016. It is one of the first of its type, offering what we think is a brand new way of playing fantasy football and engaging fans.

We were the no.1 searched app in the UK App Store a number of times, generating over 16,500 downloads!
Our fan engagement strategy is what differentiates us from the competition!
We have an Official Partnership with Premier League club Southampton FC that gives us huge worldwide exposure.

Intended impact

We bridge the gap between people who like fantasy football and people who bet on sports.

There is already a huge appetite for Daily Fantasy Sports (DFS) betting in the US and Canada. However, DFS is in its infancy in the UK and Europe, and that's where we come in.

Our single game format is different from the traditional DFS one in the US and Canada where 11 players are selected from 20 teams, meaning there are huge amounts of players to choose from.

With our format you only choose 6 players from any single game, therefore, there are only 22 players to choose from. This means we can fit it all into a bite-sized app and the user can choose a line up in seconds.

Check out our explainer video:
https://www.youtube.com/watch?v=NFt4c4DeUF0

Substantial accomplishments to date

- We are the official partner of Southampton FC. We have advertising around the pitch, on the big screens and on the backdrop when players are getting interviewed (check us out on Match of the Day).

- We have had 16,500 downloads and over 15,800 sign ups since the start of the season in mid-August 2016.

- We have been the No. 1 searched app in the UK App Store!

- We have a full UK Gambling License suitable for fantasy sports.

- Over 90% of our app reviews are currently 5 out of 5.

- We believe we have a unique product that none of our competitors have.

- Shortlisted for Best Fantasy Sports Product at SBC Awards 2016.

- We have had a number of press releases:

http://www.sbcnews.co.uk/esports-fantasy/2016/0...

http://www.sbcnews.co.uk/europe/uk/2016/04/26/j...

https://www.pressandjournal.co.uk/fp/news/viral...

https://www.google.co.uk/url?sa=t&rct=j&amp...

https://southamptonfc.com/news/2016-08-12/premi...

Monetisation strategy

Our business model is simple: we take a cut on any bet placed on our site, which is similar to the on-line poker business model.

The more people playing the games, the more commission we make.

We have a full UK Gambling License suitable for fantasy sports that permits us to let users play against each other to win money.

Use of proceeds

The main areas of investment will be:

- Product development (app & website)
- Marketing
- Salary (modest)
- Offices (modest)
- Other regions / sports

Product development
- Continuous improvement on the App
- Full site upgrade in the off season
- Additional leagues / sports

The App:
We have what we believe to be a ground-breaking app that went live on the App Store (Apple) and for Android devices in August 2016 for the start of the Premier League season. We are continually looking to improve the app as we figure out what works well and which areas can be improved.

The app focuses on the single game format and live in-play checking of all of your Premier Punt teams.

We believe our competitors have failed in the past to bring a noteworthy app to market because there is simply too much information to squeeze onto a small screen. When choosing a team for the Weekly Game format there are hundreds of players to choose from, with multiple statistics to show, not to mention a visual of the players you have already chosen.

Market

Target market

Our target market are:
* Male
* Aged 18 - 50
* Sports fans
* Like fantasy football

Characteristics of target market

- There are over 4,000,000 users playing the Official Fantasy Sports Platform this season.

- The market for global fantasy sports is currently estimated to be $40 - $70 Billion / year.

- Market analysts predict that this will grow year on year by over 10% until year 2020.

- This growth can be seen in the following graphs.

- The average user spend on Daily Fantasy Sports (DFS) is over £250 / year.

- But we are also targeting people who use mobile apps to gamble. We intend to apply for a Sportsbook license, which would allow us to take bets on non-fantasy sporting events: i.e. for Chelsea to beat Liverpool, or for Sturridge to score the first goal.

Marketing strategy

We believe we have a very powerful marketing strategy. A large UK gambling marketing company invested in Premier Punt in the last round of investment, which has been a game changer for the business.

The marketing company have delivered 16,500 downloads and over 15,800 downloads since launch.These have converted into paying customers with weekly cumulative deposits exceeding £10,000. They have huge reach in the social realm.

We are also the Official Partner of Southampton FC. Part of this deal involves them promoting Premier Punt on all of their outlets including:

- Advertising around the pitch.
- Advertising on the big screens in the stadium.
- Advertising on media back drop when players and managers are being interviewed.
- Saints FC Twitter Page.
- Saints FC Facebook Page.

We are also intending to roll out a network marketing campaign focused on raising funds for local sports clubs in the near future.

Competition strategy

Our two main competitors are Draft Kings and Fan Duel.
Both have made their way over to the UK this season from North America, but despite their large estimated marketing spend dwarfing ours, Premier Punt has still seen good download numbers.
A few things that make us stand out are:

1) We believe our product is unique - to our knowledge, we are the only ones who have the single game on the app format.

2) Our app has enjoyed great success in its first season, with over 16,500 sign ups and good reviews from our customers.
3) We're British-made. We don't have Draft or Duel in our name, nor do we use terms like "salary cap" or "offense". Those terms are offensive to us.

4) We believe our plans to provide sportsbook in the future will leave us with few competitors as we'll have unique challenges and competitions.

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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.

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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

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 Premier Punt has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 4 November 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 £2,800,093

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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