savvy navvy

Idea

Introduction

At savvy navvy, we save sailors hours of frustration by finding the best and safest routes to their destination. Instead of having to use multiple apps, sailors can simply drop a pin on the map, and we’ll work out the best route in seconds.

BOATING BOOM

This year is set to be an amazing year for the boating industry. The unique conditions of the pandemic have shown the attractions of the boating lifestyle, drawing many new and younger consumers into the boating world.

Boating industries from the US to Finland have seen a dramatic increase in demand. The cabin fever of lockdowns, combined with the need to provide a recreational outlet for the family whilst remaining socially distanced, has led to a buying frenzy, with sales up by 21%. Even more promising are the sales to first-time buyers, which are up by 10%.

We see a massive opportunity, as vaccines roll out across the globe, and people look towards boating to bring back some happiness with younger generations enjoying the water.

Substantial accomplishments to date

2019

● Raised more than £330,000 from 414 investors
● 22,000 registered users
● 6,000,000 miles of routes calculated
● £16k Annual Recurring Revenue
● Reached Product Market Fit*
● And Jelte won the Seedrs 2019 Entrepreneur of the Year award

* Defined as having more than 40% of users who would be very disappointed if they could no longer use savvy navvy. We reached 47% in Dec 2019

2020

● Raised more than £600,000 - we now have more than 1,200 investors
● Including the founders of Kahoot
● 56,000 registered users
● 15,000,000 miles of routes calculated
● £76k Annual Recurring Revenue (375% year on year growth)
● Increased our chart coverage to 93% across five global regions
● Reduced our customer acquisition costs to under £40*
● Added support for motorboats, extending our targetable market
● Secured partnerships with Sunsail, Navily, Dockwa, GJW Insurance, XShore, various yacht clubs and marine brokerages around the world and many more

‏‏* Data for UK and Ireland marketing campaigns

2021 (Q1)

● Translated our app into 8 languages across our target regions
● Built nine marketing campaigns, ready to launch across 17 countries
● Broke through £100,000 Annual Recurring Revenue

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Monetisation strategy

MODEL

- Three annual subscription plans, ranging from £35 to £65 / year
- Average annual revenue per user of £51
- Annual retention rates above 80%
- Average customer lifetime value of £250

Combined with a customer acquisition cost below £40, this gives us a healthy margin and places us in a position where we can scale up, and start taking a slice of the billions spent in the leisure marine industry.

BACKED BY THE FOUNDERS OF KAHOOT!

Johan Brand and Jamie Brooker are most notable for founding Kahoot!, a game-based platform that has been played by more than a billion people globally. On a personal level, they are extremely passionate about the Ocean as well.

"We know from experience how important it is to build a sustainable company with data-driven decisions, and found Jelte and his team to be exceptional on this front. We are super excited about the future for savvy navvy." --Johan

Use of proceeds

We have extensive data on boating activities throughout our core regions and as such, know precisely when to dialup our marketing efforts to achieve maximum results. That time is now!

The funds of this round will enable us to:

● Increase Annual Recurring Revenue by:
● Executing nine marketing campaigns across 17 countries
● Improve the product with additional support for:
‏‏‎ ‎‏‏‎ ‎‏‏‎ ‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎● Saving and sharing of routes - enabling a viral element to the app
‏‏‎ ‎‏‏‎ ‎‏‏‎ ‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎● Integration of boat telemetry - allowing further data collection
‏‏‎ ‎‏‏‎ ‎‏‏‎ ‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎● Better offline support - in particular for iOS devices
‏‏‎ ‎‏‏‎ ‎‏‏‎ ‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎● Personalised insights, and recommendations - driving engagement

This strategy allows us to scale "horizontally". Rather than attempting to gain double-digit market share in one country, we only require a relatively small percentage of boaters in each country to achieve our goals.