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Shoorah

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Supporting mental health and wellbeing through our simple, convenient app

108%
 - 
Funded 21 Jul 2023
£150,001 target
£163,249 from 162 investors
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Business overview

Location Hornchurch, United Kingdom
Social media
Website shoorah.io
Sectors Healthcare Digital B2C
Company number 14174217
Incorporation date 15 Jun 2022
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Investment summary

Type Equity
Valuation (pre-money) £3.6M
Equity offered 4.33%
UK tax relief

SEIS

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Business highlights

  • We're making it easier for people to prioritise their wellbeing
  • 12,000 app downloads within the first 3 weeks of launch
  • Growing social following of 19,200
  • Over 600,000 people engaged via our social media channels
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Key features

  • Secondary Market
  • Nominee investment min. £10.80 +

Idea

Introduction

1 in 4 people will experience a mental health problem of some kind each year in England.

At Shoorah we aim to make it easier than ever to look after our mental health and wellbeing. Our app offers access to multiple self-work tools and insight to techniques to help your mental health, all in one place - from e-journaling to meditations, breathwork, affirmations, rituals, mood & emotion tracking tool and our innovative mind ‘cleanse’ feature.

It's been developed by a team of professionals within the wellbeing industry, alongside co-founders Lorri Haines and Ferne McCann who have experienced and overcome their own mental health challenges.

We know the Shoorah tools work - we use them ourselves every day to help us navigate life’s ups and downs.

Shoorah is for everyone - whether you’re at home or on the go, if you’re having a chilled day or rushing to keep up with life……Shoorah is always there with its simple, short tools to help you cope.

It all starts with Shoorah.

Substantial accomplishments to date

Shoorah has come a long way in a short time. Just a year after the concept was born, the product has been brought to market and built a community of thousands.

After launching in May, Shoorah reached the top 10 of the global Apple download chart within a day of the public launch. More than 12,000 people downloaded our app within the first three weeks after launch.

The brand has a strong reach and we have already appeared in national media (The Daily Mirror/Daily Mail), lifestyle magazines (new! magazine / OK Magazine)and on national television (ITV2), with a combined reach of millions of people across the UK.

Shoorah has also been featured in several business publications including Business Matters and Start-Ups Magazine.

We grew our Shoorah social media base to more than 19,000 followers which continues to grow daily. We also built an email waiting list of 6,000 people pre-launch and engaged with over 600,000 people via our social media channels before the app went live.

Monetisation strategy

Shoorah is sold direct to the customer via our app and works through a monthly subscription model.

Following a 7-day free trial, Shoorah offers an auto-renewing monthly subscription at £9.99 per month, an auto-renewing 6-monthly subscription at £6.99 per month (total £41.95) or an auto-renewing 12-month subscription at £4.99 per month (total £59.99).

Future monetisation strategies also include introducing affiliate marketing, holding and attending in-person events and collaborating with complementary organisations across various sectors.

Use of proceeds

We plan to use investment to strengthen our brand, through PR and marketing expertise, reach our target audience through specific paid advertising and, over time, to expand our reach into new geographies, specifically the US.

We also plan to deliver Version 2 of the Shoorah app, which involves planning, building and deploying new technologies into our platform, including exploring AI & machine learning for deep user understanding so Shoorah can help better serve the users and their experience on our platform. We have lots of industry changing plans for Shoorah, that we can not share right now for secrecy and copy right reasons.

Key Information

Outstanding debt

The company has an outstanding directors loan for £120,000. This loan is not interest-bearing and is not to be repaid until the company is profitable. None of the funds raised in this round will be used to repay this loan.

Founder interests

Lorri Haines is also a director of a marketing agency Capsa London Ltd. Going forward, Lorri will continue as a director in Capsa London Ltd but will spend 100% of his time on Shoorah Ltd.

Ferne McCann is a director of McCann Enterprises Ltd and will spend 90% of her time on Shoorah Ltd.

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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 Shoorah has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 13 June 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 £3,600,000

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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.

Pitch type

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Equity Offered

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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

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Secondary market

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Direct investment

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Payment options

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Business Involvement

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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

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Security Token

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