We help private investors diversify their portfolio by providing easy access to alternative investments.
Business overview
| Location | Zug, Switzerland |
|---|---|
| Social media | |
| Website | www.splintinvest.com/en/ |
| Sectors | Finance & Payments Digital Mixed B2B/B2C |
| Company number | CHE-317.401.567 |
| Incorporation date | 9 Apr 2021 |
Investment summary
Business highlights
- April 2021: founding of MARK Investment Holding AG
- Over 20,000 downloads and 7,600 registered users
- Over 1,300 monthly active users
- December 2022: over €2M invested
Key features
Idea
Introduction
With Splint Invest, we aim to enable every private investor in Europe to diversify their portfolio with alternative investments.
We achieve this by offering a platform, where only pre-selected and certified suppliers are allowed to offer their investment-grade-assets to private investors.
1) Splint Invest is made to invest fast, easily, and securely: Download the app. Create an account. Invest in alternative assets—all in less than 2 minutes. Everything else is just as simple.
2) Splint Invest offers only hand-picked investments: Our certified experts carefully evaluate every investment to ensure only the best opportunities for private investors.
Substantial accomplishments to date
Since February 2022 we have been working full time on the Splint Invest project. We have started to advertise the app and implemented a customizable referral system. The result is a significantly increasing number of active users. As of today, we have over 7,600 registered users and over 3,500 active users.
In a few months, we were able to onboard 14 validated suppliers and we have sold over 80 investment opportunities with a total value over €2,6 million.
*The numbers in January are as of 25.01.2023 and not yet final.
Monetisation strategy
We believe many retail investors understand that the cash in their bank account does not generate value. However, since they don't want to take on additional risk by investing in stocks or ETFs, they accept it. We also believe they know about inflation, but since they are risk-averse and the disadvantage will be only visible in a few years, they decide to stay inactive. However, we believe that if they had an option to invest this additional money in something stable, which does not correlate with the stock market, they would do it.
Our fee model is based on the value we generate:
1) Mark-up at initial offering: We add a mark-up of 8-10% to each investment opportunity on the primary market. The mark-up is included in the asset value.
2) Transaction/selling fee: When a private investor sells his/her tokens (Splints) on the marketplace, or once the asset is sold at maturity, we charge a 2% fee, based on the transaction value.
Our fees are clearly communicated within the app and transparent.
Use of proceeds
The funds collected will be used to help us achieve the following milestones:
1) Reach 10,000 monthly recurring users and approx. 100,000 active users.
2) Planning a potential app launch in the EU.
3) Working towards unlocking the new asset category "Private Equity".
To achieve the goals, we will invest in customer acquisition - paid and organic marketing channels, in onboarding new experts for the asset category Private Equity, in developing and implementing new features, like multi-currency and auto-invest, as well as in get all licenses needed to expand accross Europe and UK.
Key Information
Group Structure
Investors in this round are investing into and will become shareholders of MARK Investment Holding AG. This is the holding company and the only entity.
Relationship: Findependet - Splint Invest
Findependet is an app to invest in ETFs. Within the app, they have a section where they recommend other investment apps, to diversify the portfolio (additions to ETFs). Splint Invest is one of the apps promoted there. Splint Invest pay Findependet 5 CHF per lead and 0.35% of the revenue generated by their leads for 36 months after signup.
Share Class
The company currently has 2 classes of shares, Common Shares and Preference Shares. Splint has also issued Participation Certificates, which are an alternative form of equity security issuable in Switzerland. Participation Certificates are identical to shares in terms of their risk and rights, other than that they do not entitle the holder to a vote - and are commonly used for equity crowdfunding raises in Switzerland.
Seedrs investors will be receiving Preference Shares, whereas the other investors in this round will be receiving Participation Certificates.
The rights attached to the share classes and Participation Certificates are as follows:
o Preference Shares
• 1x non-participating preference on winding up, exit or IPO (see further below)
• Broad-based weighted anti-dilution rights
• Voting rights
• Dividend rights
• Rights to capital distributions
o Common Shares
• Voting rights
• Dividend rights
• Rights to capital distributions (subject to the preference below)
o Participation Certificates
• 1x non-participating preference on winding up, exit or IPO (see further below)
• Broad-based weighted anti-dilution rights
• No voting rights
• Dividend rights
• Rights to capital distributions
Preference
The Preference Shares and Participation Certificates carry a 1x non-participating preference on exit, IPO or liquidation (‘Trigger Event’).
On a Trigger Event, the proceeds will be distributed as follows:
o The holders of Preference Shares or Participation Certificates will first receive an amount equal to the aggregate issue price of all Preference Shares / Participation Certificates held by them (i.e. a sum equal to the investor’s original investment).
• If there are insufficient funds for each Preference Share / Participation Certificate holder to be returned their full investment, then each will receive an amount based on their pro-rata holding
o If there are any funds remaining after repayment of the above, the balance will be divided amongst the Common Shareholders pro-rata to their shareholding.
Preferred Shareholders are entitled to convert their shareholding into Common Shares by majority vote (50% of all Preferred Shareholders) - meaning that if they would receive a greater return if the proceeds were simply distributed among all shareholders pro-rata, then this can be elected instead.
Debt
The company has the following outstanding loans:
1. CHF 100,000 revolving credit facility with interest (4.5% pa) which can be drawn and repaid until revoked. There are currently no sums drawn down.
The funds raised from this investment round will not be used to repay these loans.
Convertible Loans (Converting this round)
The company has the following outstanding convertible loans, which will convert to equity on completion of this round. The shares to be issued in respect of the principal amounts of these loans have been factored into the pre-money valuation for this campaign but any amount accrued under interest has not. This is because the final interest accrued will depend on when conversion occurs:
CHF 500,000 (equivalent to approx €506,044) from angel investors, which are converting into Preference Shares at a share price of CHF 0.616.
CHF150,000 (equivalent to approx €151,813), with 5% annual interest from Venture Kick accruing from 21.09.22, and CHF 100,000 (equivalent to approx €101,208) from F10, which are converting into Preference Shares at CHF 0.9 per share, i.e. the same share price of this round.
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