Our mission is to inspire more people to use light electric and active transportation.
Business overview
| Location | Salford, United Kingdom |
|---|---|
| Social media | |
| Website | www.swiftyscooters.com/ |
| Sectors | Automotive & Transport Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 07232162 |
| Incorporation date | 29 Oct 2010 |
Investment summary
Business highlights
- An award winning British Scooter brand
- Successfully exported to 46 countries
- High profile celebrity customers and international collaborations
- Excellent 5 star rating on Trustpilot
Idea
Introduction
Swifty is an award-winning British scooter brand. Our mission is to inspire more people to use light electric and active transportation.
With more than half of all car journeys being less than 5 miles long, and CO2 emissions from transport continuing to grow, these short car journeys present a massive problem.
The micro-mobility market is solving this problem directly by offering light and clean electric vehicles as a better alternative for travelling short distances. This has the potential to save millions of tonnes of CO2 emissions per year.
Swifty provides both active (human-powered) and electric scooters. Both are a clean and fun way of getting around town, fast.
Our customers are inspired to change their travel options as they fall in love with the smooth ride, British design and fresh styling of a Swifty.
Having spent the last 8 years building a trusted brand at the premium end of the scooter market, we are now ready to scale.
Intended impact
In our vision of the future, people will be able to move around cities freely, with minimal impact on the planet.
For the last two years, we have been working on a range of connected and smart e-scooters. Our plan is that by connecting both our active and electric scooters via the SwiftyAPP in future, we will be able to offer the ultimate Swifty experience.
We believe that this connectivity will open up opportunities to supply scooter-share fleet operators. We plan that the scooter-sharing market will be the most important factor in our growth over the next 5 years.
It is planned that the SwiftyAPP will enable users to unlock, share and track their journey. Business customers will be able to monitor and operate their Swifty fleet through the SwiftyAPP, incentivising their users to get fit, have fun and feel great.
Building on our foundations as a premium scooter brand, our aim is to inspire positive change through technology, design, and innovation.
The shift to clean transportation is already happening. In the recent report by McKinsey, the micro-mobility market is estimated to be worth $500bn USD globally by 2031. Our ambition is to target this market and acquire market share.
Substantial accomplishments to date
We want to make Swifty the most anticipated scooter brand in the world.
This year has seen the pre-order launch of a very special project; the SwiftyONE Carbon. This will be our most technical product to date, and a shining example of our passion for design and innovation.
From humble beginnings to Export Champions Over the last 8 years, we have successfully launched 34 products and exported to 46 different countries through the internationally trademarked Swifty Scooters brand.
Our loyal customer base have voted us 5 stars on Trustpilot and Google, and 4.7 stars on Facebook.
Please note, revenue numbers based on unaudited management accounts.
Monetisation strategy
We sell, rent and lease our scooters, accessories, and fleets to end consumers and businesses through our global e-commerce platform, retailing partners and regional distributors.
Key business drivers:
1) Shared Micro-Mobility
We plan to supply our new range of connected, sharable scooters to fleet operators, businesses, and end consumers.
2) New Product Development
Our product development doesn’t stop at scooters. We will command brand loyalty by also offering high margin accessories and apparel merchandise.
3) Global E-commerce
We currently sell through swiftyscooters.com and have recently launched a dedicated e-commerce store in Australia (Jan 2019). Dedicated e-commerce stores in Germany, USA, Japan, Thailand, South Korea, and Singapore will be launched by 2020.
4) Swifty Community
We will continue to excite and grow our community with authentic, engaging, and original digital content.
Use of proceeds
This is an extraordinary time for micro-mobility, and the optimal time to join Swifty Scooters.
The proceeds from this raise will be used for the following:
1) Finalise and build the SwiftyAPP, connecting our current active and electric scooters
2) Complete R&D of new e-scooters and bring to market in 2020
3) Roll out a range of Swifty branded lifestyle accessories and apparel merchandise
4) Grow the team in key areas of Sales, Marketing, and Tech
Now is your chance to earn rewards by investing in Swifty. Invest now and receive exclusive discounts on Swifty products, including Swifty Carbon!
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
Share Classes
Swifty Scooters has 3 classes of shares outstanding;
i) A Ordinary Shares
ii) B Ordinary Shares
iii) Preference Shares
Seedrs investors will be receiving A Ordinary Shares.
The A and B ordinary shares rank pari passu in all respects, with the only difference being that A Ordinary Shares have a nominal value of £0.01 and B Ordinary Shares have a nominal value of £5.00. These shares carry an equal right to distributions and voting.
Preference shares have a nominal value of £1 and do not entitle the holders to any voting rights. The preference shares accrue a yearly fixed cumulative dividend of 3.5% of nominal value, which is rolled up if not paid from available profits. Preference shares rank first in any distribution, however the distribution is capped at the nominal value plus any accrued and interest due. Preference shares must be redeemed 5 years after they have been issued, if they have not been already redeemed.
As Preference Shares are effectively treated as a debt, they have been excluded from share price calculations.
Debt
There are currently 75,000 preference shares in issuance of £1 each. They accrue an annual cumulative fixed dividend of 3.5% which is rolled up if not paid.
There is also an outstanding directors loan of £75,000, which accrues no interest and is only repayable if the company makes a profit.
Investor funds will not be used to repay debt.
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