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Tattoodo

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The world’s leading tattoo platform connecting people with tattoo artists, now ready for expansion.

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Funded
€800,000 target
€856,342 from 0 investors
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Business overview

Location Copenhagen S, Denmark
Social media
Website www.tattoodo.com/
Sectors SaaS/PaaS Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 44470780
Incorporation date 13 Aug 2012
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Investment summary

Type Equity
Valuation (pre-money) €22.9M
Equity offered 3.38%
Tax relief N/A
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Business highlights

  • Global community of 30M tattoo artists and fans
  • 25% MoM average Revenue growth in 2023*
  • Ready for UK/US expansion
  • Founded by tattoo legends Ami James & Daniel Agger
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Key features

  • Secondary Market
  • Nominee investment min. €10.00 +
  • Direct investment min. €25,000.00 +

Idea

Introduction

Tattoodo makes it easy and safe to find and book the right artist for your next tattoo while helping tattoo artists grow their businesses.

Tattoodo is on a mission to redefine how people discover and book tattoos. By providing a safe and easy-to-use platform, Tattoodo ensures that customers no longer have to rely solely on word-of-mouth or take chances with untested artists. By using Tattoodo, people can easily get matched with a quality tattoo artist for their individual needs - in just a few simple steps.

The tattoo industry is a multi-billion dollar market, and tattoos are more popular than ever, as 30% of the combined US and UK populations are tattooed. However, despite the massive increase in popularity, finding a quality tattoo artist and booking an appointment is difficult and time-consuming. The industry is still characterized by lack of digitization and transparency regarding pricing, quality and artist specialities. This makes it difficult for customers to make well informed decisions, when booking a tattoo artist.

Tattoodo handpicks and verifies all tattoo artists to ensure the highest quality. By leveraging cutting-edge tech and AI, we’ve made it easy for customers to find and book the perfect tattoo artist for their next tattoo.

Substantial accomplishments to date

• Tattoodo started as a destination for tattoo inspiration and has grown into the largest tattoo platform in the world, with 30 million tattoo fans across our channels.

• In 2023, we launched our booking service, with London as the beachhead market.

• Our customers love the new experience, giving it an average rating of 4.98 out of 5 ⭐️

• We've generated $1.3M in artist revenue (GMV) YTD to September 23, and revenue has grown by an average of 25% month over month in 2023*.

• We've onboarded and verified 120 tattoo artists in London.

• Ready to expand to the rest of the UK and selected cities in the US in 2024.

*Based on unaudited management accounts

Monetisation strategy

Our business model is based on tattoo artists paying a 20% commission on each booked tattoo. In 2023, the average booking is $439, resulting in a $88 profit per booking.

Looking ahead, we plan to increase profitability by introducing new services. This includes improved financing options and unique tattoo insurances - providing added value for both tattoo artists and clients. Our goal is to go beyond the conventional and enhance the overall tattoo experience through practical solutions and innovative offerings.

Use of proceeds

The new investment will fund the expansion of our service in the UK and selected cities in the US in 2024, while preparing the product and company for our global expansion in 2025.

This investment round is being led by our committed shareholders, including Daniel Agger and Simon Kjaer, who share a strong passion for tattoos and Tattoodo's potential.

Through this crowdfunding, we aim to expand the Tattoodo family, empowering us to take even greater strides towards revolutionizing the tattoo industry - building the #1 go-to booking platform for tattoos.

We'll hope you'll join us on the exciting venture!

Investors Perks

UPDATE: We are entering the last phase of the crowdfunding campaign, and we’re so excited with all the support we’ve gotten so far. To celebrate this, we want to introduce our exclusive investor perks, where you will get a FREE TATTOO from one of our artists for every investment that surpasses €1,000!

(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. 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

Previous restructuring process

Originally incorporated in 2012, the company completed a court-approved restructuring process to reduce its debt on October 28, 2022. As a result, ownership is now held by a small group of committed investors, with Daniel Agger, one of the co-founders, serving as the majority owner.

Dilution from employee share scheme

An employee incentivisation scheme has been implemented for up to 30% of the Company’s total shares. This has been allocated to management and the core team. These shares have been factored into the pre-money fully diluted valuation.

Outstanding debt

The company has the following outstanding loan:

Lender: Vækstfonden
Outstanding principal: €725,279.00 (as of March 2023)
Interest: CIBOR 3 months + 5% per annum, payable quarterly with effect from July 2023
Repayment: bullet repayment at maturity (1 January 2025)

The funds raised from this investment round will not be used to repay these loans.

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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 webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

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 €22,857,143

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

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

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).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

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

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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