The world’s leading tattoo platform connecting people with tattoo artists, now ready for expansion.
Business overview
Location | Copenhagen S, Denmark |
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Social media | |
Website | www.tattoodo.com/ |
Sectors | SaaS/PaaS Mixed Digital/Non-Digital Mixed B2B/B2C |
Company number | 44470780 |
Incorporation date | 13 Aug 2012 |
Investment summary
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
Key features
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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