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The Refillable.Co

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Refillable is a sustainable grocery supermarket, offering single use plastic-free everyday essentials.

120%
 - 
Funded 21 Oct 2022
£100,001 target
£121,042 from 165 investors
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Business overview

Location Bath, United Kingdom
Social media
Website www.refillable.shop
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 12741780
Incorporation date 14 Jul 2020
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Investment summary

Type Equity
Valuation (pre-money) £670K
Equity offered 15.29%
Tax relief

SEIS

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Business highlights

  • Winner of Southerns Enterprise Awards, Sustainable Shop 2022
  • Finalist The Great British Entrepreneur Awards, 2022 (November)
  • Stock growth from 156 products to over 900 in 2022
  • Customer & newsletter growth over 900%
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Key features

  • Secondary Market
  • Nominee investment min. £10.05 +
  • Direct investment min. £10,000.00 +

Idea

Introduction

Refillable is a sustainable supermarket offering consumers everyday grocery and café items that are single-use plastic free and ethically sourced. Customers bring in their containers to fill up from a wide range of essential everyday items which are environmentally responsible, high quality and fairly priced.

Our Cafe serves as a show-case of our products offered in the shop. Furthermore, it offers specialised blends of cold pressed juices, fresh smoothies, Super Bowls, Power breakfast pots and commuter deli-style meals all designed with specific nutritional benefits.

The Shop and the Cafe work together to promote real-life example of zero-waste food whereby our Green Grocer section “feeds” the Cafe with close to end of shelf-life fresh produce.

Substantial accomplishments to date

Refillable opened its doors in Bath in October 2020. Since then we have accomplished the following:

~ Winner of the Southern Enterprise Awards, Best Sustainable Grocery and Essentials Shop Somerset 2022

~ Finalist in the Great British Entrepreneur Awards 2022, to be held in November 2022

~ Bristol Regional Finalist at The Pitch 2022

~ Highly commended at the Bath Spa Creative Awards 2021, category “Start Up of the year”

~ Finalist at Bath Life Awards 2021, category Environmental

Despite very challenging economic climate since opening, Refillable has seen:
~ Over 900% growth increase in customer and follower base
~ Stock growth from 156 products in opening month to over 400 products currently
~ An average of over 40% revenue growth in 2021* (Compared to Q4 '20).

*based on unaudited management accounts.

Monetisation strategy

Refillable is an omni-channel enterprise, with a brick-and-mortar shop and online shop.

Current revenue generators are:

~ Direct retail sales - everyday food groceries and essential items from the brick-and-mortar shop

~ Cafe - siting in and take out coffee, juices, patisseries, light snacks

~ Online shop - www.refillable.shop

~ B2B - supplying local businesses with zero-waste products

Use of proceeds

1. Brand Building
Through a well-planned marketing strategy we will look to cement strong brand recognition in the market. Creating a brand personality that is trusted, loved, and value adding to the consumer.

2. Overheads & HR

Hire and train new staff members in Front of shop, Marketing and Fulfilment. As well as assembling a project team that will begin preparation for scaling.

2. Shop expansion

We will look to add extra merchandise display units, deli counter, café display units to the current flagship shop extra. All with the aim of increasing our product offering to over 2,000 items.

4. Relaunch of E-Commerce site

Redesign current online shop to be more user-friendly with improved functionality. We intend to increase the revenue generated through this channel and widen our geographic scope beyond the physical shop.

5. Electric Van

To acquire and brand an electric vehicle that will fulfil our online orders and extend the geographical range of the brick-and-mortar shop, reaching further to 10 miles radius.

Key Information

Tax Relief

The company has £150,000 SEIS allocation remaining. SEIS will be allocated on a first come first served basis. Any funds invested over £150k will be eligible for EIS tax relief.

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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 The Refillable.Co has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 16 September 2022 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 £670,000

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

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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 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).

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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.

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Secondary market

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Direct investment

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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

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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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