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The Eighth Door

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An essential property professional’s tool to enable fast and efficient business growth, globally.

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Funded 12 Jan 2022
£150,002 target
£156,146 from 0 investors
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Business overview

Location Harrogate, United Kingdom
Social media
Website www.eighthdoorclub.com
Sectors Property Digital B2B
Company number 10264779
Incorporation date 6 Jul 2016
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Investment summary

Type Equity
Valuation (pre-money) £2.1M
Equity offered 6.61%
Tax relief

EIS

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Business highlights

  • Finalist for Best Advocate Proptech at The Proptech Awards 2020
  • Launched in Apple App Store and Google Play store June 2020
  • Expert Advisory Board from YourKeys/Zoopla and Pollenise
  • Members from 26 different countries.
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Key features

  • Secondary Market
  • Nominee investment min. £11.34 +

Idea

Introduction

Launched in 2020, The Eighth Door is a disruptive new platform that is set to revolutionise the way that real estate business is conducted, powering new deals, business partnerships and scaling real-estate propositions.

In an industry that thrives on social interaction and pitching to make deals happen, The Eighth Door is the dating platform of the real estate ecosystem, connecting all types of property professionals to relevant new business opportunities whilst extending their business network.

Introducing 'Pitch' - a real-time stream of tailored, innovative and valuable propositions where users pitch their opportunities, requirements and services in 30-second elevator pitches, through video, audio and visual content.

Pitchers easily reach out to interested parties to discuss, share and ultimately conduct business, with a spam-free environment. They can connect with pitchers and new contacts, open-up direct message conversations, arrange a call or meeting directly.

The Eighth Door is putting the fast and quick-paced world of property and technology at your fingertips!

Substantial accomplishments to date

- Team and advisors brought from key property companies around the world including, Yourkeys, Pollenise and Landmass.

- Shortlisted for Proptech Advocate Award at the UK Proptech Association Awards 2020

- Self funded initial MVP development

- Committed SEIS funding of £150,000

- Nearly 2500 members on invite only beta MVP Test and Learn with feedback

- Members from 26 different countries

Monetisation strategy

We are currently developing the new feature 'Pitch' to be released in Beta in the Autumn. We plan to Stay in Beta and offer the app for free for 3 months, where we will begin implementing stratergies to increase users.

Once we hit 10,000 users, we will implement our subscription model Revenue, where users can upgrade to Pro User and pay a monthly subscription of £9.99 per month.

From year 3 and beyond we plan to bring in a SAAS model to reach Corporate companies to bring in more users and revenues.

We have many ideas beyond the plan. As The Eighth Door is a global multi-stakeholder property platform, the amount of traffic and user engagement is poised to be much higher than on other dedicated binomial platforms.

We believe The Eighth Door can offer much superior ROI for all property professionals by not having the noise from totally irrelevant users. This will lead to huge opportunities in sponsorship, affiliate marketing and advertising revenue generation.

Use of proceeds

Our core business model is set to be profitable, however, we keep investing in areas that will make our business become even stronger in the future.

The funds raised in this round will be allocated towards three main areas:

1) Continued growth in already existing markets, through increasing Marketing and reaching all cities.

2) Investment into tech product development to further increase operational efficiency and bring on new resource to help implement this.

3) Introducing premium features and implementing subscrition revenue model.

Key Information

Loan Disclosure

The company has a bounce back loan of £48,000 taken out from July 2020 to January 2027, with repayment to begin from February 2022. This loan is Interest free for the first 12 months with an interest rate per year of 2.5% thereafter.

Funds raised as part of this round will not be used to repay outstanding debt.

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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 campaign for The Eighth Door has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 5 October 2021 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 £2,119,610

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.

Warning

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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