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Tutti

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Creative venue marketplace for shoots, recordings, performances. Raising to build software.

123%
 - 
Funded 27 Nov 2022
£240,000 target
£300,457 from 337 investors
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Business overview

Location London, United Kingdom
Social media
Website www.tutti.space/
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 10489900
Incorporation date 21 Nov 2016
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Investment summary

Type Equity
Valuation (pre-money) £1.5M
Equity offered 16.45%
Tax relief

EIS

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Business highlights

  • 2 sided marketplace fully operational used daily
  • 4000+ creators and 1000+ spaces live on Tutti
  • BBC, ITV, & Sky have used Tutti to find space
  • Self funded until April 2022
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Key features

  • Secondary Market
  • Nominee investment min. £10.80 +

Idea

Introduction

Tutti is the "Opentable of creative spaces!"

We’re a B2B SaaS enabled marketplace that provides software including booking management solutions and integrated CRM to places that are available for video/photo shoots, rehearsals, recordings, performances and anything creative.

At the same time, our marketplace helps creative professionals discover and book those amazing spaces, quickly and easily.

Creators save time and money on Tutti by finding and booking the perfect space, thanks to our 30+ unique creative filters, including external noise, internal equipment, instruments, wall & floor types, or even nearby tube or train lines.

We pride ourselves on our high quality data and transparency. Unlike our competitors, we want people to have access to as much information & direct contact with our hosts, as quickly as possible.

This means that queries are resolved faster, & enquiries are more efficient giving everyone more time to focus on the creative parts of their work.

Substantial accomplishments to date

2018:
May: Graduated Founder Institute
Oct 31: Launched “Airbnb for music rehearsal spaces” (no-code MVP)

2019:
Mar: Accepted into the Rattle Collective - accelerator for groundbreaking musicians and musictech companies
April: Expanded scope to “Airbnb for creative spaces
April: Featured on Daily Mail as one of 11 shortlisted startups in This Is Money’s Great British Entrepreneur Challenge
July: 100 listings, 250 users
Oct: Partnered with School Space

2020:
After April: Built our own marketplace tech, using the lessons from our no-code MVP as guide. Created MVP 2 - entirely our own IP
Oct: Partnered with Alternative Venues London

2021:
Feb: Assisted UK government’s DCMS with Music Studio Market research that was released in June 2021
Jul: Featured by ClassicFM
Aug: Invited to become a member of Dream Factory
Sep: Accepted into London & Partners’ Business Growth Programme
Dec: Featured on Spice Startups’ 2021 Q4 Hot List

2022:
Mar-Apr: Raised the first portion of this funding round
Apr: Began work on software
Jul: Software MVP shown to pilot testers for feedback
Aug: 4000 users on our platform

Monetisation strategy

As a SaaS enabled marketplace, Tutti will have two core monetisation strategies:

- Marketplace - we will charge 10% commission on bookings
- For SaaS we will charge- £30 monthly subscription + 4% on payments that use our integrated payments processor.

Use of proceeds

The money raised here will be used for 2 key things:
• Continue building our software for creative venues
• Sell our software to venues, not just in London, but across the UK, which will in turn help us grow the marketplace across the UK.

Percentage breakdown:
• Product development: 64%
• Sales & marketing: 20%
• SaaS, subscriptions, and technologies: 10%
• Admin & additional costs: 6%

Key Information

Debt

Bounce back loan: The company has an outstanding Bounce Back loan of £48,841.97 with an interest rate of 2.5% per annum. There is a 6 year and 6 month repayment window for this loan.

Director’s loan: The founder, Gabriel Isserlis, has a director’s loan of £300,000 which is to be repaid once the company is profitable.

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

Direct Investment

Please note, £139,860.00 of the direct investment reflected in the campaign was received by the business 23rd March 2022. The business has already begun using these funds in line with the Use of Proceeds for the campaign.

Investor Perks

£20: 3 Tutti stickers

£100: Tutti tshirt

£500: Seedrs 2022 crowdraise limited edition Tutti mug

£1000: Lifetime subscription to Tutti pro software for 1 venue

£5000: Private tour with Gabriel, around 1 of our incredible venues in London.

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.

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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 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 £1,500,000

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

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).

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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.

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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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