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Vendoir

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One-stop-shop event planning app on a mission to make events sustainable, stress-free & inclusive.

100%
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Funded 19 Nov 2023
£100,001 target
£120,825 from 118 investors
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Business overview

Location London, United Kingdom
Social media
Website www.vendoir.com
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 12986100
Incorporation date 31 Oct 2020
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Investment summary

Type Equity
Valuation (pre-money) £3M
Equity offered 3.27%
Tax relief

SEIS

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Business highlights

  • 10K+ downloads,100+ bookings, 342% revenue growth*
  • Top 100 UK Startup, featured in Forbes, Metro etc.
  • 4.8/5.0 cumulative app rating + growing community
  • Part of Barclays & Virgin Accelerator programme'23
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Key features

  • Secondary Market
  • Nominee investment min. £12.45 +
  • Direct investment min. £25,000.00 +

Idea

Introduction

Vendoir is an on-demand app which launched publicly in Nov'22, enabling easy sourcing, booking & management of event suppliers. Our mission is to create a global, diverse, sustainable, and inclusive community for stress-free events. With 24/7 access to suppliers and a user-friendly platform, we cater to digital natives. With the UK event industry valued at £70Bn, we believe we have immense growth potential.

Committed to net-zero carbon emissions by 2040, we aim to reduce emissions through remote supplier sourcing and plan to introduce a secondary marketplace to minimize waste and an event carbon footprint tracker to support sustainable events.

Vendoir is a cutting-edge marketplace with vetted suppliers, secure transactions, and reliable reviews. We have a comprehensive event planning solution and our future plans include the launch of AI-driven efficiency enhancements, and introducing exciting new app features such as customer pricing, expense sharing solution, and a fan page for suppliers.

Substantial accomplishments to date

We believe that Vendoir has achieved remarkable milestones since its app launch in November 2022. With 10K+ app downloads in just a few months, Vendoir has quickly gained traction. The platform has expanded its waitlist presence to 50 countries within six months, which we believe demonstrates a strong global demand.

We have seen strong early revenue growth between Q4'22 to Q1'23.* With over 100 successful bookings, Vendoir maintains a cumulative rating score of 4.8/5.0 on IOS and Android platforms.

*(Based on unaudited accounts).

Vendoir Industry recognition includes:

• Top 100 UK Start-up, solidifying its position in the market
• Featured in prominent platforms such as Forbes, Metro, Techround, and UKTN.

• Corporate LiveWire Event Management App of the Year Winner
• AAA Emerging Brand of the Year Winner
• BTA Awards App of the Year Finalist
• Startup Awards Hospitality & Event Startup of the Year 2023 Finalist

Additionally, the company is committed to sustainability and plans to achieve net-zero carbon emissions by 2040 through carbon reduction strategies and a secondary marketplace for used event items.

We believe Vendoir is poised for further growth. The company aims to expand in the UK, launch a sustainable secondary market, implement AI for efficiency, introduce new app features, and drive international scalability.

We believe that Vendoir's accomplishments, user base, revenue growth, and industry recognition highlight its momentum and potential. Vendoir aims to disrupt the event industry projected to be worth $2.2 trillion globally by 2028.

Monetisation strategy

Vendoir generates revenue through a commission-based model, charging a 10% fee on transactions made by planners, organizers, and businesses booking event suppliers on the platform. It plans to introduce a monthly subscription for premium accounts, providing enhanced features and a tailored event-planning experience.

In the future, we will look to earn commissions through partnerships, leveraging the user base and services of industry collaborators. These strategies create a sustainable and diverse revenue stream, enabling Vendoir to provide services, improve the platform, and expand its reach in the event planning industry.

As Vendoir grows it will look to onboard more supplier types and expand its services to other countries which will potentially bring numerous benefits, including a broader customer base, global partnerships, learning opportunities, and competitive advantage. By capitalizing on these opportunities, Vendoir hopes to accelerate its growth and become a prominent player in the industry.

Use of proceeds

The funds raised will be allocated as follows:

Technological Enhancements (20%): R&D, mobile app enhancements, Artificial Intelligence integration, and cybersecurity measures for better user experience and data protection. Sustainable Initiatives: Introduce tools to track event carbon footprint, an event secondary marketplace, and sustainability partnerships.

Talent Acquisition and Team Growth (30%): Attracting skilled professionals in software, marketing, and business development.

Growth: Marketing, Use Acquisition & Partnership (50%): Targeted advertising, influencer collaborations, and partnerships for brand awareness, new users, and market entry.

We hope that these strategic allocations will fuel innovation, expand the user base and meet evolving needs. Objectives include platform enhancement, talent acquisition, market reach expansion, and sustainability efforts. The aim of this investment is to help drive long-term success in event planning.

Key Information

SEIS & EIS Tax Relief:

The company is eligible for SEIS tax relief and has £130,322 of its SEIS allocation remaining for this round.

£42,000 of investment reflected as part of the campaign is from a direct investor who is ineligible for SEIS tax relief. As a result, SEIS allocation will be available up until the campaign bar reaches £172,322. Investment beyond this point is expected to be eligible for EIS tax relief.

Tax treatment depends on individual circumstances and is subject to change in the future.

Team:

Yoma James-Kukor Co-founder and COO of Vendoir previously co-founded another business in 2019 called City Vybez. City Vybez is an event organising business which organises urban nights on a monthly basis. Yoma is a shareholder of the business, but has no active role in the day-to-day operations. On average Yoma spends 2 hours a week on work relating to City Vybez, and is employed full-time by Vendoir.

Investor Perks

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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 Vendoir has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 30 August 2023 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 £2,957,184

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

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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

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.

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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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