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StonePay

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StonePay is an app for building and sharing your B2B Business Reputation. A new way to trust each other.

108%
 - 
Funded 3 May 2022
£300,000 target
£325,429 from 135 investors
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Business overview

Location London, United Kingdom
Social media
Website stonepay.co.uk
Sectors Finance & Payments Digital B2B
Company number 12203188
Incorporation date 12 Sep 2019
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Investment summary

Type Equity
Valuation (pre-money) £5.9M
Equity offered 5.22%
Tax relief

EIS

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Business highlights

  • Our algorithm for reputation rating is based on community inputs
  • Viral process, gamification, and incentives for explosive growth
  • Freemium>Premium to hook the market for serious revenue traction
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Key features

  • Secondary Market
  • Nominee investment min. £11.80 +

Idea

Introduction

B2B trading is a huge and fast-growing market, several times bigger than B2C. In B2B a significant number of transactions are settled with payments scheduled over time.

For this reason, most business persons all around the world every day has to face two fundamental questions:

-Can I trust this client?

-Can I be certain that I will be paid on time?

Dealing with late payments is a problem in search of a solution. What's more, there are few incentives to respect payment terms as late-payment charges are rarely enforced in practise.
We address that problem!

The paradigm today is to rely on “Credit Scores” provided and controlled by credit bureau companies such as Experian, Equifax and Dun & Bradstreet.

We propose a new paradigm: the “reputation score”.

Think of StonePay as the Tripadvisor for businesses, where your reputation matters!

You can build your business’ reputation or evaluate your client’s reputation based on virtuous payment habits, validated by the supply-chain community.

Substantial accomplishments to date

We were founded in 2019, and got to work on the coding.

Since September 2021 we have a fully operational MVP of the app available on Android Testmode and iOS Testflight mode and the cloud-based desktop version.

We are now missing the APIs for accounting software integration, such as Quickbooks and Xero. This is what we are raising funds for, so the app can easily access their millions of B2B users.

The company intends to launch the StonePay Freemium App as soon as we have these APIs up and running.

Please see below our historical development timeline, showing the company’s achievements to date.

Monetisation strategy

StonePay benefits from the network it creates, gaining additional value as more people use it.

In time, StonePay aims to achieve multiple revenue streams through offering business services.

- StonePay partners to pay bounties for services offered to Freemium and Premium App users. The Premium App is expected to be released in 2023.

- StonePay to receive monthly subscription fees from Premium App users for additional business services

- Stonepay to receive additional fees from Premium App users for branding opportunities

- StonePay to receive additional fees from Premium App users for sophisticated reporting capabilities

- After a certain ceiling, StonePay plans to also receive transaction fees from Premium App users based on:
- cap the number of monthly invoices
- percentage of total invoice value over a specific period
- improvement in the payment cycle

Use of proceeds

The company has three main objectives to accomplish with the proceeds of this campaign:

(1) To build-out the team by adding a Business Development Manager and a CTO.

(2) To develop the APIs for Xero and Quickbooks.

(3) To launch the UK marketing campaign in Q3 2022 for the Freemium App.

Key Information

Debt

The company currently has a non interest bearing £50K loan from Seed Partners.

This will be repayable from revenue pending board approval. No instalment arrangement has currently been agreed.

Funds from this campaign will not be used to repay this loan.

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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

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 £5,900,000

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

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.

Find out more

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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