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UK - London
Date Rated:
Valuation (Pre Money):
Industry: Internet
Location: UK - London
Platform: Crowdcube
£500,000 Seed
Valuation: £6,501,951
Date Rated: 15/11/17



Tax Status: EIS

Business Summary

Doctaly is a health-tech company providing same day, affordable and face-to-face NHS GP appointments to patients at a convenient time and location from just £39.99. Doctaly offers a marketing, scheduling & payment service & take an average 20% commission. Doctaly has already completed a successful pilot in London. This round of investment will be used to sign up GPs, fund further product development and to strengthen the team.

Financial Overview

Date (y/e) Dec-18 Dec-19 Dec-20 Dec-21 Dec-22
Sales Dec-18£1,087,980 Dec-19£19,828,584 Dec-20£79,465,262 Dec-21£198,613,314 Dec-22£342,271,893
Gross Profit Dec-18£136,480 Dec-19£3,462,416 Dec-20£15,271,071 Dec-21£42,165,128 Dec-22£79,060,750
GP as % sales Dec-1813% Dec-1917% Dec-2019% Dec-2121% Dec-2223%
Overheads Dec-18£841,554 Dec-19£3,577,220 Dec-20£11,386,286 Dec-21£25,765,846 Dec-22£42,083,270
Operating Profit Dec-18-£776,906 Dec-19-£256,517 Dec-20£3,646,901 Dec-21£16,057,093 Dec-22£36,494,397
OP as % sales Dec-18-71% Dec-19-1% Dec-205% Dec-218% Dec-2211%
Closing Cash Dec-18£788,749 Dec-19£441,787 Dec-20£4,107,032 Dec-21£20,970,633 £62,708,690

Note: This financial information has been sourced from the company on 15/11/2017. Financial data is NOT verified by Wheatfromchaff Ltd.
The management team covers all the required roles with the right skills to both manage the company and to drive growth and this round aims to further strengthen sales and marketing expertise.
Although this is the Founder's first venture, the management team has adequate start-up experience and relevant industry knowledge with advisors providing additional support.
Existing shareholders and the Founders have invested £600k and significant time into the business and they are strongly motivated by the substantial financial rewards possible on exit.
Private General Practitioners provide around 7m consultations a year, about 3% of all GP consultations and the industry is worth over £500m.
The company has run a pilot in London with positive results, the platform is already functioning and the planned Apps could increase brand awareness and take-up rapidly.
Doctaly aims to disrupt the industry with competitive pricing and a scalable business model that could take market share rapidly if they can engage enough doctors.
The forecast seems aggressive and profit margins are low, however the business model is scalable and the large marketing spend could possibly provide the desired growth.
This round of investment will provide enough cash to support initial growth, but sensitivity analysis shows very low financial headroom to cope with any sales shortfall.
If the team deliver even half the forecast, rewarding returns are achievable on exit and the Founder has stated that any excess cash would be released to shareholders via dividends.


The company offering seems difficult to match in pricing terms for consumers but the question is if there are enough doctors willing to work at these rates - as they could not find it appealing if they can use similar platforms with higher rates. In this case the ambitious growth rates could prove unachievable.

Furthermore if the required commercial traction is not achieved, further investment will be needed, therefore investors should note that if further funds are raised, and their shares are held in the nominee account, they could miss out as the Crowdcube nominee operates pre-emption rights on a first-come, first-served basis.

Related Links

Crowdcube Pitch


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