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Evvnt

Platform:
Crowdcube
Stage:
Expansion
Industry:
Business Services
Location:
UK - London
Date Rated:
24/08/17
Raise:
£250,000
Equity:
3.23%
Valuation (Pre Money):
£7,489,938
Industry: Business Services
Location: UK - London
Platform: Crowdcube
£250,000 Expansion
Valuation: £7,739,938
Date Rated: 22/08/17

MANAGEMENT

PRODUCT

INVESTMENT
Tax Status: EIS

Business Summary

Evvnt is a marketing platform that enables clients to fill their events utilising a broad range of listing sites on the web to reach as wide an online presence as possible and track the impact across multiple channels from one platform. Evvnt has supplied its service in over 120 countries and promoted over 137k events. This round of investment will be used to fund further product development and the expansion to the USA.

Financial Overview

Date (y/e) Dec-17 Dec-18 Dec-19 Dec-20
Sales Dec-17£1,044,741 Dec-18£3,206,144 Dec-19£8,022,357 Dec-20£16,062,613
Gross Profit Dec-17£867,093 Dec-18£2,640,901 Dec-19£6,730,440 Dec-20£13,585,369
GP as % sales Dec-1783% Dec-1882% Dec-1984% Dec-2085%
Overheads Dec-17£1,032,812 Dec-18£1,845,052 Dec-19£2,166,128 Dec-20£2,567,955
Operating Profit Dec-17-£165,719 Dec-18£795,849 Dec-19£4,564,312 Dec-20£11,017,414
OP as % sales Dec-17-16% Dec-1825% Dec-1957% Dec-2069%
Closing Cash Dec-17£7,405 Dec-18£555,900 Dec-19£4,060,437 Dec-20£12,706,101

Note: This financial information has been sourced from the company on 22/08/2017. Financial data is NOT verified by Wheatfromchaff Ltd.
83%
SKILLS:
EXPERIENCE:
COMMITMENT:
The founders have formed a complete management team with adequate complementary skills to develop the product and scale the business.
The Founder has been through this growth stage before achieving an exit and has significant industry knowledge. He is also supported by a team with extensive commercial knowledge.
The Founder has invested several years into the business; in that time, he has built and launched the product and assembled the management team.
73%
MARKET:
PRODUCT:
COMPETITION:
Given the expenditure on events marketing, Evvnt's addressable market is worth over £600m but the intended expansion in the US will increase this to over £8bn.
The company has already achieved significant commercial traction with over 24k users and only in the last year over 60k events were promoted but also strong partnerships have been secured.
The competitive analysis has not been provided. However, the company's product seems unique and could gain rapidly market share if well-funded players don't develop a similar tool.
73%
PROFITABILITY:
CASHFLOW:
RETURNS:
The forecast has sensible growth assumptions, although it will be challenging to increase revenue with a limited marketing budget. However, healthy profit margins are expected.
Evvnt is already close to the profitable stage, therefore this funding round will provide enough cash with sufficient headroom to achieve break-even.
If the team can deliver the plan, investors in this round should not expect less than good returns and all shareholders will have the same rights.


Conclusion

Evvnt may be a good opportunity for investors, especially if they understand the sector. The company could enjoy strong profit margins if the team can deliver these sales projections and maintain low overheads. But there is a challenge in the form of the intended expansion which may need a wider marketing budget and stronger staff support.

That being said, Evvnt is close to being profitable and a more modest growth could still provide investors a reasonable return if the exit is finally achieved.

Related Links

Crowdcube Pitch

www.evvnt.com

 

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The Ratings we publish have been approved and issued at Financial Promotions in the United Kingdom by Wheatfromchaff in the United Kingdom who is Authorised and Regulated by the Financial Conduct Authority FRN: 751017. Wheatfromchaff Limited registered office is Kilver Court, Kilver Street, Shepton Mallet, Somerset, BA4 5NF and telephone number +44 (0) 1749 347 577. Telephone calls may be recorded. VAT No: 214 0196 49

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