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Bidvine

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We make hiring local, trusted service professionals ridiculously simple.

100%
 - 
Funded 16 Mar 2020
£2,750,002 target
£2,764,793 from 127 investors
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Business overview

Location London, United Kingdom
Social media
Website bidvine.com
Sectors Advertising & Marketing Digital Mixed B2B/B2C
Company number 09242142
Incorporation date 30 Sep 2014
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Investment summary

Type Equity
Valuation (pre-money) £10.1M
Equity offered 21.56%
Tax relief

EIS

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Business highlights

  • £40m+ in leads generated for professionals since launch
  • 100,000 registered professionals
  • 300+ services
  • Positive unit economics
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Key features

  • Opted out from Secondary Market
  • Seedrs nominee min. £11.96 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 127
  • Discussion
  • Documents

Idea

Introduction

Bidvine is a service marketplace helping customers find and hire professionals for services relating to health & wellness, home improvement, events & photography, learning, and more. Customers submit a request and get bids from interested and available professionals.

For professionals, Bidvine is an online marketing platform enabling quick connection with relevant customers. By capturing granular service and travel preferences, availability, and budget, Bidvine matches professionals with their target customers. The matching algorithm leverages machine learning to optimise for professionals being hired through the platform.

Intended impact

We believe that the traditional methods for local service professionals and consumers finding one another can be extremely inefficient.

For consumers, asking friends and family members and searching directories can take hours to find someone right for the job. At Bidvine, a customer can submit a request in two minutes and immediately be matched with professionals that are available and interested in the job.

For professionals, they are looking for new customers and putting up flyers on notice boards isn't cutting it anymore. Online directories can produce leads that aren't right for their business because of the type of service the customer is looking for, their location, or their availability. Some of the mainstream ad platforms can be just too complicated and costly. We make it easy for pros to connect with relevant prospects.

Our mission: by 2025 we want to help 250,000 local businesses to grow by £1 billion and add 200,00 jobs.

Substantial accomplishments to date

Bidvine first launched in 2015 and we've been growing ever since. We now offer over 300 services and have more than 100,000 registered professionals across the UK.

Services Evolution
In developing the Bidvine platform, over the last four years, we have introduced product features that offer individual benefits and that work together to deliver an exceptional experience.

BidMatch: Adwords for local services
Throughout our journey, one of our biggest accomplishments was the introduction of BidMatch. This allows professionals to bid automatically on requests that match their preferences, availability, and budget. This enables them to focus more on billable hours and less on prospecting new customers.

Marketing Efficiency:
We're constantly focused on growing efficiency. Currently, we see positive revenue contribution on a customer's first request. In addition, the lifetime value of a professional on bidvine is 20x their acquisition cost.

Monetisation strategy

Primary revenue stream (Professionals)
Professionals on Bidvine pay a cost per introduction to prospective customers (that match their preferences). When sending a bid manually, professionals pay a fee per bid. When bidding automatically, through BidMatch, they pay a fee when a customer contacts them after receiving their bid.

Subscription revenue (Professionals)
Some professionals opt for a monthly subscription on Bidvine. Subscriptions provide professionals with some additional features, discounts on leads/contacts, and in some cases a monthly credit allocation.

Request Promotion (Consumers)
Although Bidvine is free for customers overall, we have recently introduced a feature enabling customers to boost their request for a small fee.

Use of proceeds

The funds raised in this round will be used to continue to develop the UK marketplace, expanding into another international market and the introduction of additional tools for service professionals.

Key Information

Share classes

The company currently has 4 classes of shares, Preference, B Ordinary, Ordinary, and Growth Shares. All investors in this round, including Seedrs investors, will be receiving B Ordinary shares.

The rights attached to the share classes are as follows:

Preference shares
- Full voting rights
- Liquidation preference over ordinary shareholders on a liquidation or exit (along with B ordinary shareholders): shareholders will first receive their initial investment amount (or a pro rata portion if insufficient proceeds available) before the remaining proceeds are distributed between all shareholders pro-rata.

B Ordinary shares
- Full voting rights
- Liquidation preference over ordinary shareholders on a liquidation or exit (along with preference shareholders): shareholders will first receive their initial investment amount (or a pro-rata portion if insufficient proceeds are available) before the remaining proceeds are distributed between all shareholders pro-rata.

Ordinary shares
- Full voting rights
- No liquidation preference

Growth Shares
- The company has the option to issue Growth Shares to management in the future. These hold a liquidation preference ahead of Preference and B Ordinary Shares
- No voting rights

Secondary Market

Please note, shares in this company are not currently eligible for trading on the Seedrs Secondary Market as Seedrs investors first invested in the company through a Seedrs' fund. This is a limitation Seedrs is working to remove, at which time shares in the Company will become eligible for the Seedrs Secondary Market

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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.

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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

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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 ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. 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 Seedrs 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 Seedrs 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.

Seedrs does not make investment recommendations to you. No communications from Seedrs, 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. Seedrs 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 Seedrs, you should consult a professional adviser.

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Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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For information on how Seedrs uses your personal data, please review our Privacy Notice.
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Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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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.
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 rounded from £10,059,927

Pitch type

There are 4 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Secondary

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.

Seedrs nominee

This shareholding type is available with this raise.

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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 shareholding type is available and the minimum investment required to select it.

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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 or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.