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Blind Cupid

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An intelligent matchmaker that connects compatible people in any app or place.

167%
 - 
Funded 23 Jun 2022
£250,003 target
£418,772 from 81 investors
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Business overview

Location London, United Kingdom
Social media
Website www.blindcupid.co.uk
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 12065615
Incorporation date 24 Jun 2019
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Investment summary

Type Equity
Valuation (pre-money) £5M
Equity offered 7.70%
Tax relief

EIS

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Business highlights

  • Technology which can power any dating app (B2B) + our own app (B2C)
  • Market worth $8.9bn ($11.5bn by 2026); 83.5% increase in users by 2026 (758.1m)
  • 90% had better dates and 80% got the relationship they wanted
  • Significant capital raised by team of experts
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Key features

  • Secondary Market
  • Seedrs nominee min. £13.41 +

Idea

Introduction

Our matchmaking technology can power the whole global dating market ($8.9bn; $11.5bn by 2026), and beyond.

Our tech saves people time, money and heartache because there was no reliable way, until now, for dating app users to know how compatible a person is in all the key make-or-break areas, inc: 'how' two people think and their attitudes towards love, sex, money and more.

It’s a costly problem…

• Men spend £3,807 on dating and go on 36 dates each year
• Women spend £2,569 on dating 24 men and still fail to find love
• According to our research, singles spend 82 hours to go on dates each year (including travelling)
• The average singleton spends 10 hours per week on dating apps
• People spend £40,406 getting married and divorced (excluding settlements)

… that Blind Cupid can solve.

Blind Cupid works with any dating app so members get the chance to meet the most compatible people in any app! We also facilitate highly compatible in-app matching within Blind Cupid. Members simply share their Cupid link (to their BC profile) with matches in dating apps, and we do the rest. We are also planning API integration into other dating apps.

We’re becoming the way single people make decisions about who to their spend time and life with.

Substantial accomplishments to date

Our architecture enables a capital efficient, market re-defining, enduring business:

Blind Cupid accesses all 413 million online dating customers (758.1m by 2026) without needing to tempt them from the apps they already use, because our technology works inside of these apps. Compatibility detection is designed to improve over time, on an increasing number of parameters.

Rather than compete with dating apps for their users, our automated, scalable technology lets these apps focus on features and market positioning, whilst we can provide the whole market with the compatibility technology dating apps need and their users want.

It means two users of dating app Hinge could see how compatible they are, and we can also connect a user of Hinge and a user of Bumble in our own app if they’re compatible. Our innovative approach opens up the whole global market, creates B2C and B2B revenue streams, is capital efficient, avoids barriers to entry and gets members the best results.

Members love our product because it gets results:

• 100% of members chose to get Cupid Scores with people from Hinge and Bumble, when we piloted the feature; this means we exponentially grow with no capital cost

• 90% saved time and money and experienced deeper connections on their dates

• 75% said Cupid conversations help them talk to people more deeply than normal

• 80% of members got the relationship they wanted when we launch our pilot

Monetisation strategy

B2C model:
We demonstrate value in the first 3-free interactions. Members then can pay either for interactions (to interact with someone they’re fundamentally compatible with on Blind Cupid, or to use their Cupid link in another app to know whether they are compatible) or subscription plans (unlimited interactions + premium content and events).

People pay for a member subscription or interaction-based plan

Subscriptions (fixed term for a fixed price):
Lifetime £149.99
6 months £89.99 (£15 p/m)
3 months = £59.99 (£20 p/m)
1 month = £29.99.

Interaction plans:
30 for £39.99 (£1.33 each)
20 for £29.99 (£1.50 each)
10 for £19.99 (£1.99 each)

Unit economics:

• Forecasted weighted average customer lifetime value £28.59

• Average customer/member acquisition cost £2

• Forecasted average customer contribution £26.59

High cash contribution and payment in advance means minimal working capital is needed.

B2B API revenue – we are currently in discussions with other dating apps for revenue-sharing deals whereby we integrate our technology into theirs.

Market Opportunity:

• Global dating app users: 413m (2022) and 758.1m by 2026.

• Global online dating revenue: $8.9bn in 2022 with CAGR of 6.38% ($11.5bn by 2026)

• UK market: 13m users by 2026 (10m in 2022)

• UK market: £206m annually, CAGR of 2.60%

Use of proceeds

We could grow from operating cashflows because the business generates cash efficiently.

What your investment means is:

• Cupid link, handle and QR code sharing for Cupid Scores ‘becoming the new normal’

• Accelerated revenue growth and market penetration

• Faster international growth in international markets (a West and East coast USA focus)

• Implementation of further artificial intelligence into the core product to enhance the product

• Further API development so our technology can be integrated into the backend of dating apps

Capital allocation by category:

• Hiring (Product & Marketing) - 50%

• Market Expansion and Launches – 45%

• Machine Learning Related Patents – 5%

It is projected that there will be an 83.5% increase in dating app users by 2026 from now (2022). With your investment, we can be at the centre of this global growth. In every app and country in the world, helping people make better decisions about who to spend their time and lives with.

Join us, now!

Key Information

Debt

The company has the following outstanding loans: £50,000 Bounce Back Loan from Royal Bank of Scotland at an interest rate of 2.5% per annum. The loan is to be repaid in monthly installments with the final repayment by 2026.

The funds raised from this investment round will not be used to repay these loans.

Tax Relief

The company has £45,114 of SEIS allocation remaining. The first £45,114 invested into this campaign will be eligible for SEIS, and investments above this will be eligible for EIS.

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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.

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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 £5,007,321

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.

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Equity Offered

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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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Payment options

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Business Involvement

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Payment options

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Drawdowns

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