BreezeMove is a centralised digital platform which aligns all parties in the property transaction
Business overview
Location | Liverpool, United Kingdom |
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Social media | |
Website | www.breezemove.co.uk |
Sectors | Property Digital Mixed B2B/B2C |
Company number | 12303629 |
Incorporation date | 7 Nov 2019 |
Investment summary
Business highlights
- Proven Metrics; Reducing house completions from 22 to 10 weeks
- Nominated for 9 industry awards in 21/22
- Platform is built and ready to scale
- High Profile Industry Experts on board & Experienced Founders
Key features
Idea
Introduction
BreezeMove is a PropTech platform which aligns all parties in the home moving journey from offer to completion. Our centralised platform provides live updates for a completely transparent, efficient, and faster home moving experience.
BreezeMove was created by experienced property investors after experiencing the highly frustrating, slow, opaque and archaic way in which consumers buy and sell their property. After waiting months for a completion to take place and no updates from solicitors as to where the process is up to we decided to change that.
From our inital idea in 2017 whereby we pitched to UK Government (MHCLG) we have been working closely with industry bodies to create a solution which benefits all parties in the moving process for a streamlined, efficient and accountable experience for all. Now with clients onboard and metrics in reducing completion times by up to 12 weeks we are in a position to scale the business having secured our lead investor.
Substantial accomplishments to date
- Lead Investor secured in this round.
- Won or nominated for 9 industry awards 2021/22.
- Proven metrics for reducing completion times by up to 12 weeks! (Based on industry averages).
- Two high profile NED's including Ex-Rightmove Head of Agency Sales.
- Part of 2 Government working groups around home buying and selling.
- Part of the RICS tech partner programme.
- Over 50 estate agents onboard.
- 18 solicitors onboard.
- Revenue generating with average MMR just over £1,700 July - September 2022.
- 11 new cases on average May - July 2022, 38 new cases in August 2022 alone.
- In discussions with channel partners and portals.
Monetisation strategy
Our route to market is by estate agents whereby there are over 19,000 in the UK, our platform is completely free for estate agents to use and also free for their buyer and sellers.
Our revenue is generated upon successful completion of a case in the platform whereby we charge the solicitors on both sides. As a further incentive to adopt our platform we pay the estate agent an introductory fee, along with reducing agents completion times, reducing calls to/from solicitors and clients for updates and giving their clients a better moving experience.
In 2021 alone there were 1.5m transactions in the UK. If we were able to achieve only 1% market traction, using our higher tier case revenue this would equate to a gross revenue of £9m per annum for BreezeMove.
Use of proceeds
Business Development Managers - 30%
Software Development - 28%
Digital Marketing - 12%
Trade Shows and Events - 10%
Customer Success Manager - 20%
£145,000 of the investment reflected in this campaign was received by the Company in the 6 months prior to the launch of the investment round on Seedrs and the Company has started putting this to use.
Key Information
Material Debt:
The company currently has ongoing payments for a £50K Bounce Back loan charged at 2.5% interest from Starling Bank.
The company currently has a director's loan of £85K which is interest free and will only be paid once the company is profitable and in a liquid position to enable payment and a maximum of 10% to be repaid per annum.
The funds raised in this round will not be used to repay these loans.
Share Classes:
The company currently has two classes of shares, Ordinary Shares and Ordinary A Shares. All investors in this round, including Seedrs investors, will be receiving Ordinary A Shares. Both share classes have voting and dividend rights. On a winding up, all share classes participate pro rata. On an Exit, the ordinary A shares have a 1x non-participating EIS eligible preference.
Founders Interests:
Phil Melia and Karl Winter hold several other directorships within Winter Melia Group Limited (13555673). The Company and other Companies within the group are holding Companies for properties within Phil and Karl's respective property portfolios, and are entirely separate to WM Technologies (BreezeMove).
Both Phil and Karl are committed full-time to BreezeMove, and dedicate around 2 hours a week overseeing any responsibilities related to their other directorships.
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