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BYP Network

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We empower black professionals around the world to connect with each other and global corporations.

178%
 - 
Funded 8 Jul 2020
£500,000 target
£896,947 from 1,204 investors
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Business overview

Location London, United Kingdom
Social media
Website byp-network.com
Sectors Content & Information Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 10440856
Incorporation date 21 Oct 2016
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Investment summary

Type Equity
Valuation (pre-money) £8M
Equity offered 10.05%
Tax relief

EIS

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Business highlights

  • Over 40k members across 65 countries, and 60+ corporate partners
  • Featured in Forbes, Business Insider, BBC, Roc Nation, Guardian
  • £300k + revenue since launch in a TAM of £200bn recruitment
  • Accepted on to the London Stock Exchange Elite Program
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.40 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 1,204
  • Discussion
  • Documents

Idea

Introduction

We were created in Autumn 2016 after a culmination of black lives matter movement and Kike’s (founder of BYP Network) personal experiences. Alongside this, the UK was struggling with the highest rates of knife crime epidemic, the lack of black people in companies let alone senior positions and an inability to find positive role models outside of the entertainment industry.

From this BYP Network was created to ‘change the black narrative’ by bringing the black professional global community together to solve our own problems through economic empowerment and connectivity.

Substantial accomplishments to date

In just under 4 years BYP Network has grown from a side hustle to a 6-figure revenue generating company with over 40,000 members.

We provide services for both our members and corporate partners including: A social networking app, webinars/events, podcasts, newsletters, blogs, and a job board.

We have worked with over 60 corporate partners including Facebook, Accenture and Soho House and have been featured in publications including Forbes, BBC and Roc Nation. We have over 60,000 social media followers, 18,000 job applications through our platform and we have hosted over 5,000 members at our online/offline events.

BYP Network has won the Maserati Top 100 Most Innovative Companies and a place on The Mayor of London’s International Business Programme and London Stock Exchange Elite Program.

You can trust us:

Kike Oniwinde, is a BSc graduate from The University of Nottingham, University of Florida MSc scholar, and an ex-Great Britain junior javelin thrower. She previously worked in investment banking and a financial technology start-up before quitting to focus on BYP full-time. Kike is a Forbes 30 under 30 and World Economic Forum Global Shaper. She won three national pitch competitions including F Factor, New Entrepreneurs Foundation and Sky Women in Technology Scholarship. She credits her growth mindset for BYP’s early success.

Meera Raikundalia, is a BSc graduate from Cardiff University and alumni from the New Entrepreneurs Foundation. She has had over 6 years sales and commercial experience across different start-ups. Most notably, she was one of the first employees at Maddox Events, the UK’s fastest-growing events company which focuses on increasing diversity across several industries. Having grown up in both Kenya and North London, the BYP mission is something very close to her heart and in a short period of time Meera has been instrumental in raising £300k worth of revenue for the organisation

Monetisation strategy

Our revenue model focuses predominantly on corporate partnerships and premium memberships.

Corporations:

We charge a monthly fee of £1k - £5k for 6 months or 12 months contracts. These packages consist of pick and mix from job postings, webinars, content, and candidate shortlisting.

The monthly subscription allows us to focus on monthly recurring revenue, whereas our previous model generated £300k+ but in one-off payments. We have signed over five companies on this recent model including BNY Mellon, Morgan Stanley, Cisco, and Checkout.

Memberships:

We currently operate a freemium model on our app. This means users can download the app for free, join groups, browse & add events, and post their business.

We will be offering a £5 premium member and £10 premium business member fee that allows users to 1. Browse other users 2. Amplify their posts and 3. Post opportunities. We will also look to add extra benefits and play around with pricing.

We estimate that roughly 2% of free members will be paid (based on our own experiments). In the future, we will also include full recruitment services and advertising.

Use of proceeds

In the next 18 months, through marketing, we aim to have a user base of over 500,000 black professionals with 2% on our premium model.

With the money raised, we'll be scaling our leadership, sales, and content teams in order to better serve our community. The funds will also be spent on improving our current tech stack and cementing our place as the number one go-to platform for all things black professionals.

With tens of millions of black professionals online and over $200bn spending in the recruitment market. The potential for BYP Network to grow is undeniable and we want you to invest in order to be part of this growth.

Key Information

The company has an outstanding Bounce Back loan for £50,000. None of the funds raised will be used to repay this loan.

£100,000 of investment reflected in the campaign was received by the company in February 2020. This investment has been made at the same share price as this round.

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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

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 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.

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 £8,008,412

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.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • 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

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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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.

Learn more about Custodian here

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 is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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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, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, 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.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Warning

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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