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Drinkly

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Award-winning tech platform delivering chilled beers, wines, spirits and more in 1 hour.

104%
 - 
Funded 31 Jan 2020
£250,002 target
£262,496 from 398 investors
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Business overview

Location Edinburgh, United Kingdom
Social media
Website www.drinkly.co.uk
Sectors Food & Beverage Digital Mixed B2B/B2C
Company number SC561782
Incorporation date 28 Mar 2017
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Investment summary

Type Equity
Valuation (pre-money) £3.2M
Equity offered 7.54%
Tax relief

EIS

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Business highlights

  • Since we started, our sales have increased 400%
  • Over 14,000 orders delivered in London, Edinburgh, & Glasgow
  • 2019 Online Business of the Year (Scottish SME Awards)
  • 2020 Tech Nation Top 20 Tech Startup in the UK!
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Key features

  • Secondary Market
  • Seedrs nominee min. £11.45 +
  • Pay by Bank payments not accepted

Idea

Introduction

Hi, we’re Drinkly and we’re an award-winning tech platform that delivers chilled drinks to thirsty folk in London, Edinburgh and Glasgow within 1 hour. We’re backed by some incredible entrepreneurs including BrewDog co-founder James Watt.

Pre Drinkly, you could order a takeaway online but we found we were hard pressed to find anyone to deliver a great selection of chilled drinks on demand.

Retailers come to us to sell directly to our growing user community. We have delivered over 14,000 orders to date and this year alone we've added over £110,000 in revenue to our first retail partner!

We've also worked on collaborations with global drinks brands including Heineken, Asahi, and Tito's Vodka, bringing new products to market and also gathering invaluable customer insights.

Whether you want your order immediately or later, the user journey with driver tracking is slick and easy, not to mention responsible (we’re big on Drinkaware) and secure (we’re 4.7-star rated on Trustpilot). The hardest thing is deciding what to buy!

Intended impact

Drinkly was born out of frustration; how is it that we could order a takeaway pizza, a taxi within minutes or even get a restaurant-quality meal delivered to our door and yet we found we couldn’t get our favourite bottle of sauvignon blanc delivered chilled, at the tap of a few buttons?

The UK drinks market is huge; it’s forecast to be worth £55.5 billion by 2022 with the e-commerce portion forecast to be worth £19.6 billion (growing 16% YOY).

There’s no denying that the food-delivery market is thriving. But we haven’t seen similar growth in the drinks-delivery sector, so that’s where we come in. Whether ordering a bottle of wine with your dinner, sending a gift to a friend or ordering drinks to the office we’ve got you covered.

In a world driven by technological evolution retailers are struggling to adapt, forcing closures on almost every high street. We are bringing them a brand new revenue stream and giving customers an exceptional shopping experience.

We’re enhancing an age-old industry with technology… and we’ve got bold ambitions!

Substantial accomplishments to date

Monetisation strategy

We derive revenue from 2 sources:

- We earn between 10% and 25% of each sale
- We earn revenue from drinks brands by providing marketing, data, and product testing

In addition:

- Our strategy will add a recurring revenue stream from retailers being listed on our platform.

Use of proceeds

Since we started, we've more than tripled our revenue! We're now on the cusp of a really exciting and ambitious expansion that will help Drinkly achieve our mission of becoming the market leader in drinks-on-demand delivery in the UK, but we need your support.

Here’s what we will do with the money we generate from this raise:

- Recruit and grow sales staff to further accelerate the number of retailers on our platform and our geographic coverage

- Invest in and execute our marketing strategy to fuel customer acquisition and retention

- Progress our technology to refine and optimise revenue streams

Key Information

The company has a £4,078 Director’s loan owed to the Founder. The funds raised from this investment round will not be used to repay this loan.

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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

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

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 £3,210,580

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.

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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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