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Drop Wine App

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Drop is a tech-enabled on-demand virtual wine cellar - great quality wine to your doorstep within 1 hour.

110%
 - 
19 days left
£300,002 target
£332,202 from 301 investors
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Business overview

Location London, United Kingdom
Social media
Website dropwine.co.uk
Sectors Food & Beverage Mixed Digital/Non-Digital B2C
Company number 10519028
Incorporation date 9 Dec 2016
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Investment summary

Type Equity
Valuation (pre-money) £7.2M
Equity offered 4.40%
Tax relief

EIS

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Business highlights

  • Over 25,000 orders since launch
  • Average basket grown from £15 to £88 (2016 to 2020)
  • 2020 revenue doubling year on year
  • 5,000+ customers reached daily via social and email comms
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.16 +
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  • Idea
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  • Key Information
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  • Investors 301
  • Discussion
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Idea

Introduction

Drop is an on-demand virtual wine cellar, expertly curated and available to your doorstep within 1 hour.

Over 50% of the UK admit to feeling overwhelmed and frustrated when it comes to choosing a wine, and with 25% of the UK’s 28 million regular wine drinkers now buying online, they are demanding the speed and convenience they are accustomed to in all aspects of their lives.

Whilst food delivery giants are starting to fill the wine void, it is at the sacrifice of quality and customer intimacy. Simultaneously credible wine merchants are lagging in technology.

Drop was founded by Ian Campbell and Will Palmer, successful restaurateurs and wine enthusiasts, to fill this growing market gap.

With Drop the right wine finds you. A powerful feature-rich APP helps you choose your wine without being overwhelmed or confused, combined with the ultimate of delivery convenience.

We aim to be the UK's leading virtual wine cellar - to your doorstep within 1 hour.

Monetisation strategy

Drop is a proven model and we now look to benefit from scaling the business from our current single site to a national footprint of over 100 distribution points over the next 5 years.

We aim to achieve this through:

• Network Expansion

Leveraging our tech we will offer the 1-hour delivery window to customers across the country via 2 fulfilment strategies:

o Franchises - Drop branded execution, local fulfilment, wine retailing and bar sales.

o Logistics hubs - a pure digital fulfilment, supporting a D2C model.

• Additional Tech Development

o A feature-rich virtual wine cellar experience.

o AI interpretation of customer buying needs and enhanced CX via machine learning.

• Upweighted Digital Marketing

o Our current customer base has been acquired organically with limited marketing. A marketing strategy has been designed to drive customer acquisition in line with regional growth.

• Additional Revenue Streams

o Eg. alcohol category expansion and subscription models via our Tech Platform.

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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.

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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 £7,219,036

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