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easyHire

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easyHire operates a cloud-based technology platform and franchise network for the equipment hire industry

150%
 - 
Funded 2 Sep 2021
£400,000 target
£646,820 from 710 investors
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Business overview

Location London, United Kingdom
Social media
Website www.easyhire.biz/
Sectors SaaS/PaaS Digital B2B
Company number 10754055
Incorporation date 4 May 2017
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Investment summary

Type Convertible
Discount 20%
Tax relief

EIS

Learn more about convertible campaigns.

Idea

Introduction

The go-to destination for event and construction equipment rental, backed by the founder of easyJet.com.

easyHire operates a global, fast-growing, cloud-based technology platform and franchise network for the £23 billion equipment rental industry.

Our vision is to become the world’s leading technology platform bringing equipment rental online. We aim to achieve this by providing independent rental companies a franchise model that focuses on technology, partnerships and the marketing and branding support of a huge European brand in protected territories.

✅ 90% consumer brand recognition in Europe
✅ Operating in the £23 billion European equipment rental industry
✅ Average franchise signing up for 5 years
✅ 10X client growth since 2020!

How it works:

📝We target leading rental operators within a specific region and country and receive franchise applications.

🎯We conduct a business health check with our proprietary 27-point system ensuring safety, insurance, and quality.

🤝If the business successfully passes due-diligence we sign a 5-year franchise giving them exclusivity to utilise the brand for their specific region. This means each country is divided into different regions that are awarded to different franchise operators.

Substantial accomplishments to date

This is an exclusive opportunity to invest alongside Sir Stelios Haji-Ioannou (founder of easyJet.com), Fabio Cannavale (owner of lastminute.com group), and PiLabs (Venture Capital). Here's what we've achieved so far...

🚀 Raised £2 million from leading investors.
🚀 Built a revenue-generating SaaS and franchise business.
🚀 10X client growth and 6X depot growth since 2020
🚀 Operating in the UK, Italy, and Spain
🚀 Industry-changing technology saving time and money
🚀 Built a world-class team with decades of leadership experience with global brands.
🚀 3 million pieces of inventory online.

We have brand exclusivity for the easyToolhire and easyEventhire franchises across 30 territories.

Due to COVID-19 we focused on tool and plant hire in the construction industry and within months signed our first franchises in new markets such as Italy during the Pandemic. And now are trading in the UK, Italy, and Spain.

These equipment rental franchise operators service old and new customers now under a globally recognized brand with best in class technology.

This is what some of our franchises had to say about why they chose to work with easyHire:

Our investors are successful entrepreneurs and industry experts:

Monetisation strategy

We have multiple revenue streams per franchise which are 5-year deals: setup fees, monthly franchise fees (SAAS), annual exclusivity fees and we also take % of gross sales as commission made through the platform.

Our franchisees utilise our platform and technology to bring their products online which supports both trade and the general public in terms of sales. We are launching not only tool hire but also event hire franchises and so the easyHire opportunity supports two markets via one technology platform. Sales are made and paid via the local franchise with our technology tracking the commission due to easyHire.

Use of proceeds

Our use of funds from this crowdfunding campaign is to:

1) Open up new markets.

2) invest in the product roadmap.

Key Information

ASA Term Sheet

The key terms of the ASA are set out below and should be read in conjunction with the ASA Term Sheet document attached to the Documents section of this campaign:

- Discount: 20%

- Valuation Cap & Default Valuation: £18,000,000

- Maturity Date: 7th June 2022

- Qualified Financing: equity financing raising not less than £500,000

- Conversion triggers:

(1) On Qualified Financing, the ASA will automatically convert into ordinary shares at the lower of (i) a 20% discount to the price of the Qualified Financing or (ii) the Valuation Cap.

(2) On (i) the Maturity Date, (ii) a sale of the Company or IPO, or (iii) a winding up event, the ASA convert into ordinary shares at the Default Valuation.

Outstanding debt

The company has the following outstanding loans:

£40,000 Coronavirus bounce-back loan

Lender: Lloyds bank

Interest rate: 2.5%

Repayment Date: 21/12/2023

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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

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 Convertible

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 convertible campaign allows you to invest today, with your investment converting into equity in the future, at a discount compared to other investors.

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.

Find out more

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.

Find out more

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.

Find out more

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

You are following a link outside of www.seedrs.com.

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

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