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Endlesss

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Live Multiplayer Music Making

134%
 - 
Funded 17 Aug 2021
£300,017 target
£405,503 from 197 investors
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Business overview

Location London, United Kingdom
Social media
Website www.endlesss.fm
Sectors SaaS/PaaS Digital B2C
Company number 10565641
Incorporation date 16 Jan 2017
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Investment summary

Type Equity
Valuation (pre-money) £5.5M
Equity offered 6.86%
Share price £33.35
Tax relief

EIS

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Business highlights

  • Monthly sign-ups have grown 3x in the last year
  • Over 9,500 monthly active users across the platform
  • Over 2.6 million Rifffs created on the platform in the last year
  • 7th most successful software Kickstarter
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Key features

  • Secondary Market
  • Seedrs nominee min. £33.35 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 197
  • Discussion
  • Documents

Idea

Introduction

Today, more people than ever are making music. In 2018, Spotify was home to three million creators. Just two years later that number exploded to eight million, with many more releasing on other platforms.

But creating and sharing a piece of music is a long and lonely process that takes days or months, requires multiple different apps and services, and with no guarantee those songs will get heard.

We founded Endlesss to solve this problem.

Endlesss is a cloud-connected mobile and desktop app that turns music creation into a live, collaborative social event where musicians and fans interact in real-time from anywhere in the world.

Endlesss empowers beginners, hobbyists and Grammy-winners alike to make music anywhere – on their own, or in jams with friends and strangers from all over the world that anyone can tune into.

Substantial accomplishments to date

Over the past 18 months we've hit numerous milestones:

- 3x monthly sign-ups in the last year with over 9,000 sign-ups in May 2021
- Over 9,500 monthly active users across the platform
- Global community across 100+ countries
- Over 2.6 million Rifffs created on the platform in the last year
- Over 40,000 Jams created in the last year
- Over 600 monthly subscribers
- 7th most successful software Kickstarter
- Over £16K in revenue from the sale of our desktop app in the first month*

We’ve also had much critical acclaim from within the music industry and beyond:

After building out a successful creation tool, we are ready to start the next chapter of growth for Endlesss and are excited to give you an opportunity to join our journey.

With your funding we will be building social features into our platform which will empower creators to build closer relationships with their peers and followers and help us accelerate growth and user retention.

*based on unaudited management accounts

Monetisation strategy

The music creation software market is expected to grow to $1.86 billion by 2027, up from $884 million in 2020. Streaming service subscribers grew rapidly from 305 million in 2019 to 443 million at the end of 2020, reaching $13.8Bn annual global revenue.

The combination of these two rapidly-growing markets as well as the emerging direct-to-fan sector creates a significant opportunity for Endlesss to provide a unique end-to-end solution for music creation, sharing, discovery and listening.

Today we generate revenue through a £4.49 freemium subscription in our mobile app and a £79 introductory discount perpetual license for our MacOS app.

In 2022 we plan to launch a platform-wide subscription covering both our mobile and desktop apps, offering creative content and power-user features. As we expand our social features we will focus on paid and free user retention and subscription conversion as our key metrics.

Use of proceeds

- Team Growth: We will grow the team from four full-time employees to eight, building out our development team to be able to build and test new features and experiences.

- Feature Development: Focus on social features to increase user retention and lifetime value.

- Marketing Spend : Grow awareness and engagement by pushing on our performance marketing spend

- Research & Development : R&D into future technologies to build out decentralised creator marketplaces for our community to create and trade digital goods and services on the platform.

Key Information

Outstanding debt

Please note the business has the following debt obligations outstanding.

1)
Lender: Tim Exile Ltd
Balance: £73,600.00
Interest: 0%
Repayment plan: As cashflow allows

2)
Lender: HSBC- Coronavirus bounce back loan
Balance £43,587.37
Interest: 2.5%
Repayment plan: 5 years, ending June 2026, £798.63 per month

Please note, funds raised as part of this round will not be used to repay outstanding debt.

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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

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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 £5,498,581

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).

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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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