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Ferris

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Ferris is here to inspire consumers to reduce waste by making the circular economy fun and rewarding.

227%
 - 
Funded 25 Jan 2022
£70,000 target
£178,060 from 277 investors
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Business overview

Location London, United Kingdom
Social media
Website ferrisapp.co
Sectors Home & Personal Digital Mixed B2B/B2C
Company number 13142206
Incorporation date 18 Jan 2021
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Investment summary

Type Equity
Valuation (pre-money) £1.6M
Equity offered 9.06%
Share price £10
Tax relief

SEIS

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Business highlights

  • Winner of £20k Climate Innovation Grant from Imperial College
  • 6k monthly sessions & 2k users offering sofas, clothes & more
  • Founders with 20+ years experience in growing digital businesses
  • Aim to save 3.3 million km worth of car journey emissions by 2024
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.00 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 277
  • Discussion
  • Documents

Idea

Introduction

Every year, millions of household items are going to waste, and it's no wonder- getting rid of stuff sustainably isn't easy.

If we extended the useful lifespan of half of our clothing by just 9 months, we could reduce the carbon impact of the fashion industry by 27%! Given fashion/textiles contribute 10% of all global emissions, that’s one big step in the right direction.

Ferris is the zero waste app for giving and getting stuff for free. We exist to inspire and motivate consumers to reduce waste through giving. We want to make the circular economy fun and rewarding through gamification.

Users can register to post unwanted household items, or to take posted items. All items must be offered for free. Our app is designed for ease of use, so that anyone can post or request items quickly and safely. It takes 30 secs to post something, and less to request an item - three clicks!

Join our movement and help us save millions of household items from landfill. Goodbye landfill - hello Planet!

Substantial accomplishments to date

We have over 2,000 registered users giving and getting once-loved items through the app - from minimal marketing spend.

We have seen a huge range of items given away including bikes, pianos, designer sofas and even a caravan(!) all saved from landfill.

Affiliate partners agreed in advance of gamification feature launch include Planet Organic, Planty and Ethical Superstore.

Monetisation strategy

We will drive revenue by enabling advertising & affiliates, subscriptions and waste premium add-ons on the app in the first phase of monetisation.

We will build a programmatic advertising capability to enable thousands of green businesses who want to connect with our audience. Advertising monetisation is Phil’s bread and butter. With Phil’s experience and contacts, we aim for advertising to be low-cost and relatively quick to enable.

We will look to enhance our users’ experience on Ferris with some exciting subscription propositions that we have lined up. Nick has worked with NowTV and Sky most recently to implement subscription propositions that drive results.

Finally, premium add-ons will also enhance smaller parts of the user experience. Principally we are looking at waste disposal - users will be offered the opportunity to have the item taken away and upcycled at a fee.

The founders have spent 20+ years managing these revenue streams for leading companies in the UK and Europe.

Use of proceeds

Marketing - we will scale up current digital marketing channels that has driven a sustainable return for us to date. We have a formula that works, and we will be enhancing this with press support and more social media activity.

Technology - we have already invested a lot into our platform, including the design concepts for our gamification solution. We have costed up and scoped out our product roadmap which includes app design enhancements, more trigger marketing capabilities and our gamification capabilities.

People - we will ensure we have expert support on the community-building and digital marketing fronts which will be key to ensuring we hit business KPIs

Key Information

Tax relief

The company has £61,250 of SEIS allocation remaining. The first £150,000 invested into this campaign will be eligible for SEIS, and investments above this will be eligible for EIS.

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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

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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 £1,600,000

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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