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HireHand

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A VC-backed platform connecting businesses and people when they need each other most.

101%
 - 
Funded 30 Oct 2019
£1,000,005 target
£1,011,505 from 278 investors
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Business overview

Location London, United Kingdom
Social media
Website www.hirehand.co.uk/
Sectors Recruitment & Procurement Digital B2B
Company number 09346046
Incorporation date 8 Nov 2014
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Investment summary

Type Equity
Valuation (pre-money) £10.6M
Equity offered 8.71%
Tax relief

EIS

Co investor Mustard Seed

Mustard Seed invests in world-class early-stage businesses that seek to generate financial and societal returns.

  • Idea
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Idea

Introduction

Shift work is sh!t work in London today.

People are being driven to the edge: unpredictable shift patterns, reduced hours, and low pay. Business owners can struggle with cost pressures, technological disruption, and business-killing rates of staff turnover.

It doesn’t have to be this way.

We’re HireHand – a labour platform that puts people first.

We get people the extra hours they need, when it suits them. We do this by matching them with business owners who need more help at busy times.

We’ve helped over 2000 people earn £3M by providing high-value support to 750 businesses owners in the London food retail sector.

We do this with our 20 factor algorithm, built by ex-SwiftKey engineers and the labour optimisation expertise of former McKinsey consultants.

We are bringing our proven solution to new markets. Next stop construction in London and Food Retail in New York.

Join Us!

Intended impact

We aim to set the standard for shift work in these disruptive times.

We provide people with flexibility and stability instead of insecurity and under-employment.

We give business owners the sustainable staffing model that otherwise eludes them.

Practically, we connect single parents - who can work in between drop off and pick up, with restaurants in London - who need an extra pair of hands during the lunch rush.

This is the future of work.

We believe that increased automation and cost pressures will not eliminate the need for human labor. It will, however, change shift patterns - leading to shorter shifts at different times over the day.

This is true today in blue collar industries (e.g. food retail and construction) and tomorrow in white collar industries (e.g. health care and professional services).

Based on our own research, we have estimated the future of these industries in the image below.

Our labour platform is built for this future - we see the scale of the opportunity as staggering.

Let’s capture it together and preserve work for future generations.

Substantial accomplishments to date

Monetisation strategy

Our simple revenue model involves charging businesses a service fee of 20% on top of the hourly rate paid to Hired Hands.

This fee equates to approximately £2/hr (£10 per shift) in the food retail sector and will increase as we aim to move into higher value industries in the next few years.

The full automation of our platform has enabled us to begin pursuing licensing opportunities in adjacent industries and geographies.

This has the potential to be high-margin revenue and allow us to “test” new sectors in a footprint-light way before building a pool of labor.

Use of proceeds

We have the right vision to preserve work for future generations. We have a proven solution. Now is the time to widen our footprint.

The money will go for additional technical talent and then to launch in London construction (scaffolding) and New York (food retail).

Join us!

Please note, the company has an outstanding loan of £47,500 with an interest rate of 5% pa. None of the funds raised will 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

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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.

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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 £10,596,427

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There are 4 types of investment pitch available on Seedrs.

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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.