Close

Jump to:

  • Navigation
  • Content
  • Footer
Peckwater Brands hero image

Peckwater Brands

Follow

Virtual restaurant brands, making food delivery a success for local kitchens

100%
 - 
Funded 5 Sep 2022
£14,650,007 target
£15,020,022 from 238 investors
More
Less

Business overview

Location London, United Kingdom
Social media
Website www.peckwaterbrands.com/
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 12284429
Incorporation date 28 Oct 2019
More
Less

Investment summary

Type Equity
Valuation (pre-money) £50M
Equity offered 22.78%
Share price £28.93
Tax relief N/A
More
Less

Business highlights

  • Backed by UK's largest pub group & SoftBank Investments
  • Live in three countries: UK, USA, and UAE
  • £10m of Consumer Sales made in first 2 years*
  • 30% month-on-month growth since last Seedrs Round*
More
Less

Key features

  • Secondary Market
  • Seedrs nominee min. £28.93 +
  • Direct investment min. £100,000.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 238
  • Discussion
  • Documents

Idea

Introduction

Peckwater is a platform helping existing kitchen operators make a success of food delivery.

Running a hospitality business is expensive, and most of the costs are fixed. High street rents, rates, and staff need paying, no matter how many diners visit.

Delivery is an ever-increasing part of any site's revenue mix - and in a ferociously competitive market it's vital to get it right. We work with kitchen operators to make sure they do.

We help restaurant partners use their existing staff and kitchen capacity better. From software to identify operating and menu improvements which help a restaurant sell more of their own products, to virtual brands that allow a restaurant to offer customers in their local area a broader mix of cuisine types.

This helps their business thrive, all whilst giving choice to consumers.

Substantial accomplishments to date

Our first partner switched on for business in June 2020. In those two years we've:

- Built the largest estate of virtual brands in the UK of nearly 200 contracted sites

- Opened sites in the US and UAE

- Developed our proprietary operating platform

- Deployed 15+ fully developed food concepts

- Investment from Stonegate Group - the UK's largest hospitality estate of 4,800 pubs, following a successful pilot

- Generated huge returns for our partners - £12k/month on average - that are transformational to their businesses (March-May 2022)

*Source: unaudited management accounts

Monetisation strategy

Peckwater has 3 products. All are geared towards helping kitchen operators maximise their returns from delivery. Our product ladder lets kitchen operators engage with food delivery to the level they want; from optimising a small portion of an existing business, up to a complete gearing of their business to servicing delivery demand.

SaaS - an operating platform which interprets their data to offer actionable insights for increasing sales

Virtual brands - plug-and-play concepts, to operate alongside an existing business and maximise the throughput of their kitchen

High Street Dark Kitchen - a multi-concept delivery deployment, allowing the operator to take on multiple food categories from one location.

We’re continuing to build out our offering to fulfil our proposition to our partners of “you run the kitchen, we do the rest”.

Use of proceeds

UK Coverage

We’re already the leader in the UK virtual brands market, with 175 outlets from Aberdeen to Plymouth. Watch this space… we intend to be the largest kitchen network of any kind in the UK within 2 years.

Technology

We’re building an operating platform to make sure our restaurant partners succeed in the delivery market. From machine learning-generated menus, to localised operating benchmarks & pricing, our aim is for partners to have the tools to delight consumers every time. This will ensure they build market-leading delivery businesses!

International Expansion

We’ve always believed that our platform can work wherever there are customers ordering food delivery. We’ve already established a presence in the US, and we’re now set to make waves across Europe - with confirmed launches in the very near future.


(The Company received £3,000,012.07 of the investment reflected in this campaign in the 5 months before the launch of the investment round on Seedrs, and the Company has started putting this to use in line with the use of proceeds set out in the campaign.)

Key Information

Share Classes

The company currently has 4 classes of shares, A2 Ordinary Shares, A Ordinary Shares, Ordinary Shares and B Ordinary (Non-Voting).

The rights attached to the share classes are as follows:

- A2 Ordinary and A Ordinary shares: full voting rights and 1x non-participating preference on liquidation and exit. The A2 Ordinary preference ranks above the A Ordinary preference.

- Ordinary shares: full voting rights, no exit or liquidation preference.

- B Ordinary (Non-Voting): no voting rights, no exit or liquidation preference.

All investors in the round are receiving A2 Ordinary Shares.

Co-Investor Rights

The company has entered into an additional commercial arrangement with one of the co-investors of the round (Stonegate Group) whereby Stonegate, upon a liquidation or exit, shall be deemed to hold additional A2 Ordinary Shares (representing up to 22.8% of the Fully Diluted Share Capital of the Company) subject to strict performance metrics. These include the number of sites introduced to Peckwater by Stonegate and the performance level of such sites.

Please note, given the nature of these rights, they have not been factored into the pre-money calculation of the round but would (if achieved by Stonegate) represent future dilution to investors on an exit or liquidation.

Group Structure

Investors in this round are investing in and will become shareholders of Peckwater Investments LTD (12284429). This is the holding company for the group.

The group structure is as follows:

Open an account to get access to the team members of Peckwater Brands

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

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

Share on:

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 £49,991,995

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.

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.

ContinueCancel