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Pleasy Play

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Intimacy app for couples combined with a subscription box to make it date night, every night.

118%
 - 
Funded 13 Jan 2021
€250,000 target
€296,420 from 395 investors
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Business overview

Location Braga, Portugal
Social media
Website pleasyplay.com
Sectors Home & Personal Mixed Digital/Non-Digital B2C
Company number 516119478
Incorporation date 21 Aug 2020
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Investment summary

Type Convertible
Discount 20%
Share price N/A
Tax relief N/A
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Business highlights

  • Global sexual wellness market to hit $39bn by 2024
  • Backed by VC Indico and Google for Start-ups Accelerator
  • Portuguese trial showed 75% said relationships improved
  • UK in the top 3 countries for growth at 43%
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Key features

  • Secondary Market
  • Seedrs nominee min. €10.00 +
  • Idea
  • Investor Perks
  • Key Information
  • Team
  • Updates
  • Investors 395
  • Discussion
  • Documents

Learn more about convertible campaigns.

Idea

Introduction

Remember the fiery days of a new relationship where nothing gets in the way of passion and romance? As time goes on, however, life gets in the way – it’s easy to get too comfortable with your partner at the expense of intimacy.

We aim to make the honeymoon period last forever, revolutionise sexual wellness, and become the only brand couples need to make intimacy effortless.

Pleasy lets couples rekindle and maintain passion in their relationships by giving them everything they need to be more intimate in a fun, engaging & accessible way.

Our interactive, app-based service sets fun, personalised challenges. This is combined with a bi-monthly box of intimate items delivered right to your doorstep to take your relationship to the next level.

The entire Pleasy experience is based on each couple’s preferences – from the nature of the challenges, to the items in each box. We broaden horizons, encourage experimentation, and help couples to discuss and explore intimacy in a relaxed environment.

Substantial accomplishments to date

Our Portuguese trial achieved a 90% retain rate and 9 months LTV (numbers were made in 1 year MVP bootstrapped €22/month).

Our UK website is live and ready to be marketed.

We're backed by VCs and a large Angel investor. Indico Capital Partners are cornerstone investors and Pleasy are on their accelerator program in partnership with Google for Startups.

Monetisation strategy

We offer a paid monthly subscription of £29.90, which includes full access to our app and a box of intimate products delivered every two months.

The UK, like Germany and France, are the leading growth countries for intimate products (growing at 43%, 37% & 47% respectively). We’re preparing to launch in these and other European countries within 12 months.

Initially catering to hetrosexual couples, we’ll launch a dedicated service for the LGBTQ+ community in the first quarter of 2021. We’re also lining up exciting themed scenarios for the future.

Use of proceeds

Pleasy’s website is already live, and we’re now gearing up to launch in the UK.

We want everyone to see for themselves what Pleasy can do for their relationship, which is why we offer a 15-day free trial. Our subscribers will enjoy the full Pleasy experience, complete with our intimate boxes.

To market, we'll use a paid and organic social strategy, and influencer engagement.

With this round of investment, we’ll be able to launch in the UK, focusing on customer acquisition and ensuring that we provide the best experience possible.

The breakdown will be as follows: 55% Marketing 40% Product Development 5% Accounting, Legal, Other

Investor Perks

All investments
Two weeks free trial of the Pleasy Play app

£1,100 - £2,199
Two month's membership, including the Pleasy Play app and one box

£2,200 - £4,399
Four month's membership, including the Pleasy Play app and two boxes

£4,400 - £9,999
Six month's membership, including the Pleasy Play app and three boxes

£10,000+
Six month's membership, three boxes, and a surprise gift

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key Information

Key Terms

This investment round is being raised by way of a convertible equity investment structure, in this case an "advanced subscription agreement".
The key terms that apply to the Company’s advanced subscription agreement are set out below. See also attached Key Terms document for further details.
• Discount: 20%.
• Valuation cap: €1,666,666.66
• Conversion triggered by a Qualifying Equity Fundraise – defined as the Company raising investment capital of at least €400,000 from one transaction or a series of transactions, in exchange for the company issuing equity, which will convert at the lower of:
- the lowest fully-diluted pre-money valuation in connection with the Qualifying Equity Fundraise, discounted by the Discount; or
- the Valuation Cap (calculated on a fully-diluted basis).
- Conversion triggered by a Liquidity Event – defined as either (i) a sale of more than 50% of the equity of the Company, (ii) a sale of the Company’s intellectual property or majority of assets and operations or (iii) an IPO, will convert at the lower of:
- the amount invested; or
- the amount payable if the instrument converted into equity at the lower of (i) the lowest fully-diluted pre-money valuation in connection with the Liquidity Event, discounted by the Discount, and (ii) the Valuation Cap (calculated on a fully diluted basis)
• Longstop Date is 21 September 2021.
• If conversion has not been triggered by the Longstop Date shares will be issued on the longstop date at the Default Valuation, which is the lower of:
- the lowest fully diluted pre-money valuation in connection with any equity issued after the date of the agreement; and
- a fully diluted pre-money valuation of €1,233,333.
- In the event of the winding up or liquidation of the company, investors will be entitled and have priority over capital stock to receive repayment of their investment.

Disclosures

The lead investor in this round is a VC firm. The Company will be using a portion of the investment from the lead investor to cover the costs of the acceleration programme of Indico and Google for Start-ups.

That the company is currently a quota company. On conversion, unless the Company converts to a Company limited by shares, investors will receive units of quota that correspond to their relevant percentage holding of the Company.

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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.

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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 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.

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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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