Riversimple

Idea

Introduction

Riversimple aims to offer customers a truly affordable, hassle free, fun-to-drive eco car, delivered as a complete and cost-transparent subscription service.

Our entry vehicle, the Rasa, is a zero emission electric car, powered by hydrogen rather than batteries. Our first production run is well underway with Rasas destined for a 12 month trial with the public.

We plan to follow the Rasa promptly with a light commercial van, and a 5 seat family vehicle as the network of filling stations matures.

Rather than selling our vehicles, Riversimple will provide them as a service, with a single monthly fee which covers the car, the maintenance, insurance and all fuel.

We successfully raised £2M+ in 2 previous crowd rounds, and are partnering with Seedrs again to build our movement and bring our brand of sustainable, clean mobility to market.

This is an opportunity to have a stake in a car manufacturer designed from a clean slate to be sustainable – financially, socially AND environmentally.

Monetisation strategy

Through a subscription service, Riversimple aims to generate a regular, resilient income from a steady customer base, over the long term, through dividend payments.

As a customer, you take a car for 1-3 years and pay a monthly fee that covers everything: insurance, maintenance, recovery, tax, and fuel even. When the subscription ends, customers can choose to renew it or return the car, and we’ll supply it to a 2nd customer, 3rd, 4th and so on.

Our model gives us access to both new and 2nd-hand customers. Opening up a significant opportunity for the Rasa, which we will market initially as a local, commuter car around existing hydrogen filling stations

As our income comes from the cumulative number of vehicles in service rather than the number ‘sold’ annually, our revenue is much more resilient in economic downturns. We also ‘break even’ at much lower numbers than the current industry because the tooling cost for carbon fibre is substantially lower than for steel-bodied cars.