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savvy navvy

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The Google Maps for boaters, making boating easy, safe and fast. Getting everyone out on the water!

179%
 - 
Funded 24 Jan 2022
£750,004 target
£1,382,090 from 830 investors
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Business overview

Location London, United Kingdom
Social media
Website www.savvy-navvy.com/
Sectors Travel, Leisure & Sport Digital B2C
Company number 10919572
Incorporation date 16 Aug 2017
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Investment summary

Type Equity
Valuation (pre-money) £9.5M
Equity offered 12.43%
Share price £10.76
Tax relief

EIS

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Business highlights

  • 1,400% user growth (Q3 '21 Year on Year)
  • Exceeded 2021 sales targets by 18%
  • £660,000 ARR*
  • 5:1 LTV/CAC ratio
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.76 +
  • Direct investment min. £25,000.00 +
  • Pay by Bank payments not accepted
  • Idea
  • Team
  • Updates
  • Investors 830
  • Discussion
  • Documents

Idea

Introduction

We save boaters hours of frustration by finding the best and safest routes to their destination. Instead of having to use multiple apps, sailors can simply drop a pin on the map, and we’ll work out the best route in seconds.

AMAZING GROWTH

In 2021 we set out to obtain 15,000 paying subscribers. With the boating boom surpassing even our own projections, we blew past that target at the end of the summer, achieving more than a 1,400% year on year growth rate.

Now, with a reach of hundreds of thousands of boaters and growing, we’re able to help the wider marine industry, by promoting businesses directly to actual boat owners.

Similar to Google Maps, boat shops, marine electricians, boatyards, sailing schools and many more will now be able to promote themselves directly on the map inside savvy navvy.

This increases our addressable market, with €20 billion euros being spent annually on boating accessories and marine equipment. Our ad platform is expected to provide a solid additional revenue stream.

Substantial accomplishments to date

2021

● Increased ARR to £660,000 (768% year on year growth)*
● 223,000 registered accounts
● 43,000,000 miles of routes calculated
● 1,400% paying subscriber growth rate (Q3 YoY)
● 5:1 LTV to CAC ratio
● Raised more than £860,000 - we now have more than 1,400 investors
● Added support for 8 languages
● Marketing rollout across all five regions
● Launched first-of-its-kind Departure Scheduler
● New revenue stream via "Book a Berth" directly from within the app
● Added our own custom Lidar bathymetry in selected regions

2020

● 56,000 registered accounts
● 15,000,000 miles of routes calculated
● £76k Annual Recurring Revenue (375% year on year growth)*
● Increased our chart coverage to 93% across five global regions
● Raised more than £600,000
● Including the founders of Kahoot
● Reduced our customer acquisition costs to under £40**
● Added support for motorboats, extending our targetable market
● Secured partnerships with Sunsail, Navily, Dockwa, GJW Insurance, XShore, various yacht clubs and marine brokerages around the world and many more

2019

● Raised more than £330,000
● 22,000 registered accounts
● 6,000,000 miles of routes calculated
● £16k Annual Recurring Revenue*
● Reached Product Market Fit***

* Based on unaudited management accounts

**Data for UK and Ireland marketing campaigns

*** Defined as having more than 40% of users who would be very disappointed if they could no longer use savvy navvy. We reached 47% in Dec 2019

Monetisation strategy

TWO MODELS

USA - Freemium

In 2022 we are rolling out a freemium model in the US, the biggest boating market in the world. This will put savvy navvy in every boaters pocket and increase the value of our new 'Promoted Businesses' ad platform.

The freemium users act as an acquisition channel, reducing our CAC even further. The upsell to the Premium plan ($69) increases our average revenue per customer.

The rest of the world - Free Trial

In other parts of the world, we will continue our existing Free Trial model. This dual-pronged approach allows us to monitor the success of our Freemium in the US, by closely comparing KPIs.

The proven Free Trial model provides three annual subscription plans, ranging from £35 to £65 per year with an average customer lifetime value of £270.

With an average customer acquisition cost of £40, even allowing for fluctuations this results in a very healthy 5:1 LTV to CAC ratio.

Use of proceeds

This next phase for savvy navvy revolves around continued user growth and adding an ad platform for marine businesses.

The funds of this round will enable us to increase user growth by:
● Expanding to paddleboarders, kayakers and jet skiers
● Putting savvy navvy into every boaters pocket
● Increase average revenue per user
● Adding a new revenue stream with the rollout of 'Promoted Businesses'

___

FEATURE ROADMAP

And much, much more...

★★★★★

INVESTOR PERK

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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.

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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 £9,508,214

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.

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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.

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Business Involvement

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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

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