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Swifty Scooters

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Our mission is to inspire more people to use light electric and active transportation.

101%
 - 
Funded 19 Nov 2019
£200,000 target
£202,390 from 62 investors
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Business overview

Location Salford, United Kingdom
Social media
Website www.swiftyscooters.com/
Sectors Automotive & Transport Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 07232162
Incorporation date 29 Oct 2010
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Investment summary

Type Equity
Valuation (pre-money) £4.5M
Equity offered 4.28%
Tax relief N/A
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Business highlights

  • An award winning British Scooter brand
  • Successfully exported to 46 countries
  • High profile celebrity customers and international collaborations
  • Excellent 5 star rating on Trustpilot
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.00 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 62
  • Discussion
  • Documents

Idea

Introduction

Swifty is an award-winning British scooter brand. Our mission is to inspire more people to use light electric and active transportation.

With more than half of all car journeys being less than 5 miles long, and CO2 emissions from transport continuing to grow, these short car journeys present a massive problem.

The micro-mobility market is solving this problem directly by offering light and clean electric vehicles as a better alternative for travelling short distances. This has the potential to save millions of tonnes of CO2 emissions per year.

Swifty provides both active (human-powered) and electric scooters. Both are a clean and fun way of getting around town, fast.

Our customers are inspired to change their travel options as they fall in love with the smooth ride, British design and fresh styling of a Swifty.

Having spent the last 8 years building a trusted brand at the premium end of the scooter market, we are now ready to scale.

Intended impact

In our vision of the future, people will be able to move around cities freely, with minimal impact on the planet.

For the last two years, we have been working on a range of connected and smart e-scooters. Our plan is that by connecting both our active and electric scooters via the SwiftyAPP in future, we will be able to offer the ultimate Swifty experience.

We believe that this connectivity will open up opportunities to supply scooter-share fleet operators. We plan that the scooter-sharing market will be the most important factor in our growth over the next 5 years.

It is planned that the SwiftyAPP will enable users to unlock, share and track their journey. Business customers will be able to monitor and operate their Swifty fleet through the SwiftyAPP, incentivising their users to get fit, have fun and feel great.

Building on our foundations as a premium scooter brand, our aim is to inspire positive change through technology, design, and innovation.

The shift to clean transportation is already happening. In the recent report by McKinsey, the micro-mobility market is estimated to be worth $500bn USD globally by 2031. Our ambition is to target this market and acquire market share.

Substantial accomplishments to date

We want to make Swifty the most anticipated scooter brand in the world.

This year has seen the pre-order launch of a very special project; the SwiftyONE Carbon. This will be our most technical product to date, and a shining example of our passion for design and innovation.

From humble beginnings to Export Champions Over the last 8 years, we have successfully launched 34 products and exported to 46 different countries through the internationally trademarked Swifty Scooters brand.

Our loyal customer base have voted us 5 stars on Trustpilot and Google, and 4.7 stars on Facebook.

Please note, revenue numbers based on unaudited management accounts.

Monetisation strategy

We sell, rent and lease our scooters, accessories, and fleets to end consumers and businesses through our global e-commerce platform, retailing partners and regional distributors.

Key business drivers:

1) Shared Micro-Mobility

We plan to supply our new range of connected, sharable scooters to fleet operators, businesses, and end consumers.

2) New Product Development

Our product development doesn’t stop at scooters. We will command brand loyalty by also offering high margin accessories and apparel merchandise.

3) Global E-commerce

We currently sell through swiftyscooters.com and have recently launched a dedicated e-commerce store in Australia (Jan 2019). Dedicated e-commerce stores in Germany, USA, Japan, Thailand, South Korea, and Singapore will be launched by 2020.

4) Swifty Community

We will continue to excite and grow our community with authentic, engaging, and original digital content.

Use of proceeds

This is an extraordinary time for micro-mobility, and the optimal time to join Swifty Scooters.

The proceeds from this raise will be used for the following:

1) Finalise and build the SwiftyAPP, connecting our current active and electric scooters

2) Complete R&D of new e-scooters and bring to market in 2020

3) Roll out a range of Swifty branded lifestyle accessories and apparel merchandise

4) Grow the team in key areas of Sales, Marketing, and Tech

Now is your chance to earn rewards by investing in Swifty. Invest now and receive exclusive discounts on Swifty products, including Swifty Carbon!

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 and listed above. 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

Share Classes

Swifty Scooters has 3 classes of shares outstanding;

i) A Ordinary Shares
ii) B Ordinary Shares
iii) Preference Shares

Seedrs investors will be receiving A Ordinary Shares.

The A and B ordinary shares rank pari passu in all respects, with the only difference being that A Ordinary Shares have a nominal value of £0.01 and B Ordinary Shares have a nominal value of £5.00. These shares carry an equal right to distributions and voting.

Preference shares have a nominal value of £1 and do not entitle the holders to any voting rights. The preference shares accrue a yearly fixed cumulative dividend of 3.5% of nominal value, which is rolled up if not paid from available profits. Preference shares rank first in any distribution, however the distribution is capped at the nominal value plus any accrued and interest due. Preference shares must be redeemed 5 years after they have been issued, if they have not been already redeemed.

As Preference Shares are effectively treated as a debt, they have been excluded from share price calculations.

Debt

There are currently 75,000 preference shares in issuance of £1 each. They accrue an annual cumulative fixed dividend of 3.5% which is rolled up if not paid.

There is also an outstanding directors loan of £75,000, which accrues no interest and is only repayable if the company makes a profit.

Investor funds will not be used to repay debt.

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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 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 £4,525,000

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.

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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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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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