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The Eighth Door

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An essential property professional’s tool to enable fast and efficient business growth, globally.

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Funded 17 Nov 2021
£150,002 target
£156,146 from 0 investors
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Business overview

Location Harrogate, United Kingdom
Social media
Website www.eighthdoorclub.com
Sectors Property Digital B2B
Company number 10264779
Incorporation date 6 Jul 2016
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Investment summary

Type Equity
Valuation (pre-money) £2.1M
Equity offered 6.61%
Tax relief

EIS

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Business highlights

  • Finalist for Best Advocate Proptech at The Proptech Awards 2020
  • Launched in Apple App Store and Google Play store June 2020
  • Expert Advisory Board from YourKeys/Zoopla and Pollenise
  • Members from 26 different countries.
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Key features

  • Secondary Market
  • Seedrs nominee min. £11.34 +
  • Pay by Bank payments not accepted

Idea

Introduction

Launched in 2020, The Eighth Door is a disruptive new platform that is set to revolutionise the way that real estate business is conducted, powering new deals, business partnerships and scaling real-estate propositions.

In an industry that thrives on social interaction and pitching to make deals happen, The Eighth Door is the dating platform of the real estate ecosystem, connecting all types of property professionals to relevant new business opportunities whilst extending their business network.

Introducing 'Pitch' - a real-time stream of tailored, innovative and valuable propositions where users pitch their opportunities, requirements and services in 30-second elevator pitches, through video, audio and visual content.

Pitchers easily reach out to interested parties to discuss, share and ultimately conduct business, with a spam-free environment. They can connect with pitchers and new contacts, open-up direct message conversations, arrange a call or meeting directly.

The Eighth Door is putting the fast and quick-paced world of property and technology at your fingertips!

Substantial accomplishments to date

- Team and advisors brought from key property companies around the world including, Yourkeys, Pollenise and Landmass.

- Shortlisted for Proptech Advocate Award at the UK Proptech Association Awards 2020

- Self funded initial MVP development

- Committed SEIS funding of £150,000

- Nearly 2500 members on invite only beta MVP Test and Learn with feedback

- Members from 26 different countries

Monetisation strategy

We are currently developing the new feature 'Pitch' to be released in Beta in the Autumn. We plan to Stay in Beta and offer the app for free for 3 months, where we will begin implementing stratergies to increase users.

Once we hit 10,000 users, we will implement our subscription model Revenue, where users can upgrade to Pro User and pay a monthly subscription of £9.99 per month.

From year 3 and beyond we plan to bring in a SAAS model to reach Corporate companies to bring in more users and revenues.

We have many ideas beyond the plan. As The Eighth Door is a global multi-stakeholder property platform, the amount of traffic and user engagement is poised to be much higher than on other dedicated binomial platforms.

We believe The Eighth Door can offer much superior ROI for all property professionals by not having the noise from totally irrelevant users. This will lead to huge opportunities in sponsorship, affiliate marketing and advertising revenue generation.

Use of proceeds

Our core business model is set to be profitable, however, we keep investing in areas that will make our business become even stronger in the future.

The funds raised in this round will be allocated towards three main areas:

1) Continued growth in already existing markets, through increasing Marketing and reaching all cities.

2) Investment into tech product development to further increase operational efficiency and bring on new resource to help implement this.

3) Introducing premium features and implementing subscrition revenue model.

Key Information

Loan Disclosure

The company has a bounce back loan of £48,000 taken out from July 2020 to January 2027, with repayment to begin from February 2022. This loan is Interest free for the first 12 months with an interest rate per year of 2.5% thereafter.

Funds raised as part of this round will not be used to repay outstanding debt.

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Open an account and verify your identity to get access to the The Eighth Door pitch deck and other documents

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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 £2,119,610

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

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 shareholding type is available and the minimum investment required to select it.

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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.