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Urban

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The wellness app for busy people. Book massage, beauty, fitness & more with a pro - anytime, anywhere

293%
 - 
Funded 28 Aug 2020
£2,000,007 target
£5,877,517 from 901 investors
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Business overview

Location London, United Kingdom
Social media
Website www.urban.co
Sectors Home & Personal Digital B2C
Company number 09948725
Incorporation date 13 Jan 2016
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Investment summary

Type Equity
Valuation (pre-money) £42.8M
Equity offered 12.07%
Tax relief

EIS

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Business highlights

  • Founded in London in 2014
  • Operating in 4 cities including Paris
  • £43m in cumulative sales value
  • +115% sales growth since last Seedrs campaign August 2018
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.98 +
  • Direct investment min. £100,000.00 +
  • Idea
  • Team
  • Updates
  • Investors 901
  • Discussion
  • Documents

Idea

Introduction

Urban is the wellness app for busy people. It’s a way to book massages, beauty treatments, personal training and more to your door in as little as 60 minutes.

For busy professionals in the city, it’s a one-stop-shop for relaxation and self-care that fits easily into any schedule. And for the practitioners using Urban to connect with clients, it’s a new way to earn more working to their own hours and on their own terms. A win-win, if there ever was one.

Urban’s scaleable in more ways than one, too:

-With practitioners already operating in London, Paris, Manchester and Birmingham, setting up in a new city is as easy as remotely onboarding new pros - a capability we’ve introduced during social distancing.

-With 50+ wellness treatments ready to book, Urban has the potential to span all aspects of wellness, from massage to mindfulness and beyond. If it makes you feel well, there’s scope to host it on Urban.

Substantial accomplishments to date

- Over 650,000 appointments delivered (that’s 94% growth since our last Seedrs campaign in August 2018)
- £43M in cumulative sales value (growth of 115% since August 2018)
- 42% growth in income and gross profit (2018 vs 2019) *
- 3,800 partner practitioners onboarded
- Over 50 treatments now available
- 7,300+ reviews on Apple app store with an average rating of 4.8/5 stars
- £20m funding since 2014 including commitments to this campaign.

*Based on unaudited management accounts.

Monetisation strategy

Our current model is simple: we charge practitioner partners a 25%+VAT fee on the total value of each treatment – money we then spend on operating and marketing costs.

We’re currently looking at ways to adjust these fees to help foster longstanding relationships between practitioners and their clients. We’ll also soon be launching a new wellness membership service that rewards regular users.

Use of proceeds

We’ll be using the proceeds of this campaign to make the most of some new trends arising from the COVID-19 crisis:

1) High street operators are looking for cheaper ways to operate their businesses, including going mobile.
2) Under lockdown, people dabbled more in ordering goods and services to their homes, boosting the at-home services market.
3) Reduced competition in the market gives us more room to grow.

Our next 3 steps:

1) Drive towards OPEX profitability by the end of Q1 2021
2) Reach EBITDA positive by the end of 2021
3) Scale into new markets, faster and more easily with remote expansion

We expect that funds will be allocated as follows:

Please note that certain existing shareholders in the company hold A ordinary shares which carry anti-dilution rights. If the company raised funds at a share price below £0.675 these investors will receive additional shares. The share price for this round is £1.098.

All investors will receive a 1x non-participating preference right. This means that on an exit or liquidation, the proceeds will first be distributed pro rata to each shareholder up to their original investment amount in the company. Any surplus proceeds will then be distributed pro rata between shareholders until each shareholder receives their pro rata entitlement of the proceeds (as if all shares were one class).

£1.6m reflected in the funding bar was raised in April 2020 as a first tranche in the round.

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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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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.

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© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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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.
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 rounded from £42,786,925

Pitch type

There are 4 types of investment pitch available on Seedrs.

  • Equity
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  • Fund
  • 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.

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Seedrs nominee

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Direct investment

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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 or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.