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Wurkr Ltd

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A video platform that replicates physical offices to cultivate culture and collaboration in remote teams

125%
 - 
Funded 28 Dec 2020
£150,010 target
£187,928 from 209 investors
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Business overview

Location London, United Kingdom
Social media
Website wurkr.io
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 11067728
Incorporation date 16 Nov 2017
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Investment summary

Type Equity
Valuation (pre-money) £8.5M
Equity offered 2.16%
Tax relief N/A
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Business highlights

  • 60,000 subscribers and 1,500 organisations have chosen Wurkr
  • £700k of investment from large Indian media house
  • +1,000% increase in subscribers since March 2020
  • A planned £1m in additional seed funding is being raised
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.01 +
  • Direct investment min. £25,000.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 209
  • Discussion
  • Documents

Idea

Introduction

Wurkr seeks to be the leader in transforming the future of working from anywhere. We believe our solution is the first of its kind “Office in the Cloud” that simulates a physical office with always-on video technology. We take the virtual workplace beyond occasional video catch ups and recreate the experience of working together all day in an immersive and engaging way. Our platform enables seamless team collaboration, bridging gaps between workers anywhere in the world and embracing a truly new way of working.

With working from home growing by 400% in the last decade, the future of the workplace is undergoing a fundamental shift and digital technology is at the core. We estimate that, post-pandemic, up to 40% of companies will continue to have employees working from home or elsewhere. The need for solutions that cater to this new way of working will only grow.

When you invest in Wurkr, you are participating in one of the fastest growing industries in the world. You are investing in and shaping the future of work.

Monetisation strategy

Wurkr’s target market is not only companies with remote or distributed workers but also those transitioning workers to work from anywhere. Operating on a per user per month subscription pricing model, we will work with diverse businesses, such as start-ups, small and medium enterprises, multinational corporations, remote-first companies, and digital nomads, across industries.

We see an opportunity to expand our model across the UK, India, USA and finally the rest of the world. In fact, current surveys indicate that 99% of employees would like to work at least some of the time remotely for the rest of their careers, while 61% of global companies now offer their staff a remote working policy.

In this environment, where working from anywhere is emerging as the new normal, we will build on our demonstrated traction by raising a new round of funding to maximise advertising globally, expand our team and continue developing our product.

This will help Wurkr further build momentum, drive expansion and ultimately deliver its monetisation strategy.

Future plans: how we will use proceeds

Wurkr will utilise new investment to deliver on its expansion plan.

Wurkr seeks to:

● Be the leader in transforming the future of the ‘working from anywhere’ market.
● Further expand into the UK, India and USA in 2021, with a global push in 2022
onwards.
● Release Wurkr Pro (Paid) that provides for: multi browsers, mobile access, video
conference rooms, user customisation for logo and office sizes and whiteboarding.
● Integrate Wurkr Enterprise with products such as Slack and G Suite.

We are set to succeed in our vision of transforming the future of working from anywhere in a connected world.

Please note, this campaign is part of a larger round (see Key Information section)

Investor Perks

Investors always have the option to invest through the Seedrs Nominee structure but Direct investment is available above £25,000.

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

Current raise

Wurkr has secured investment in two tranches from a large Indian Media House (the “Investor”), for a total investment of £700,000. This investment forms part of the round but is not reflected as the investment is tied to the use of the Investor’s marketing services in India and the Investor will be receiving preference shares.

The first tranche of £350,000 will be invested at the same price per share as this campaign. The second tranche of £350,000 can be invested upon agreement by the Company and the Investor, and if invested, will be based on fair market value, as determined by the company’s accountants.

The Investor will receive preference shares which entitle the investor to a 1x non-participating preference and a full ratchet anti-dilution right.

The investment is made on the condition that the Company will commit to the Investor’s advertising services for a minimum of 4 years (the fourth year only being applicable if the second tranche of investment is deployed).

Wurkr has also secured a further £100,000 commitment from an Angel investor in the form of a call option that may be exercised at the election of the Angel investor any time before 1 April 2022. The exercise price shall be the Company’s fair market value, as determined by the company’s accountants.

Pre-money valuation

Please note, Seedrs’ campaigns display valuation on a fully-diluted basis, so the £8.5m valuation includes (a) debt that is converting into equity on this round, (b) the existing option pool and (c) the first tranche of investment from the Indian Media House mentioned above. The price per share however remains exactly the same and is the price per share invested by the Indian Media House.

Outstanding debt

The business has the following outstanding debt:

£9k directors loan. No interest, payback plans or agreements in place currently.

£21,500 bounce back loan. 12 month interest free and payable over 6 years.

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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 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 £8,503,015

Pitch type

There are 4 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • 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.

Learn more about pitch type on Seedrs.

Seedrs nominee

This shareholding type is available with this raise.

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