Seedrs • ReelFlow
Financement participatif (equity crowdfunding)
ReelFlow
ReelFlow brings B2B websites to life with interactive, human video — short, clickable videos of real people that let visitors navigate marketing and trade-show websites as a self-guided video conversation instead of static text.
Key project data
Target amount
0,29 MEUR
Équité
3.68%
Valuations
7,7 MEUR
Rendements potentiels
x10
Année de sortie prévue
2033
Would AI invest?
77/100
1
100
Aperçu généré par l'IA
AI project overview
Condensed summary based on project data
<p><span style="font-size:28pt"><span style="font-family:"Times New Roman",serif">ReelFlow — Crowdfunding Investor Memo</span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><em>ReelFlow adds short, clickable videos of real people to business websites — mainly trade-show and B2B marketing sites — so visitors can watch and choose their way through a site instead of reading static text.</em></span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Sector: <strong>B2B software + video service</strong> · Stage: <strong>Seed</strong> · HQ: <strong>Birmingham, United Kingdom</strong> · Raise: <strong>£285k target (£295k raised at capture, 103%)</strong></span></span></p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Snapshot</span></span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">1 · Is the price fair? 💶</span></strong></span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">3 / 5 — stretched but arguable. </span></strong><span style="color:black">The £7.7M pre-money price equals roughly 50 times the company's current £155k of annual recurring revenue — well above the 8–15x that UK seed software companies with proven demand typically command (ScaleWithCFO, 2026) and the 4–8x seen in UK software sales (Consult EFC, Feb 2026). Set against typical seed-round sizes overall, however, an £8M company value is not unusual (US seed medians run near $20–24M post-money — Carta, Q4 2025).</span></span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">2 · Can they reach an exit stage? ⭐</span></strong></span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">AI SCORE 77 / 100 — Good. </span></strong><span style="color:black">Strongest evidenced precondition: founders with a publicly confirmed $34M sale of their previous company in the same customer world (B2B events), working together again full-time, with revenue tripling this year. Biggest gap: the business is still small (£155k annual recurring revenue) in a young product category that its own risk disclosure calls “emerging”.</span></span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">3 · If they do, what could it pay? 🎯</span></strong></span></span></p> </td> <td style="background-color:#f0f4f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Target 10x over 5–7 years</span></strong><span style="color:black"> — the standard expectation for seed-stage investing (the company states an intention to sell the business, but no numeric return target). If an exit is reached, illustratively <strong>roughly 3x–10x</strong> before fees and future dilution: the founders’ own previous sale ($34M — PRNewswire, 2019) would correspond to about 3.4x on this round’s ~£8.0M post-money value, while the full 10x would need a sale near £80M — larger than any exit we could find on record in this niche. These figures do not include dilution from future fundraising rounds, which would reduce actual returns — see the dilution section.</span></span></span></p> </td> </tr> </tbody> </table> <p> </p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>How to read the score</strong></span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">85–100 · Excellent</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">All key preconditions for reaching an exit stage are evidenced and strong — rare at this stage</span></span></p> </td> </tr> <tr> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">70–84 · Good</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Preconditions largely in place, with specific gaps — named in the questions section</span></span></p> </td> </tr> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">50–69 · Average</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Meaningful preconditions missing or weakly evidenced</span></span></p> </td> </tr> <tr> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">30–49 · Weak</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Several core preconditions absent, or the evidence points against them</span></span></p> </td> </tr> <tr> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">1–29 · Critical</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Fundamental preconditions are not visible in the evidence</span></span></p> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f0f4f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">What we could check. </span></strong><span style="color:black">We verified the founders’ previous $34M company sale, the company’s registration and directors, the size of the trade-show market, and the funding of the named competitors against public sources — all held up. The revenue, customer, order-value and renewal figures rest on the company’s own materials, and the cap table was not in the pack we reviewed — see the questions section.</span></span></span></p> </td> </tr> </tbody> </table> <p> </p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Three answers, one honest note. </strong>The fairness score says whether the entry price is supported by the sector benchmarks we could find. The AI Score is our read on whether the company has the preconditions in place to reach a stage where a sale or similar return event can happen — it audits readiness on the disclosed evidence, not the probability of success, and even companies with every precondition in place fail more often than they succeed, which is why crowdfunding only works as a small part of a diversified portfolio. The returns range is an illustration from named sector benchmarks, not a forecast. Where something was not in the pack, it did not lower any score — it appears in the questions list instead, so you can ask the company directly before investing. The listing was reviewed by a licensed crowdfunding platform (Republic Europe, regulated by the Central Bank of Ireland) before going live. Nothing in this memo is a recommendation.</span></span></p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">At a glance</span></span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Three reasons to look closer</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Three reasons for caution</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The founders built and sold their previous company, Akkroo, to Integrate for $34M in 2019 — publicly confirmed (PRNewswire) — and it served the same trade-show world they are now selling into.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Annual recurring revenue tripled in seven months, from £50.2k (Q3 2025) to £154.6k (July 2026), with 45 customer websites live and 6 of the first 7 annual customers renewing, per the deck.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Clean deal for small investors: one single class of ordinary shares, nobody gets paid back ahead of you, and the founders report putting in £50k each on the same terms, with 30% EIS tax relief for qualifying UK investors.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The company is still very small: 2025 turnover was £50,992 against a £456,447 operating loss (per the regulatory information sheet) — the round funds a business that spent roughly £9 for every £1 it earned last year.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The price is roughly 50 times current annual recurring revenue — above every UK software pricing benchmark we found (8–15x for seed-stage per ScaleWithCFO; 4–8x in UK software sales per Consult EFC).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">“Interactive video” is a young, unproven product category — the company’s own risk disclosure says customers “may default to existing solutions or delay adoption”, and its deck concedes nothing structurally stops a large platform copying the product.</span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Deal terms. </span></strong><span style="color:black">No terms were identified in the reviewed documents that would prevent a crowdfund investor from sharing in the upside. Full mechanics are at the end of this memo.</span></span></span></p> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#e6f1fb; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">ℹ️ Information, not investment advice. </span></strong><span style="color:black">Capital at risk — you could lose the full amount invested. Full notes are at the end of this memo.</span></span></span></p> </td> </tr> </tbody> </table> <p> </p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">🏢 What the company does</span></span></span></h1> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">ReelFlow puts short videos of real people onto business websites and makes them clickable, so a visitor can choose what to watch next — a guided video conversation instead of static text. Its main customers are organisers of trade shows and exhibitions (Easyfairs, Informa Markets and CloserStill are named in the deck) plus B2B marketing teams. The company earns money three ways: annual plans at £3k–£30k per year, paid pilot campaigns at £1k–£5k, and a self-serve subscription from £39 per month; it also sells hands-on video production services. It is a UK company (Birmingham, incorporated April 2024) selling mainly to UK and European event organisers. The company reports £155k of annual recurring revenue as of July 2026 — three times the level at the start of the year — 45 customer websites live, a tenfold rise in average order size, and 6 of its first 7 annual customers renewing. It previously raised £230k at founding and £969k in 2025, per the deck; this £285k round is described by the company as its final raise before targeted break-even in 2027, and funds go roughly 60% to sales and marketing, 25% to one or two go-to-market hires, and 15% to product development.</span></span></p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">📈 The returns picture</span></span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">The target</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">10x over 5–7 years — the standard expectation for seed-stage investing. The company states an intention to build toward a sale of the business (“exit via acquisition”) in the marketing-technology, event-technology and video world, with break-even targeted in 2027, but gives no numeric return target of its own.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">How the company plans to get there</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Per the deck: win the trade-show vertical first (32,000 shows a year worldwide — a figure confirmed by the industry body UFI), expand from single events to whole organiser portfolios (Easyfairs went from a £1k pilot to £26k across its portfolio; Informa Markets from 1 to 10 shows in 3 months), reach break-even in 2027, and position the company as an acquisition target for the larger platforms named in its own competitive map. The company provided no table of comparable company sales — none was in any material reviewed. The one recorded sale we could anchor on is the founders’ own previous company, Akkroo, bought by Integrate for $34M in 2019 (PRNewswire).</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">What has to be true</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">A 10x return on this round’s ~£8.0M post-money value needs a sale near £80M before fees and dilution. On the software pricing benchmarks in our research (roughly 4.5x revenue at the median of software company sales, 6–10x for strong performers — Aventis Advisors 2025–26; Consult EFC 2026), that means growing from £155k to roughly £8M–£13M of annual recurring revenue — about a 50–85-fold increase — while keeping customers renewing.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">If reached — potential returns</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Illustratively roughly 3x–10x before fees. Method: we compare the entry value (~£8.0M post-money, from the disclosed £7.72M pre-money plus this £285k round) against recorded outcomes — a sale the size of the founders’ previous exit ($34M ≈ £27M) would pay about 3.4x, while the full 10x seed hurdle needs ~£80M, larger than any sale we could find on record in this niche (the only recorded comparable is Akkroo at $34M). These figures do not include dilution from future fundraising rounds, which would reduce actual returns — see the dilution section.</span></span></p> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#fbf1dc; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Why aim for this target? </span></strong><span style="color:black">Startup investing is high risk. Most early-stage companies fail or return little. A small number of winners must make up for the losers, so each seed investment is typically aimed at roughly 10x over 5–7 years. Even a company with every precondition in place reaches that hurdle only as a minority outcome.</span></span></span></p> </td> </tr> </tbody> </table> <p> </p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">📊 Score breakdown</span></span></span></h1> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><em>Score = each category’s score weighted by its importance; weights sum to 100%.</em></span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Category</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Score</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Weight</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:337px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Verdict & key reason</span></strong></span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Team capability</span></strong></span></span></p> </td> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">88</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">25%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:337px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Excellent</strong> — Two-time founders whose $34M sale of Akkroo to Integrate (2019) is publicly confirmed, re-teamed and full-time, selling into the same trade-show world they know, with a named 8-person team behind them.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Product-market fit</span></strong></span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">78</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">20%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:337px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Good</strong> — Seven named customer testimonials (two with measured results), 6 of 7 first annual customers renewing, and product usage up 482% year-on-year — on a still-small customer base.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Traction & growth</span></strong></span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">78</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">20%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:337px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Good</strong> — Revenue run-rate tripled to £154.6k in seven months with quarter-by-quarter figures disclosed and named accounts expanding (£1k→£26k; 1→10 shows); absolute scale remains small and 2025 spending ran ~9x revenue.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Market size</span></strong></span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">68</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">15%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:337px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Average</strong> — The 32,000-shows-a-year beachhead is confirmed (UFI) and buyer-shift data broadly checks out (Forrester), but two headline statistics could not be sourced and the category is young — the company’s own risk disclosure flags slow adoption as a risk.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Business model</span></strong></span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">72</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">10%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:337px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Good</strong> — Three clear revenue tiers (£3k–£30k annual plans, £1k–£5k pilots, £39+/month self-serve) with a stated tenfold rise in average order size; 2025 economics were heavily loss-making (£51k turnover, £456k operating loss, per the KIIS).</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Competition</span></strong></span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">65</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">10%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:337px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Average</strong> — Direct rivals are modestly funded (largest: Videobot at €5.5M — confirmed), but one is owned by Typeform with existing distribution, and the deck itself concedes nothing structurally stops a large platform building the same thing.</span></span></p> </td> </tr> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">AI SCORE</span></strong></span></span></p> </td> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">77</span></strong></span></span></p> </td> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">100%</span></strong></span></span></p> </td> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:337px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Good</span></strong><span style="color:black"> — the preconditions for reaching an exit stage are largely evidenced, led by a confirmed repeat founding team and fast early revenue growth; the open gaps are scale, category adoption and unit economics — see the questions below.</span></span></span></p> </td> </tr> </tbody> </table> <p> </p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">❓ Questions to ask before investing</span></span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><em><span style="color:black">These are facts the company holds and can supply on request. They were not in the materials we reviewed — they may well exist in interviews, webinars or the company’s data room. The score above is based on what <strong>was</strong> available — these questions are how you close the gap.</span></em></span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">What is the revenue split between annual software plans, pilot campaigns, self-serve subscriptions and production services — and what is the blended profit margin on each sale once video-production costs are included?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">Of the 45 live websites, how many sit under paid annual contracts vs paid pilots vs free or discounted arrangements — and how many distinct paying customers do they represent?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">What are current monthly net spending (burn) and months of cash runway, before and after this £285k closes?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">Beyond the 6-of-7 first annual renewals, what share of customers and revenue is retained across all 2025–26 groups (cohorts)?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">What was the average order value in January 2026 and today, in pounds, behind the “10x” claim?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">Can you share the before/after ownership table (cap table) linked in the KIIS, the size of the employee share pool, and whether crowd investors get the right to join future rounds (pre-emption)?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">Do the founders’ shares have vesting — conditions under which they are earned over time — and what happens if a founder leaves?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">What were the terms of the 2025 £969k round — the instrument, the company value it was priced at — and can you provide the share-issue filings?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">What is the source for the “87% of B2B buyers say video influences purchase decisions” and “94% have a preferred vendor before first contact” statistics in the deck?</span></span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:624px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">What are the commercial terms of the retained services arrangement with board adviser Gareth Cadwallader — the annual cost and the size of his option grant?</span></span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">📜 What you own</span></span></span></h1> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">You would own ordinary shares — the same single class as everyone else, including the founders — bought at £6.02 each. For most investors the shares are held on your behalf by a holding entity run by the platform (a “nominee”, Seedrs Nominees Limited); investing directly in your own name requires £20,000 or more. The shares carry voting rights and a right to your share of any dividends or sale proceeds, exercised through the nominee. If the company is ever sold, your share of the price reaches you through the nominee after the platform’s 5% fee on your profit. Full mechanics are in the reference section below.</span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><em>Everything below is reference detail for readers who want to go deeper.</em></span></span></p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">🔍 Detailed review</span></span></span></h1> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Team capability</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Chris Wickson (CEO) and Andy Higgs (Chief Product Officer) co-founded Akkroo, a company selling software to businesses exhibiting at trade shows, and sold it to US-based Integrate for $34M in 2019 — confirmed across multiple public sources (PRNewswire, MediaPost, MarTech). Both took leadership roles at the buyer afterwards. Wickson also co-founded RateMyPlacement (now Higherin) in 2007 — confirmed; the deck’s “multi 7-figure” management buyout in 2022 is a private transaction with no public record, which is normal. Both are full-time on ReelFlow and are its registered directors since incorporation, each holding 20% or more. A named 8-person team covers customer success, marketing, growth, and engineering, per the deck.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Publicly confirmed $34M exit in the exact customer world (B2B events) the company now serves.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Founders re-teamed after a previous successful collaboration, both full-time, both major shareholders.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Named functional team of 8 including two engineers and an experienced finance/operations adviser.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The regulatory information sheet itself flags dependence on a small founding team — losing a key person could disrupt the business.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">No CVs or tenures for the six non-founder team members were in the pack we reviewed (asked in the questions section).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The 2022 RateMyPlacement buyout figure could not be checked against any public record.</span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Product-market fit</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The product’s mechanism is described in detail: an automated scan of the customer’s website, auto-drafted video scripts refined by the team, filming that is either self-serve or fully produced, and a player that goes live with a single line of code — “zero to live in days, not weeks”, per the deck. Seven customers are quoted by name and role; two report measured results (“bounce rate down 7%, time on homepage up 45 seconds” — Rocket SaaS CEO). Six of the first seven annual customers from 2025 renewed for year two, and “flows started” — the company’s product-usage measure — grew 482% year-on-year, per the deck.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Named, attributable testimonials including two with concrete engagement numbers.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">6 of 7 first-year annual customers renewed — an early but real retention signal, stated plainly on its small base.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Product usage growing faster than revenue (482% year-on-year in flows started), per the deck.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The renewal evidence covers only seven customers — too few to establish a pattern yet.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Measured customer results exist for two customers only; aggregated results across the 45 live sites were not in the pack we reviewed (asked in the questions section).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">“Flows started” is not defined in the deck, so the 482% figure cannot be interpreted precisely.</span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Traction & growth</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The deck discloses a quarter-by-quarter revenue run-rate: £50.2k (Q3 2025), £53.6k (Q4 2025), £80.2k (Q1 2026), £135.0k (Q2 2026), £154.6k (July 2026) — three times the January level. 45 customer websites are live, more than double since 1 January, and average order value is up tenfold, per the deck. Named accounts are expanding: Easyfairs from a £1k pilot to £26k across its portfolio; Informa Markets from 1 to 10 shows in 3 months. The regulatory information sheet shows 2025 turnover of £50,992 against an operating loss (EBITDA) of £456,447, and a year-end net cash position of roughly £499k.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Revenue run-rate tripled in seven months, disclosed as a full time-series rather than a single headline number.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Expansion inside named large organisers (£1k→£26k; 1→10 shows) — the land-and-expand pattern the company claims, evidenced with figures.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Roughly £499k of net cash at end-2025 (per the KIIS balance sheet) plus this round funds the stated plan; the KIIS states the plan is not dependent on further fundraising.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Absolute scale is small: £155k of annual recurring revenue and £51k of recognised 2025 turnover.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">2025 spending ran roughly nine times revenue (£456k operating loss on £51k turnover, per the KIIS).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Growth was flat for a period — Q3 to Q4 2025 moved only £50.2k→£53.6k — before accelerating in 2026; churn, customer-acquisition cost and margin figures were not in the pack we reviewed (asked in the questions section).</span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Market size</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The beachhead is specific and checkable: 32,000 trade shows and exhibitions run worldwide each year — confirmed by the industry body UFI (May 2025) — and, per the deck, each has its own website, typically static. The deck’s claim that 70% of B2B buyers are now millennials or Gen Z sits inside the 64–71% range published by Forrester. The wider claim of 200M business websites globally, and two headline statistics (87% video influence; 94% preferred-vendor), carry no cited source and we could not locate one. The company’s own risk disclosure describes interactive video as “an emerging category” where “customers may default to existing solutions or delay adoption”.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The core beachhead number (32,000 shows/year) is independently confirmed (UFI, May 2025).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The buyer-demographics argument matches published Forrester research (64–71% millennial/Gen Z).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">A focused entry strategy — roughly 150–200 major organisers, each running many shows — makes the sales target list concrete, per the deck.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Two of the four “Why now” statistics (87%, 94%) could not be traced to any source, and the deck does not cite one (asked in the questions section).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The 200M-websites total market figure is uncited and definitions vary widely.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Category adoption is the company’s own stated risk: an emerging product type where buyers may stick with what they know (KIIS sector risks).</span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Business model</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Revenue comes from three tiers, per the deck: annual plans at £3k–£30k a year (sales-led, can include videographer and studio services), paid pilots and campaigns at £1k–£5k as the entry point, and self-serve subscriptions from £39 a month — plus hands-on production services where needed. The company argues the software-plus-service combination removes adoption barriers and is harder for a pure-software rival to copy. Average order value is up tenfold since January 2026, per the deck; the absolute figures behind that multiple were not in the pack we reviewed. Break-even is targeted for 2027, per the deck.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">A clear three-tier pricing ladder from £39/month self-serve up to £30k annual plans gives multiple entry points.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Tenfold growth in average order size alongside a tripling of revenue suggests the mix is shifting toward the larger annual plans, per the deck.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The paid-pilot tier (£1k–£5k) means even trials generate revenue rather than free work.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">2025 economics were heavily loss-making: £51k turnover against a £456k operating loss (KIIS).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The split between recurring software revenue and one-off service/production revenue was not in the pack we reviewed — it determines how a buyer would value the business (asked in the questions section).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Video production is people-intensive; margins including production costs were not in the pack we reviewed (asked in the questions section).</span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Competition</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The deck maps three partially-direct competitors with candour: Videobot (Finland — raised €5.5M, confirmed by funding press), VideoAsk (owned by form-builder Typeform — ownership confirmed), and Life Inside (Sweden — a €350k angel round is on record; the deck’s ~€1M total could not be confirmed). The deck’s revenue estimates for all three are the company’s own and have no public record. Around it sit six categories of indirect competition, from website chatbots (Intercom, Drift) to AI video creation (HeyGen, Synthesia) and video publishing (Wistia, Vimeo). Asked what stops a big platform building this, the deck answers “nothing structurally” — arguing it is not their core focus and that the software-plus-service model is hard for a pure-software company to copy.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Direct rivals are modestly funded — the largest, Videobot, has raised €5.5M total (confirmed) — so no competitor holds a decisive capital advantage today.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Purpose-built focus on B2B event websites differentiates from the general-purpose rivals, per the deck.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Unusually candid competitive disclosure, including naming the acquirer landscape the company is building toward.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">VideoAsk sits inside Typeform, which already has distribution to a large business customer base.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The deck itself concedes that nothing structurally prevents a large platform from building the same features.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Category boundaries are contested from several directions at once — chatbots, AI-generated video and video hosting all overlap parts of the product; the bet that human video beats AI-generated avatars is stated as a belief, not evidenced.</span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">💶 Valuation detail</span></span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Pre-money valuation</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:431px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">£7.72M, per the deck (campaign page displays £7.7M — a rounding difference).</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Post-money valuation</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:431px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">≈ £8.0M at the £285k target (derived: £7.72M + £285k); slightly higher if over-subscription continues.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Instrument</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:431px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Equity — new ordinary shares (the basic form of company ownership; one single class, ranking equally with all existing shares), 47,343 shares at £6.02 each, per the KIIS.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Ownership % offered</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:431px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">3.68% of the company at the target amount, per the campaign page — consistent with the share count and price disclosed in the KIIS.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">How the valuation was set</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:431px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Methodology not in the pack we reviewed. The platform states the valuation is set by the business and is not an independent view of what the business is worth.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">External benchmarks</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:431px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">£7.72M pre-money on ~£155k annual recurring revenue ≈ 50x current revenue run-rate. Named references: UK seed-stage software with proven demand prices at 8–15x (ScaleWithCFO, 2026); UK software company sales run 4–8x for well-run growing businesses (Consult EFC, Feb 2026); private software medians ~4–6x (Aventis Advisors 2025–26; L40 2026). For overall round-size context, US seed medians are ~$20–24M post-money (Carta Q4 2025) — well above this round’s ~£8.0M. No priced funding rounds with disclosed valuations were found among the direct interactive-video peers.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Valuation fairness (1–5)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:431px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">3 / 5 — stretched but arguable. The price sits far above every revenue-multiple benchmark found (ScaleWithCFO; Consult EFC; Aventis), but seed rounds are routinely priced on team and trajectory rather than current revenue, and against general seed-round values (Carta) the absolute figure is modest. Two independent benchmark sets, pointing in opposite directions, land it in the middle.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Notable terms</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:431px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">30% EIS income-tax relief indicated for qualifying UK investors (not guaranteed). Founders report investing £50k each on the same terms; the KIIS records management and existing shareholders committing £100,000 — 35.09% of the target. Investment fee 2.5% (min £5, max £250); the platform also takes 5% of any profit paid out to you (“administration fee”), per the KIIS.</span></span></p> </td> </tr> </tbody> </table> <p> </p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">🚩 Red flags & integrity checks</span></span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">1</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Missing critical data</strong> — The ownership table (cap table) is linked in the KIIS but was not in the pack we reviewed; also not in the pack: employee share-pool size, customer churn, revenue mix between software and services, margins, monthly spending and runway in months, and the pound values behind the “10x average order value” claim. All appear in the questions section.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">2</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Internal inconsistencies</strong> — The deck states “3x ARR growth… now up to £155k (July 26)” while the campaign page states “2.5X revenue growth since Jan 2026”; and the deck’s “45 customer websites live” sits beside the campaign page’s “40+ customers”. Both pairs are plausibly different measures (run-rate vs recognised revenue; websites vs customers) and are recorded unresolved.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">3</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>External discrepancies</strong> — None found. No public source contradicted any company claim. (The Dealroom database lists “no known external funding” against the company’s reported £969k 2025 round — a database gap, not a conflicting record; the round is asked about in the questions section.)</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">4</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Negative public information</strong> — None found in public registries or news searches: no litigation, insolvency, regulatory action or adverse press.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">5</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Prior fundraises</strong> — Per the deck: £230k founding investment (2024; £200k Blissgrowth, £30k founders) and £969k in 2025, neither publicly recorded — normal for private rounds. The 2025 round’s stated purpose (build product, team and go-to-market) is reported by the company as delivered, with £150k+ recurring revenue reached in H1 2026. The founders’ prior company sale ($34M, 2019) is publicly confirmed.</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">6</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Valuation reasonableness</strong> — £7.72M pre-money ≈ 50x current £155k annual recurring revenue, versus 8–15x for UK seed software with proven demand (ScaleWithCFO 2026) and 4–8x in UK software sales (Consult EFC 2026); against general seed-round sizes (US median ~$20–24M post-money, Carta Q4 2025) the absolute value is modest. Recorded as a comparison, reflected in the fairness score of 3/5.</span></span></p> </td> </tr> </tbody> </table> <p> </p> <h1><span style="font-size:16pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">📜 Instrument & investor terms — full mechanics</span></span></span></h1> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">What you own — in full</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">New ordinary shares at £6.02 each, £0.001 nominal value, fully paid, in one single share class ranking equally (“pari passu”) with every existing share — including the founders’. Most investors hold through the platform’s holding entity (“nominee” — Seedrs Nominees Limited), which holds legal title on your behalf; direct holding in your own name requires a £20,000+ investment; card payments are not accepted. The shares carry voting rights in proportion to your stake and the right to dividends — though early-stage companies rarely pay any. A decision to sell the company would be taken by shareholders; your vote is exercised through the nominee, and with a small stake your individual influence is minimal in practice.</span></span></p> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Dilution — how your share can shrink</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The company describes this round as its final raise before targeted break-even in 2027, and the KIIS states the plan is not dependent on further fundraising — but companies frequently do raise again. When new shares are issued, every existing holder’s percentage shrinks (“dilution”). Worked example, illustrative: if you invest £1,000 here you get roughly 0.0125% of the company; if the company later raised another £1M at a £12M pre-money value, about 7.7% new shares would be created and your stake would become roughly 0.0115% — the same shares, a smaller slice. Whether you would have the right to join such a round to maintain your slice (“pre-emption”), and whether anyone holds special protection against dilution (“anti-dilution”), was not in the pack we reviewed — both are in the questions section. An employee share option pool exists (the board adviser holds options), but its size was not in the pack we reviewed.</span></span></p> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">If the company is sold or wound down</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Payout order in plain words: lenders and other creditors are paid first; because there is only one share class with no priority rights (no “liquidation preference”), whatever remains is then shared by all shareholders in proportion to their stakes — crowd investors included, on exactly the same footing as the founders. If holders of more than 50% of the shares vote to sell the company, everyone can be forced to sell on the same terms (“drag-along”) — the two founders each hold 20% or more, so a founder-led majority sale is realistic. If control of the company changes hands, you have the right to join the sale on the same terms (“tag-along”). Shares cannot be freely transferred — transfers follow the company’s constitution — and while the platform runs a resale board (“secondary market”), eligibility is not guaranteed; plan for your money to be locked in for years. On any profit paid out to you, the platform charges a 5% administration fee, per the KIIS.</span></span></p> <h2><span style="font-size:13pt"><span style="font-family:"Times New Roman",serif"><span style="color:#2e74b5">Terms not in the pack we reviewed</span></span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">These exist in the shareholder documents and could have been disclosed — a genuine gap, unlike operating figures. Each also appears in the questions section:</span></span></p> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The ownership table (cap table) before and after this round — linked in the KIIS as a separate document, not in the pack.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Employee share pool size, and whether it grows before any next round.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Anti-dilution protection, if any, and who holds it.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Rights of crowdfund investors to join future rounds (pre-emption).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Founder share vesting and what happens if a founder leaves.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Information rights — how often, and in what form, investors receive reporting.</span></span></li> </ul> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#e6f1fb; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">ℹ️ This is not investment advice. </span></strong><span style="color:black">The purpose of this overview is to help potential investors preselect crowdfunding projects quickly. Before investing, the final selected project should be reviewed in detail based on the information provided by the company on the respective crowdfunding platform, and you may want to seek independent professional advice.<em>Memo generated by AI from public information and platform-disclosed company materials. Investors must perform their own due diligence. Past fundraising or operational performance does not guarantee future results. Crowdfunding investments are illiquid, high-risk, and capital loss is possible.</em></span></span></span></p> </td> </tr> </tbody> </table> <p> </p>
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Platform offering this project
Seedrs GB
Risk Level
Élevé
Return Level
Très Élevé
Risk Return Level
Good
Investissement minimum
GBP 10
Financé
GBP 3392,59M
