Addit

Valuation: € 3,000,000 floor pre-money € 4,000,000 cap pre-money Investment round: € 500,000 convertible note Current commitments: € 250,000 – Sofia Angels Ventures SAV is raising € 250,000 from private co-investors Minimum ticket size € 25,000 Private co-investors invest on the same terms as SAV (pari- passu). Co-investors participate through a co-ownership shareholding. SAV is appointed as a representative at the Board and/or Shareholder meetings SAV will organize and lead the deal closing, including: • Legal and financial due diligence • Negotiation of the final transaction documents Fundraising closes on 30.06.2021

banko March 2, 2020 at 3:11 pm
€100,000
Raising amount
€500,000
from Investment Round
  • Details
  • Team
  • Financial projections
  • Use of Capital
  • Deal Parameters

Addit (brand owned by Rentronics OOD, UIL 205791570) is operating since April 2020 and offers subscription-based model for electronic devices and equipment with a B2C and B2B parts. Addit operates currently in Bulgaria but aims to expand rapidly in Eastern and South-East Europe.

Addit is developing a whole new market concept which includes the following components:

Buyit – marketplace for used and refurbished electronics.
Scorit – unique behavioural and payment data analytics.
Lendit – Lend your electronics in an easy and convenient way.
Payit – consumer finance solution.

Since inception Addit has over 600 applications for renting, with average monthly instalment of 60 BGN and portfolio of over 250k BGN. Average rent term is 14 months and default rate (60+DPD) of 4%.

Total addressable market for the Addit universe is around BGN 9.0B.

One thought on “Addit

  1. Anonymous

    The investment capital will be deployed to develop the 3 new lines of business Lendit (EUR 25k), Buyit (EUR 125k) and Payit (EUR 350k), in particular IT and software, hire of key personnel and marketing activities.

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Valuation:
€ 3,000,000 floor pre-money
€ 4,000,000 cap pre-money

Investment round:
€ 500,000 convertible note

Current commitments:
€ 250,000 – Sofia Angels Ventures

SAV is raising € 250,000 from private co-investors
Minimum ticket size € 25,000

Private co-investors invest on the same terms as SAV (pari- passu).
Co-investors participate through a co-ownership shareholding. SAV is appointed as a representative at the Board and/or Shareholder meetings

SAV will organize and lead the deal closing, including:
• Legal and financial due diligence
• Negotiation of the final transaction documents

Fundraising closes on 30.06.2021

    DISCLAIMER