- 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.
€ 3,000,000 floor pre-money
€ 4,000,000 cap pre-money
€ 500,000 convertible note
€ 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