GoSolo

GoSolo is platform for local and global entrepreneurs to launch and operate a UK business. Our “startup-in-a-box” pack includes UK company formation, GBP account, UK address and relevant services.

a. Over 9000 users; FCA & Companies House regulated.
b. Processed £26M of payments,
c. 10K transactions per month.
d. Partnered with Google, Grammarly, Stripe, Canva
e. Part of the UK Technation Fintech 5.0 and London & Partners MIBP
f. Our current investors include founders of Grammarly

UK:
5.7 Million Sole to small SMEs in the UK
Growing at >500,000 annually
Generating £1.7 trillion turnover yearly
£14 Billion yearly banking revenue

Our initial target market will be young entrepreneurs and stay-at-home parents.

The first ones are to be found via university campus partnerships (e.g. MSc in Entrepreneurship programs) and Startup networks & communities (Technation, WeWork, etc.)

Stay-at-home parents can be identified via forums (mumsnet) or school communities

After the initial launch in the UK, we plan to expand to Europe and later globally, targeting the countries with strong SME/sole businesses presence (e.g. Portugal)

Starting and running a business is not straightforward if you dont have enterprenerial experience.
Also, international founders find it impossible to launch a startup in the UK and get a business account without living in the country.

GoSolo offers a “startup-in-a-box” that includes UK company formation, business account, UK address and relevant tools and services to run your business effectively. You can look at GoSolo as a UK version of Stripe Atlas.

UK:
Banking - traditional & new banks: Starling, Tide, Mettle, Revolut for Business, Lloyds, HSBC, Anna, Coconut etc.
Accounting: Xero, QuickBooks
Company formation: accountants and services like yourcompanyformations.com.

Product advantages:
Convenience and transparency of service
Peace of mind for the business owner
Ease of use and minimum applications
Cheaper than a similar set of individual products

Team advantage:
Tech team fully available
Strong advisory board
Experience: we have been building and implementing applications for banks for the past 15 years, completed some of the most complex projects both in EE and globally

Tech:
Substantial part of technology is complete

The minimum pack of services from the competition is:
1. Company formation: £20 + £10 monthly subscription
2. Bank account: free (but often with restrictions)
3. Accounting, e.g. XERO: £35 monthly subscription

GoSolo model is to have a monthly subscription for same level of servicing starting at £20-25 per month.

1. Transactional Revenue = charge per transaction (per payment) + card interchange from MasterCard
2. Registration/recurring revenue = £250 per year for international founders
3. Comissions from value add services (insurance, finance, etc)

£400,000 -Target amount of investments:

£250,000 –MVP product development.
£60,000 –Access to SaaS banking providers (KYC, Bank accounts, card processing).
£90,000 –Back Office (Legal, Office rent, HR/Recruitment)

Investment based on the pre-money valuation of £3 Million

Evolution of current banking providers into wider service providers
Effects of corona-virus / economic downturn will limit the possibility of raising next round of financing

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