Celebrating International Women's Day

Celebrating International Women’s Day

Celebrating International Women’s Day

Tuesday, 8th March 2022, marked the 41st International Women’s Day. Since it was originally named International Working Women’s Day, we believe that it is imperative to recognise the importance of women in the business world. As a leading corporate finance boutique, we have worked with hundreds of professional women and are delighted to see the increase of women in powerful positions within the workplace.

To celebrate this year’s International Women’s Day, we partnered up with She Almighty and Home Grown to host an event that was centred around connecting aspirational and inspirational women, mission-led leaders and founders - to share their stories, challenges and experiences. Our aim was to allow for a space where we could discuss how we can raise one another, break the bias to further gender equality and help people and planet whilst doing so. The event also featured a particular focus on female entrepreneurial leaders who have been through the process of growing their own business, raising funds for their business, or had sold a business.

international women's day

Host Mikaela Jackson, award-winning coach and founder of She Almighty, was joined by four female entrepreneurs, two of which Bluebox has helped on their respective business journeys, to discuss their stories, challenges, and experiences. Kate Bell, Ariana Alexander-Sefre, Angel Noorbakhsh Ashman and Georgia Metcalfe highlighted their experiences as female-founders and mission-led leaders and shared the advice they would give to their younger selves. They also discussed how they had led, run their own, raised capital or sold a business and the challenges faced along the way and how they overcame these. An interesting recommendation from the event was to read the book ‘The Defining Decade: Why your Twenties matter and how to make the most of them now’ by Dr. Meg Jay.

It was fantastic to see so many women gathered in one room to listen to our speakers. As a private member’s club that provides entrepreneurial pioneers with unique resources to unlock their true value of their business potential, Home Grown was the perfect space for the panelists to intimately share their stories. The event was also a great opportunity to professionally connect with other women and reflect upon our own personal and professional journeys to date. All proceeds from the event went to support girls, women and worthy causes worldwide through B1G1. B1G1 is an inspirational organisation that helps businesses to give back in meaningful ways and have worked with over 3,000 businesses around the world, creating over 270 million giving impacts to date. Here is a summary of the B1G1 contribution we were able to make via our proceeds:

  • 300 dollars to provide emergency relief support in Ukraine
  • 20 days of support for a survivor of sexual abuse through performing arts
  • 30 days of support for local women ‘PeaceMakers’ to prevent domestic violence
  • days of empowerment for women leaders
  • 1,000 social media awareness to women at risk of domestic violence
  • 20 days of education for girls in Kinshasa
  • 100 days of vocational training
  • days of business training program to women in Zambia
  • 20 days of access to health awareness sessions
  • 30 days of access to training sessions for young parents

A key takeaway from the event is that you must find your own group of people who will support you through both exciting and challenging times. We find this to be extremely relevant to us as a business as we strive to ensure constant support and collaboration within our team. We hope that this will be the first of many Velocity women’s events that celebrate the inspiring work that women do all around the world.


insurtech

Sector Update: Fintech – InsurTech

Sector Update: Fintech – InsurTech

M&A Seed / Venture Stage Update

insurtech

Current Market and Predictions for 2022:

The pandemic has been one of the major disruptors of the insurance industry in recent years. And although pandemic-related restrictions have eased across the country, the future remains uncertain as new variants arise to threaten what little progress has been made.  All around the world, and in most industries, the pandemic accelerated digital transformation. For the insurance industry, the role of technology in all aspects of operations is now essential, especially as more people take up flexible working or decide to work remotely for the foreseeable future.  These new developments are forcing business leaders to re-evaluate how their business operations and user experience fit with what customers expect in a technologically advanced world.

In 2022, InsurTech will be key to modernising technology stacks to get the most value from IoT, data, and cloud. As such, InsurTech will become the norm; with SaaS-based solutions built on APIs put in place to deliver personalisation on a grand scale. Due to the level of competition in the market, the modernisation of the insurance industry will continue to grow at a fast pace. And its maturity will depend on the richness of solutions InsurTech makes possible. 

 

Recent Fundraising Activity -

  1. Laka provides insurance products for cyclists and their bikes. £8.85m fundraising secured from 1818 Venture Capital, ABN AMRO, Autotech Ventures, Business Angels, Creandum, Elkstone Capital, Local Globle and Ponooc. 26/01/2022
  2. Nimbla - develops software that provides SMEs with invoice insurance services. £5.10m fundraising secured from Barclays, Fin Venture Capital and undisclosed investors. 03/11/2021
  3. Zing Cover - develops an online platform and mobile app that provides insurance services for e-commerce businesses. £50k fundraising secured from undisclosed investors. 15/10/2021
  4. Coincover - develops security software designed to ensure users do not lose access to their digital assets, as well as providing cryptocurrency insurance services. £5.05m fundraising secured from Avon Ventures, CMT Digital, DRW Venture Capital, Element Ventures, FinTech Collective, InsurTech Gateway, Technology Venture Investments and Valor Equity Partners. 30/06/2021

 

Recent M&A Activity - 

  1. Kwalitas - provides a range of business services including finance, merchant, EPoS, insurance and accountancy. The company was acquired by DNA payments for an undisclosed sum. 01/02/2022
  2. Digital Fine Print – The company uses social information to enhance insurance provision, for example by using social information to automate underwriting or form-filling. The company was acquired by hubb for an undisclosed sum. 06/12/2021.
  3. Brolly – the company develops software that allows users to manage and assess their insurance cover policies. The company was acquired by Direct Line Group for an undisclosed sum. 16/07/2020.

We’ve worked with a range of Fintech companies on their investment journeys. If you’re thinking about raising finance or selling your businesses and would like to explore your options, feel free to get in touch with us via this link or email us at info@blueboxvelocity.com.


staff interview

Staff Interview: Emily Burdass, Customer Success Manager

Staff Interview: Emily Burdass, Customer Success Manager

 

staff interview

We sat down with our new Customer Success Manager, Emily Burdass, to get to know her a bit better. We chat about her background prior to joining Bluebox and what she enjoys about her role.

 

What was your background prior to joining Bluebox Velocity?

Over two years ago I completed a degree in International Business and Marketing. Prior to joining BlueBox, I was a Commercial Operations Assistant at Yorkshire Headingley Cricket Ground and then an Administration Assistant at the Australian Broadcasting Corporation in Sydney, Australia.

 

What were your motivations behind deciding to join Bluebox Velocity?

My motivation for joining Bluebox Velocity was that I had never seen or heard something like this product before. It was very exciting to me and something I wanted to be a part of. The world of business and finance has always interested me so this way I got to be involved with both everyday.

 

What is your biggest achievement to date – personal or professional?

Achieving a first class honours at University whilst also working at the same time is something I am very proud of.

 

What is the best advice you have ever received?

“There is opportunity in chaos” –  I really liked this as I do feel that when things may not be going how you would like them to be, you can still learn and take things from the experience. There is always something valuable to be learned and an opportunity to grow.

 

What do you enjoy most about your role?

I enjoy the fact that everyday I get to hear about new business ideas and how/why entrepreneurs started their companies. I find it inspiring that they took the leap of faith starting their respective businesses and the motivation behind doing so is very interesting. I also enjoy when our clients have really positive meetings with investors we have sourced for them and the excitement for what’s to come.

 

What’s something you know now but didn’t know before working at Bluebox Velocity?

I knew very little about the various types of investors that can invest into companies. For example, Strategics/VC’s/Angel investors all of which I have learnt bring different aspects to a business.

 

What’s your ideal way to spend a Saturday?

With friends - going to some sort of gym class followed by drinks in the sun. I am new to London so every weekend I aim to explore a new area.

 

What would you do if you won the lottery?

Firstly, I would book a holiday to the Maldives. Then I would purchase a load of property and start renting them out. (I would also give some away to my family/friends & donate some to charity)

 

Rapid fire:

  1. Any hidden talents? – Sadly not
  2. If you could have one superpower, what would it be? –  Replication – so that I could have one Emily at work and one Emily on Holiday.
  3. Ketchup or Mayo? – Mayo
  4. If you could have dinner with anyone, dead or alive, who would it be? – Steven Bartlett

Open banking and finance

Sector Update: Fintech – Open Banking & Finance

Sector Update: Fintech – Open Banking & Finance

M&A Seed / Venture Stage Update

Open banking and finance

Current Market and Predictions for 2022:

Recent articles suggest that UK banks will continue to invest heavily in open banking technology as user adoption grows. The data, which analyses the average open banking API response times across 10 of the UK’s top traditional banks, reveals that 100% of banks have improved their response speed between 2020 and 2021, in some cases by up to 37%. As of the end of 2021, over 26.6 million cumulative open banking payments had been made in the UK, an increase of more than 500% in 12 months.

The CMA have also recently ruled for Variable Recurring Payments (VRP) to become mandatory for sweeping (transfer of money between consumers’ accounts), marking a significant step for open banking, by helping customers to avoid overdraft fees and top-up other accounts automatically. With similar improvements in end-user experience, the open banking market is set to see continuing growth and investment through 2022.

Recent Fundraising Activity -

  1. DigiDoe - DigiDoe develops a mobile banking app that allows users to open a current account, make instant e-payments, and budget their money. £850k fundraising for a 10.9% stake. Seed stage – 11/01/2022
  2. Triple - Triple develops white label loyalty scheme software including cashback for banking apps and rewards programmes for retailers.  £470k fundraising for a 12% stake. Pre-money valuation of £3.50m.
  3. IDFinance - IDFinance develops a mobile app that aims to provide loans to consumers who may otherwise be refused loans or charged high rates. £2.88m fundraising. Growth Stage 02/12/2021.
  4. Synalogik - Synalogik develops a data agnostic software used in automation collection that allows users to switch between a range of data suppliers, focusing on criminality through identifying red flags in data intelligence gathering. £3.00m fundraising at venture stage. 24/01/2022
  5. 1CARD - 1CARD is a Fintech start-up with an innovative offering that goes beyond merely payments. It leverages Open Banking along with a very interesting concept to offer a better value-add than the incumbents, to both customers and merchants. £152k fundraising for a 4% stake. Seed stage 03/11/2021

 

Recent M&A Activity - 

  1. FDB Systems - FDB Systems develops analysis and aggregation software products for the finance sector. FDB Systems was acquired by Insig Ai for £4.00m. 24/11/21.
  2. Trezeo - Trezeo develops a business membership account for independent workers to organise payments to improve financial stability and access additional services such as insurance. Tezeo was acquired by Monese for an undisclosed sum. 20/12/21
  3. Rooster Money - RoosterMoney develops a mobile and desktop app designed for parents and children to keep track of pocket money, as well as providing its own Rooster Card which allows children to make their own spending choices via a prepaid card with parental oversight and monitoring tools. Rooster Money was acquired by Natwest for an undisclosed amount. 06/10/2021.
  4. RateSetter - RateSetter has developed a peer-to-peer website that allows ordinary people to lend money to one another. Borrowers say how much money they need, then they set the interest rate they’re happy to pay. RateSetter was acquired by Metro Bank for £3.00m. 03/08/2020.

We’ve worked with a range of Fintech companies on their investment journeys. If you’re thinking about raising finance or selling your businesses and would like to explore your options, feel free to get in touch with us via this link or email us at info@blueboxvelocity.com.


sale exercise

When should I start preparing for a sale exercise?

When should I start preparing for a sale exercise?

 

Our sister company, Bluebox recently undertook a poll asking, “At what point before you sell your business should you start preparing for a sale exercise?” Interestingly, 53% of participants said 2-3 years prior, while 47% said about one year prior. Evidently opinions were quite divided on the subject.

 

Planning is key to the successful outcome of any sale process. Ineffective pre-sale planning results in lost value for shareholders and in many more instances will result in a business failing to sell entirely. A key component to effective preparation is allowing sufficient time to do so.

 

We seek to engage with clients as early as possible before taking their business through a sale exercise. Each sale process that we work on presents different challenges and issues for sellers to consider. We work closely with sellers to identify and address these issues in advance of taking their business to market. Engaging in pre-sale planning 2-3 years out allows both sellers and advisors the time to recognize and anticipate issues well in advance. Sellers can then take the necessary steps putting plans and strategies in place to address these.

 

Sellers who have allowed themselves time to understand how their business presents to the market will be able to make informed decisions around key considerations in advance of a sale exercise. A well-prepared business puts sellers on front foot when entering a sale exercise, enabling advisors to drive deal momentum and competition in the market, achieving the best possible price for the business.

 

Where sellers haven’t taken the time to ensure sufficient pre-sale planning has been undertaken, they risk being presented with difficult negotiating points mid process such as price chipping from buyers or requirements that sellers assume liability for issues post completion. Sale exercises will run to tighter timetables mid process and sellers will not have the same time at their disposal than they have pre-sale to deal with issues. When issues come out in due diligence sellers find themselves on the back foot in price negotiation. Significant issues arising mid process creates a risk that less advantageous solutions are adopted.

 

There are a number of key considerations common to all pre-sale exercises. Sellers with more time find optimal solutions to value destroyers and implement strategies that achieve the best results in a sale exercise. Bluebox uses time with sellers pre entering a sale exercise to walk through the business and ask questions such as:

 

  • Are there any gaps in key customer or supplier contracts including change of control clauses?
  • Does the business have the necessary operating licences, accreditations, consents, planning permissions, and control of its IP?
  • Do assets need to be moved in or out of the target company and have tax efficient structures been considered?
  • Are key employee contracts in place committing valuable individuals to the business while also protecting business IP and restricting against non-solicitation of customers and staff.
  • Have we explored what a realistic valuation is for the business?
  • Have we implemented growth strategies and cost reductions, and managed working capital to present the most favourable financial position and projections of the business?
  • Have we prepared for buyer/vendor due diligence and are the sellers aware of what this involves?

 

Effective pre-sale planning leads to better deal terms and this simply takes time. Sellers who give themselves time to engage with preparing their business for a sale exercise are best positioned to maintain control of the process, which is crucial to negotiating best possible deal terms, driving deal momentum.

 

If you are thinking about selling your business and would like to make the process as smooth as possible, we would welcome an exploratory chat. Get in touch with us today via this link or email us at info@blueboxvelocity.com


Zip Us In

Entrepreneur Interview: Kate Bell of Zip Us In

Entrepreneur Interview: Kate Bell of Zip Us In

 

We chat with Kate Bell, Founder of Zip us In, a maternity clothing brand focused on sustainability with innovative designs created to fit you before, during & after pregnancy. We learn about how Kate's maternity clothing business started, what makes it unique in the market, as well as her hopes for the future of the business. Kate also shares some pointers for entrepreneurs thinking about starting their own business.

Zip us in

1. What was your backgrounds prior to setting up Zip Us In?

I am a second time entrepreneur and proud mother to two daughters. After watching my parents build a successful print business, I knew I wanted to run my own company one day. I started my first business in 2004 after being made redundant and as a single parent, my childcare options were limited. I called my parents, who were then retired and travelling the world, devastated that I had lost my job. My Mum reminded me that being employed had never been part of my long-term goal and that this presented a great opportunity to begin working for myself. “It’s Fate”, she said, and so that’s the name I gave my first limited company. My first business, a marketing agency, has grown from strength to strength and in 2014 I launched my second business that disrupted the maternity clothing sector - Zip Us In.

 

2. How did the idea of Zip Us In come about?

In February 2013 on a cold visit to Weymouth, I discovered I had hit the point in pregnancy where my increasing belly would no longer fit in to the Berghaus jacket that I had brought just weeks before discovering I was pregnant. My choice was to either invest in a maternity coat at around £80+, try and make it through the final 3 months with what I had, or create my own solution.

I turned to my Mum to help me knock up something that could expand my own jacket. The result was a panel of waterproof soft-shell that I could zip straight into my own jacket. This useful item not only become essential to me, but I was often stopped by other parents when using it to ask where it had been purchased. The Entrepreneur in me realised quickly that this solution solved a simple problem for me and therefore would probably be useful to lots of others too. The panel design was submitted for a patent, and I found just the right person to start producing the Zip Us In panels to order. With 12 years’ experience in running a marketing agency, it didn’t take me long to create a brand and launch a website and my maternity clothing company Zip Us In was born!

 

3. What was most challenging about running your own business?

Running a business is a little like riding on the most insane roller coaster while wearing a blindfold. You chose to take the big step and get on board and you're excited about the experience ahead. There will be fantastic highs, most of which you'll be moving so fast, you might not even get a chance to lift the blindfold and enjoy the view. No matter how prepared you believe you are for whatever big drop might be on the tracks ahead, they still seem to hit you out of the blue and make your tummy flip. It’s during these unexpected, inevitable dips that you may realise that although you have worked hard to prepare your business for any eventuality, did you prepare yourself? You’ll find a mass of information out there about the tools you need to equip yourself with to be a successful business owner. Things such as, leadership skills, self-motivation, task prioritization and financial understand are things often associated with successful business owners. In my opinion there is one set of tools that should be noted as the most important and can often be overlooked. Tools to manage your own mental health are without a doubt vital to running any business. Knowing your limits, understanding your own signals, and having the tools at hand for when the rollercoaster drops, will be key to the future of your business.

 

4. What is unique about your business in the maternity clothing market?

In 2015 when Zip Us In products hit Boots stores across the UK, ‘Jacket Expander Panel’ wasn’t a term searched for on google. Now it’s often the third highest searched for maternity product.  My business created an entire new innovation that has solved a simple problem for over 30,000 people all over the world. With our patented and protected designs, we now plan to disrupt the maternity clothing industry even further with unique pieces that enable woman to continue wearing the clothes they love and that make them feel the best version of themselves, no matter how their body shape may change.

 

5. How has the Coronavirus pandemic affected the business, and what contingency plans were put in place to ensure survival?

It’s been an interesting few years. Initially we saw a real spike in sales with more people getting outdoors and walking. It was also great to see consumers taking time to shop around and find smaller independent brands rather than quickly turning to their usual shopping channels. We were very fortunate that just prior to lockdown, we had started working with a second manufacturer. I would always advice to have more than one supply options and this foresight really helped when supply slowed down during the pandemic. We have now taken on a 3rd factory so we have all bases covered and we can forecast and ensure supply is always ready to keep up with demand.

 

6. What 2 personality traits do you believe make a good business owner and leader?

Tenacity and self-awareness.

I have been described as stubborn, determined and persistent. Whatever you choose to call it, the ability to put your head down and just keep going no matter what, is a huge advantage when running a business. I have successfully pivoted, adapted, learnt but never quit.

Self-awareness is an ever-evolving trait, but when you began to master it, it’s an absolute game changer. I know my strengths and am equally honest about my weaknesses. I use my skills to find the right people to fill the gaps and continuously work on improving the areas that need it. I understand what I need to be the best version of myself; for example I know that I need daily exercise to maintain my physical and mental health and for me that’s non-negotiable.

 

7. If you had the chance to start Zip Us In over again, would you do anything differently?

Most definitely not. I have made my share of mistakes along the way, and I understand how essential each one of those mistakes has been to the development of both the company and myself. Every crisis, every challenge and every mistake is an opportunity to learn and improve. We have truly tried and tested our product designs and our operations hitting many difficult times along the way. These processes are now much more reliable and as a company our foundations are stronger because of these experiences.

 

8. What advice would you give to a young entrepreneur starting up their own business?
Find the right cheerleaders and keep them close. Being an entrepreneur can be a lonely journey, you will need a support crew; people that will build you up with positive encouragement but also give you an opportunity to see your choices from all angles. Surrounding yourself with people that inspire you and keep you motivated will make the rollercoaster a much easier ride. After all it’s the people we choose to have in our lives that really make a difference to how we perceive our own success.

 

9. Where do you see the business going in the future?

Zip Us In brought to the market a new concept in maternity clothing. The jacket expander panel has proved the success of our concept and we’re now poised to take this business to the next level. We see an incredible opportunity for growth ahead of us, not only with our existing products, but with a suite of new innovations that we will launch over the next few years in both the UK and internationally. We aim to be the market leader for adaptable and multifunctional clothing, using innovation to reduce the amount of fabric that ends up in landfill. The fashion industry is the second largest polluter globally and is in need of disruption to really make significant changes to the damage caused by fast fashion. We believe our ALTERNITY range will provide exactly that; ever evolving clever clothing created in sustainable fabrics and designed to last a lifetime.

 

10. How can firms and individuals, who come across Zip Us In, support the business?

First and foremost, I’d love everyone to join my mission to reduce textile wastage. Look for sustainable options that provide clothing to last a lifetime. A Zip Us In Jacket Expander Panel is just one example of a fabric saving solution, let’s be more clever with our clothing purchases. Take a look at our website for news on the new ALTERNITY range, adaptable clothing solutions that grow with the wearer. If you feel a passion towards this cause and are as excited as me at the prospect of disrupting the fashion industry and bringing an end to fast fashion, why not join our team as a shareholder. You can find out more

 

11. Any final words for our Bluebox community?

I have often been heard saying "You don't know, what you don't know, until you know it". Just when you think you have learnt as much as you can about your industry or your business, you are given an insight that changes everything. Each new lesson advances you further and you can often wonder how on earth you managed before you learnt that single valuable thing. I am always looking for new information, always wanting to know more, to learn, adapt and grow, standing still is never an option. I hope there is still much more for me to learn and the more I learn, the more I have to share.

 

zip us in

Rapid Fire:

  1. If you could have one superpower what would it be? Pause time. The most precious commodity of all. I have a long list of things I want to achieve and adventures I want to enjoy and there never seems to be quite enough time to fit it all in.
  2. Name 1 person, past or present you would like to have dinner with – Abraham Lincoln. I live my life by his wises words “And in the end, it’s not the years in your life that count. It’s the life in your years.” For these words that will always inspire me, I owe the guy dinner.
  3. Three things to take onto a desert island? Music, Coffee, a Lee Child Novel
  4. Hot or cold holiday? Hot, I adore the sunshine and love being outdoors. I am in my element near the sea                         

Zip Us In                                 

Contact: Kate Bell, Founder
Email: kate@zipusin.co.uk

Number: +447747 171117

 

 

If you’re thinking about raising finance for your business and need some assistance, we would be delighted to have an informal and confidential chat to discuss your options in more detail. Book a call via this link or email us at info@blueboxvelocity.com.


Blockchain software development

Sector Update: Fintech – Blockchain Software Development

Sector Update: Fintech – Blockchain Software Development

M&A Seed / Venture Stage Update

Blockchain software development

Current Market and Predictions for 2022:

Global investment in the crypto and blockchain software space rose dramatically from $5.4 billion in 2020 to a record high of $30 billion in 2021, while the number of deals rose from 627 to 1,332 over the same period. The sector also saw numerous large deals, including the $1 billion raise by Bahamas-based FTX, a $767 million raise by US-based NYDIG and a $750 million raise by Celsius Network. The surging investment and deal activity in blockchain software reflects growing recognition for the potential role of crypto and its underlying technologies in modern financial systems.

Cryptocurrencies and blockchain are expected to remain very hot areas of investment in 2022, with more crypto firms looking to regulators to provide clear guidance on activities in order to help foster and develop the space.

 

Recent Fundraising Activity - 

  1. SETL - SETL develops blockchain technology for the financial services industry, allowing users to conduct real-time multi-asset and multi-currency transactions between themselves. £500k equity investment from an undisclosed investor. Venture stage. 18/12/2021
  2. Interlay - Interlay develops platforms which help users to invest and exchange cryptocurrencies. £4.74m equity investment from D1 Capital Partners, Digital Finance Group, Hypersphere etc. Venture stage – 13/01/2022
  3. Vizidox - Vizidox operates a blockchain-based data management platform. £250k equity investment for a 2.4% stake by an undisclosed investor. Seed stage – 16/11/2021
  4. Unstoppable Finance - Unstoppable Finance aims to enable individuals to interact with blockchain applications through its online platform. £3.77m equity investment by Backed VC, Business Angels, Discovery Ventures etc. Venture stage – 20/10/2021.

 

Recent M&A Activity - 

  1. LAB577 - LAB577 provides software development services for the finance industry. The company was acquired by BCB Group for an undisclosed amount. Venture stage – 02/02/2022
  2. Invo - Ivno develops software designed to act as a marketplace for the institutional trading of digital assets. The company was acquired by R3 for an undisclosed amount. Seed stage – 12/10/2021
  3. AiX - AiX develops an artificial intelligence-based trading broker for both regular trading and cryptocurrencies, using chatbots to feed back analysis to users. The company was acquired by Blockchain.com for an undisclosed amount. Venture stage – 15/05/21.

 

We've worked with a range of Fintech companies on their investment journeys. If you're thinking about raising finance or selling your businesses and would like to explore your options, feel free to get in touch with us via this link or email us at info@blueboxvelocity.com.


Actve

Entrepreneur Interview: Jack Peagam of Actve

Entrepreneur Interview: Jack Peagam of Actve

 

We had the pleasure of getting to know, Jack Peagam, Co-Founder of Actve, an online fitness platform where trainers, social media influencers and athletes share their real-time workouts and guided programs. Actve empowers creators to build a subscription business and offer their exclusive content, providing all the tools needed to enhance the interactivity and experience for the consumer.

We chat to Jack about how the business started, what makes it unique in the market, as well as his hopes for the future of his online fitness business. Jack also shares some pointers for entrepreneurs thinking about starting their own business.

 

Actve

 

  1. What was your background prior to setting up Actve?

I worked in the film industry for a good number of years as a Camera Operator, which entailed travelling the world working on all different types of projects from commercials, to music videos, to documentaries. Creating content and making films was a passion of mine since I was very young.

 

  1. How did the idea of Actve come about?

The idea of Actve was born in the very first lockdown in 2020. I’ve always been an avid fitness enthusiast and followed the industry very closely. When gyms closed and the digital fitness industry had a huge surge, fitness professionals very quickly had to pivot to online training. With no access to a gym, I started looking at how I could keep my fitness routine in motion at home, and consequently this led me to look at the landscape in a lot more depth and it became very apparent that there wasn’t a direct solution for fitness creators to monetise their content (apart from YouTube which you’d need millions of views to even get by). Aside from Zoom workouts with a PayPal.me link, there was no streamlined way for these fitness creators to earn a living. The industry is calling out for a solution, so I created Actve which will improve the current landscape, allowing fitness creators to build a subscription business by providing exclusive content to their followers.

 

  1. What was most challenging about starting your own business?

I was adamant that the platform that we built had to be built from scratch, with no off-the-shelf solutions – that way we own all of the IP. This means to build a platform of the scale at which I wanted to achieve, it required a lot of development work and a lot of up front capital. Firstly, I do not come from a tech background (although I’m a pretty ‘techy’ person), coding is a whole other world to me. Secondly, as a first-time founder, trying to raise funds for essentially just an idea was definitely the most challenging phase. I spent months reaching out to individuals over LinkedIn for advice and guidance to put me on the best track to begin a fundraise, which fortunately resulted in myself forming a team of a Co-Founder and two very credible Non-Executive Directors with a tech background. It wasn’t an easy ride from there however, as I spent the next few months on endless Zoom calls (we were still in lockdown at this point) with investors, convincing them that we had what it takes to build the next big thing. With a bit of perseverance, we managed to secure enough upfront capital (£200K+) to action the build of the platform.

 

  1. What is unique about your business in the market?

We're providing a platform for the new wave of fitness creators that are currently active on various social channels (YouTube, Instagram, TikTok, etc), who are looking to monetise their content and build a subscription business for their 'exclusive' content. We're a community-driven online fitness platform - not only are we providing content, we're allowing personable relationships to be built in a whole new experience that you can't get anywhere else.

Existing online fitness platforms in the market simply provide their own in-house content with their in-house trainers. Creators are the heart of our business - we provide a space for them to create exclusive fitness content for their audience to consume and interact with, and monetise from their own content that they create. In-house trainers on existing platforms are either subject to a salary or monthly retainer, whereas if you become an Actve creator, there is no limit to the amount you earn from your own content. Popular creators on Actve will be earning over 6 figures a month, and we provide the tech to enhance the experience that they can offer their audience.

 

  1. What 2 personality traits do you believe make a good business owner and leader?

Creativity and Optimism. I might be biased because I’m a creative at heart, but this is how I’m able to execute my vision and how I can easily communicate to my team members what I want and need to be done. Not only this, but it’s innovation that will propel your business forward. Building a profitable company isn’t the hard part, it’s keeping it profitable over the course of decades that's difficult. Not to undermine hard work as that is integral, but too many entrepreneurs just think if they put the hours in they’ll get the results. That’s just not true, there is a significant amount of creativity involved in the execution if you really want to be the leaders in the market. In regard to being optimistic, as the legendary tech evangelist Guy Kawasaki said “To be an entrepreneur, you have to be a delusional optimist” and I couldn’t agree with this statement more. As business owners, we’re not looking to make a quick buck, we’re looking to change the world and to some people you genuinely might sound off your head. In the face of challenges, the delusional optimist has an uncanny ability to raise morale, motivation and performance, thereby increasing chances of success.

 

  1. If you had the chance to start Actve over again, would you do anything differently?

I’ve learnt so much the last two years; I have made very naïve mistakes and decisions, but I don’t regret any of that as it’s all part of the journey. You could say that we should have built a more ‘lean’ MVP and launched to market earlier, but to be honest I’m so confident and proud with the product that we’re building, that my perfectionism wouldn’t want it any other way. We’re pre-launch (launching May 2022), so we’re still at the beginning of our journey and ready to embrace any challenge that comes our way.

 

  1. What advice would you give to a young entrepreneur starting up their own business?

Starting a business takes blood, sweat and (lots of) tears, and requires a lot of your time. You might have to skip the odd weekend at your local bar or potentially even turn down a Netflix and chill night with your girlfriend. Be willing to make sacrifices. That being said however, which is a trap I’ve fallen into before, is learn when to take a break and switch off. I’ve gone days without sleep and just continued working and I can tell you first hand, you will be less productive, the quality of your decisions will decline, and you will have more problems, more stress, and less sleep. Sleep is integral. Secondly, if you’re currently flying solo, you’re never going to feel more alone, so find yourself a co-founder who you trust and who has skills that you don’t have. Starting a business is hard, really hard. While struggling to keep your head above water isn’t terribly fun, doing it alone is much worse.

 

  1. Where do you see your online fitness business going in the future?

As mentioned earlier, we’re pre-launch, so our priority right now is to finalise the build of our product and go to market. Actve is very scalable and there are a lot of avenues we can tap into in the future, so it’s focusing on launch and then to the moon!

 

  1. Any final words for our Bluebox community?

I hope that gives you a good insight into Actve and myself as the Founder. We are welcoming any conversations in regard to investment or partnerships or feel free to get in touch if you simply want to chat and bounce ideas around!

 

Actve

 

Rapid Fire:

  1. If you could have one superpower what would it be? Teleportation
  2. Name 1 person, past or present you would like to have dinner with. Elon Musk
  3. Three things to take onto a desert island? A laptop, WiFi dongle and a Hammock
  4. Sunrises or sunsets? Sunrise

 

Actve

 

Contact: Jack Peagam, Co-Founder
Email: jack@actve.com

Number: +447841392122

 

 

If you’re thinking about raising finance for your business and need some assistance, we would be delighted to have an informal and confidential chat to discuss your options in more detail. Book a call via this link or email us at info@blueboxvelocity.com.


Transactions for behavioural health

Sector Update: Health Tech – Transactions for Behavioural Health Platforms

Sector Update: Health Tech – Transactions for Behavioural Health Platforms

M&A Seed / Venture Stage Update

 

Transactions for behavioural health

 

M&A Overview 2021 and 2022 Predictions:

Transactions for behavioural health providers kicked off the year strong, with 35 deals registered in the first quarter (Q1) of 2021, according to a new report published by health care M&A advisory firm Mertz Taggart. That was more than the number of deals logged in each of the four quarters of 2020. In between, no less than 30 deals occurred each in Q2 and Q3 2021 before ending the year with a record-high 49 transactions in Q4. 2022 looks to be another strong year as the sector gets more traction as a whole.

 

Recent Fundraising Activity –

  1. Bloss - Bloss develops an app, which allows users to connect with professional consultants to seek advice about issues surrounding pregnancy, parenting, and mental wellbeing. £450k fundraising for a 20.1% stake. Seed stage – 24/01/2022
  2. PsyOmics - PsyOmics is developing new ways to diagnose mental health disorders, in order to improve misdiagnosis and accelerate time to treatment. £2.00m fundraising for a 25.2% stake. Seed stage – 17/01/2022
  3. Isoshealth - isoshealth develops a platform which allows users to connect with and consult qualified experts in nutrition, mental health, and physical well-being. £140k fundraising for a 10.4%. Venture stage – 31/12/2021
  4. Sanctus - Sanctus aims to raise awareness of mental health in several ways such as through workshops for businesses. £3.79m fundraising for a 40.8% stake. Venture stage – 16/12/2021
  5. TalkLife - TalkLife has developed an online support network where young people with mental health issues can interact with and receive support from each other and from healthcare professionals. £397k fundraising for a 3.8% equity. Venture stage – 10/12/2021

 

Recent M&A Activity –

  1. Sequence Care Group - Sequence Care Group (formerly known as Curocare) provides residential care to sufferers of mental disorders and learning difficulties. The company was acquired by Intriva Capital for an undisclosed amount. 29/09/2021
  2. Tomo - Tomo develops mobile app software that allows users to track habits that contribute to a healthy and happy lifestyle. The company was acquired by ICAS World for an undisclosed amount. 25/05/2021.
  3. Breaking Free Online - Breaking Free Group is a high social impact company whose mission is to increase people's access to effective behaviour change interventions and empower them to overcome their addictive behaviours, wherever possible through self-management. The company was acquired by Lifeworks for an undisclosed sum. 24/01/2022

 

If you're thinking about raising finance or selling your businesses and would like to explore your options, feel free to get in touch with us via this link or email us at info@blueboxvelocity.com.


Amy O'Donovan: Marketing & Team Assistant

Staff Interview: Amy O'Donovan, Marketing & Team Assistant

Staff Interview: Amy O'Donovan, Marketing & Team Assistant

 

We sat down with our new Marketing & Team Assistant, Amy O'Donovan, to get to know her a bit better. We chat about why she chose a career Marketing at Bluebox and what a typical work day looks like for her.

 

What was your background prior to joining Bluebox?

I was born in Cork, Ireland, and graduated from University College Cork with a bachelor’s degree in Economics and Geography in 2020. I always had an interest in business, so I decided to do a master’s in Management and Marketing. As a result of the pandemic, the course was taught fully online which was a completely different experience. Although it was challenging at times, I was over the moon to receive a 1.1 result overall. Prior to moving to London and joining Bluebox, I completed a work placement with an Aerospace & Recruiting company as a Sales and Marketing intern.

 

What were your motivations behind choosing a career in Marketing within Bluebox?

Firstly, before joining Bluebox, I wasn't extremely well versed in corporate finance and was therefore excited to have the opportunity to learn more about it from experts in the field. Within the space of a couple of weeks, I have learnt so much new information already. As a recent graduate, a career in marketing at Bluebox is the perfect opportunity for me to build my network and develop a range of skills so that I can help the company with all aspects of the business. Marketing is so diverse and the fact that every day can be different is exciting to me!

 

What is your biggest achievement to date – personal or professional?

This would have to be achieving a 1.1 result in my Applied Research project as part of my master’s degree, which I had to complete whilst simultaneously working a 9-5 internship.

 

What’s the best advice you’ve ever received?

Never be afraid to ask questions. Being new at Bluebox, I’ve had to ask a lot of questions as it is a whole new environment. I used to get anxious thinking a question was silly but from experience, I’ve learnt there is never a stupid question so just go for it!

 

What does a day at Bluebox look like for you?

Working alongside Lauren, every day is different which is what makes work interesting for me. My day-to-day tasks include lead generation, creating marketing content, helping with the organisation of events, and assisting the rest of the team where necessary.

 

Other than London, where would you like to live/work and why?

If I could live anywhere in the world, it would probably be one of the Caribbean islands - somewhere with lots of beaches, sun, and warm water that you can swim in all year round! I also really loved Thailand when I was there three years ago. It was so cheap I couldn't believe it, and I absolutely loved the food. Maybe I might relocate to somewhere in South-East Asia in the future.

 

Rapid fire

Morning or evening person? Evening

If you could have one superpower, what would it be? The ability to fly would be super helpful – I could visit my family in Ireland whenever I want and travel the world!

What’s something you could eat for a week straight? Katsu Curry from Wagamama's

If you could talk to one animal for a day, what would it be? My cat!