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133%
Raised
£519,550
Investors
329
Target
£390,000
Equity
18.43%
Pre-money valuation
£2,300,000

Floom is an online marketplace that makes it easy for consumers to buy high quality & unique flowers from independent florists. Backed by the founders of New Look & AMC Fresh; Floom want to do for flowers what Deliveroo did for takeaway & have seen monthly net revenue grow by an average of 17% MoM

  • Over 350,000 unique visitors since launching in 2016
  • Selected as a Top New Businesses of 2016 by startups.co.uk
  • 40% of their customers are return purchasers
  • Lead by marketing and technical veterans
Information * Owing to ongoing discussions with prospective investors, this campaign has been extended by 7 days and will now close on Saturday the 15th of April. * The company had £87,600 of its SEIS allowance remaining at the start of this raise. This will be allocated to investors on a first come first served basis. Any investments made after that limit has been exceeded will not be SEIS eligible but will potentially be eligible for EIS. The potential tax relief of any investment will be confirmed by email to investors, after they have submitted their applications to invest, and will depend on an investor's individual circumstances. Floom has raised £81,600 from lead investors prior to launching on Crowdcube, which makes up 20% of its funding target and has been reflected on the campaign.

Idea

Floom is designed to solve the problem of finding and sending a quality bouquet of flowers. It is a marketplace that brings flowers crafted by a real florist to the time-poor customer. We are bringing technology, e-commerce and design to an industry that is run by archaic processes and systems. Our research suggests that very few independent florists have e-commerce websites, and have found the large conglomerates that do offer flowers online to have mundane bouquets & a confusing online experience.

Our florists are vetted for quality, their listing photography standardised and their bouquets listed based on the florist's chosen delivery areas. Florists are given access to a dashboard that allows them to add products, set prices, & publish to the website. Customers visit the site, enter the post-code, and choose a bouquet that suits them.

We plan to do for flowers what Deliveroo are doing for takeaway; bringing quality and choice to the customer and championing the local independent business along the way.

The model means Floom holds no risk with what is otherwise a rapidly perishable product, as well as no large warehouse and frozen storage costs.

Trading since March of 2016, over 350,000 unique visitors have been on the site and return purchasers average at 40%, growing by an average of 23% each month.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Floom has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.