Logix advises on fundraising for men’s wellbeing app
Logix have been working with the founder of an up-and-coming men’s wellbeing app that focusses on three fundamental principles to help men become more self-aware. The app aims to encourage men to incorporate these three principles into their daily routine to improve mood and focus and to help unlock their full potential.
With a number of potential fundraising sources already identified (in both the UK and overseas), Logix were engaged to act in an advisory capacity going forward.
The initial task was to convert the financial information to date into a format required by investors for their application process and to also create a firm base to begin a five-year financial model from.
The financial model was designed primarily to help derive a realistic valuation figure for the business in order to ascertain an equity percentage to pitch to potential investors.
The model was also used to test the financial impact of promotional pricing, the cash flow impact of annual v monthly subscriptions and the impact of different turnover reinvestment percentages into marketing in the early years of business.
Logix also carried out an array of market research, including competitor analysis and pricing to identify a base to use within the financial model and business plan.
Logix has also been working closely with management to scrutinise various cap tables and to assist in liaising with other advisors (legal etc.) on potential deal structuring.
Post-fundraising, Logix will provide outsourced FD/CFO advisory support to the board as well as a wide range of outsourced accountancy and taxation services.
Josh Robinson of Logix says:
“I was first introduced to the founder of this start-up through our mutual peer circle at a men’s health retreat and have a personal passion for this project. The founder has a genuine desire to help men overcome struggle and to thrive and has been working tirelessly to bring this to fruition.
The founder finds strength and courage each day to overcome any setbacks and break through the barrier of doubt often experienced in the early stages of entrepreneurship.
As business advisers, we can assist clients with identifying alternative strategies after setbacks and to reaffirm the light at the end of the tunnel when the challenges come.
Working closely with the founder, we have already overcome many hurdles and we continue to strongly believe in this project. I am excited to see what the future holds.”
Founder of the start-up says:
“Working closely with Logix has been great. What was amazing in the first instance, before any work even got underway, was Logix’s passion for our project and their eagerness to see it succeed. Leaning into Logix’s skills and experiences has been so important as we first set out what needed to be done and Logix effectively delivered as planned! In what has turned out to be a complex case, the communication has been spot on and continues to be as we now look to do more work together.”