Need some help? Close Help

Oval Money

Platform:
Crowdcube
Stage:
Expansion
Industry:
Business Services
Location:
UK - London
Date Rated:
19/01/18
Raise:
£500,000
Equity:
9.09%
Valuation (Pre Money):
£5,000,550
Industry: Business Services
Location: UK - London
Platform: Crowdcube
£500,000 Expansion
Valuation: £5,500,550
Date Rated: 18/01/18

MANAGEMENT

PRODUCT

INVESTMENT
Tax Status: EIS

Business Summary

Oval Money is an app allowing users to save by setting up regular saving rules such as "round up my transactions" or "save 50p whenever I buy coffee". In the coming months the company will be adding a marketplace allowing users to invest their savings, with firms paying Oval Money for each client. The app is currently available and has circa 10,000 active savers. These funds will be used to further develop the service and to bring additional technical and regulatory expertise on to the team.

Financial Overview

 

 

 

There is insufficient information available to provide a financial overview

 

 

82%
SKILLS:
EXPERIENCE:
COMMITMENT:
The management team is complete. Many members have been recognised for their skills & they are actively involved in the startup ecosystem. At this size of round we would expect to see a CFO.
The team is able to draw on a wealth of experience to guide their decision making. More direct experience in retail banking / investment would be an advantage, but this hasn't held them back so far.
Some members of the team have other current roles elsewhere and some of these may be a distraction, but Oval Money is quite well established so the team should be very committed to it.
79%
MARKET:
PRODUCT:
COMPETITION:
The personal finance app sector has undergone significant growth and this can be expected to continue.
Oval Money has a large number of active savers who give the app very good reviews, with further endorsements from press and blogs. Adding investments will help to diversify the business.
There are a number of competitors in this sector as the market tests what approaches to saving do and don't work. Some of these competitors have been very well funded.
There is insufficient information available to fairly rate this aspect of the business


Conclusion

Oval Money's highly skilled team has built an app that gets good reviews and is helping a lot of people to save some significant amounts of money. Growth will almost certainly not be a problem for the team. Monetisation has yet to be demonstrated though, which leaves the valuation looking very full at this stage.

Investors should note that the company plans a further round later this year with dilution of up to 20%, but pre-emption rights come with a significant price tag of at least £20,000 invested,

Related Links

Crowdcube Pitch

www.ovalmoney.com

 

Right To Reply

Are you the entrepreneur? If you would like to publish a comment on our rating, please contact the ratings team.

Latest Forum Comments

Read All Comments

Disclaimer

The views and opinions expressed on this bulletin board are the sole property and responsibility of the author. Neither Crowdrating nor Wheatfromchaff Ltd, nor any of the directors or officers of Wheatfromchaff Ltd accept any responsibility or liability for them. Readers should be aware that comments do not constitute investment advice and may be inaccurate. Please seek to verify and take advice on all comments before relying on them in the context of any investment decisions you may make. if you wish to use the bulletin board please be aware you are accepting full responsibility and liability for what you write. Please look here for more specific rules we impose on people using our bulletin boards. We moderate all bulletin boards and we reserve the right not to publish your comments.

Disclaimer

Your capital is at risk when you invest in shares and debt securities. You can lose some or all of your money and may not be able to realise your investment. Therefore you should should never invest more than you can afford to lose. If in doubt about the suitability or tax implications of any investment, please seek independent financial advice. 

Information published on this website and any other reports or ratings published on CrowdRating.co.uk or by Wheatfromchaff Limited (trading as Wheatfromchaff) have been prepared by us in the United Kingdom for information purposes only. Wheatfromchaff Ltd is Authorised and Regulated by the Financial Conduct Authority FRN: 751017. 

No content on this website or on any reports or ratings published on this website nor any copy of it, nor any other reports or copies of them published on CrowdRating.co.uk may be reproduced, redistributed or copied in whole or in part for any purpose. Any and all reports have been approved by, and are being distributed in the UK and the European Union (EU) only and are not to be distributed in any other jurisdictions where their distribution may be restricted by law and persons into whose possession this or any other reports come should inform themselves about and observe such restrictions.

This report and any other reports published on CrowdRating.co.uk do not constitute an offer or a solicitation to buy or sell any securities referred to herein. It should not be so construed, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. The information on this website or in reports or ratings published by Wheatfromchaff, or on which this or any other reports are based, has been obtained from sources that Wheatfromchaff believes to be reliable and accurate, and in accordance with COBS 2.4 of the FSA Handbook we have verified it to the best of our ability. However, it has not been independently verified and no representation or warranty, express or implied, is made as to the accuracy or completeness of any information obtained from third parties. The information or opinions are provided as at the date of this report or any other report publication dates and are subject to change without notice. The information and opinions provided in this and any other reports take no account of the investors/ individual circumstances and should not be taken as specific advice on the merits of any investment decision. Investors should consider any or all of the reports or ratings we publish as only a single factor in making any investment decisions.  

Wheatfromchaff does not accept any liability whatsoever for any direct or consequential loss however so arising, directly or indirectly, from any use of this report nor its contents. Investors may receive back less that they invested as investments may fall as well as rise in value. Investors should obtain independent advice based on their own circumstances before making investment decisions. By accepting this report you agree to be bound by the foregoing limitations.

The Ratings we publish have been approved and issued at Financial Promotions in the United Kingdom by Wheatfromchaff in the United Kingdom who is Authorised and Regulated by the Financial Conduct Authority FRN: 751017. Wheatfromchaff Limited registered office is Kilver Court, Kilver Street, Shepton Mallet, Somerset, BA4 5NF and telephone number +44 (0) 1749 347 577. Telephone calls may be recorded. VAT No: 214 0196 49

© Wheatfromchaff Ltd All Rights Reserved 2018