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The deal at a glance, no code needed
The headline figures of the round. Detail (assumptions, cap table, financial model) is reserved for qualified investors.
Pre-traction: every figure below is a projection of the reference plan, not revenue. No pilot has been launched, no letter of intent has been signed and there is no revenue.
including €2.6M of new capital (shares issued to investors) and €1.7M of loan that does not dilute shareholders (loan terms to be confirmed)
Assumed value, to be substantiated. €10.6M after the round; new investors hold 24.5% of the capital
- Salaries and team48.1%
- Sales and marketing30.3%
- Product and technology12.3%
- Legal, compliance, administration9.3%
- Maximum need, nominal case
- €2.95M
- Maximum need, resilience test
- €3.81M
- Left at the lowest point, resilience test
- €494k
The real need is what the company must fund at the peak of its cash use: the round (new capital and loan) covers it in every scenario, including the harshest, provided the loan is confirmed: the new capital alone (€2.6M) is not enough. Cash runway: 24 months with the loan, 16 months without it (new capital alone, no revenue).
| Plan figures | Base (nominal case) | Prudent (downside case) | ||
|---|---|---|---|---|
| In 3 years | In 5 years | In 3 years | In 5 years | |
| Revenue | €7.64M | €24.44M | €4.41M | €13.55M |
| ARR (recurring + annualized usage revenue) | €10.89M | €28.97M | €6.23M | €15.94M |
| EBITDA (operating profit) | €2.98M | €14.83M | €692k | €6.79M |
First profitable month: month 23 (nominal case), month 29 (downside case)
What the investment returns depending on the year of sale
| Business scenario | Sale in 3 years | Sale in 5 years | ||
|---|---|---|---|---|
| Multiple of the money invested | Annual return | Multiple of the money invested | Annual return | |
| Base nominal case | 3.3× | 49.5% | 8.9× | 54.8% |
| Prudent downside case | 1.9× | 24.1% | 4.9× | 37.3% |
| Stress resilience test | 1.5× | 13.5% | 3.6× | 28.9% |
Multiple of the money invested: how many euros come back for one euro invested. Annual return: equivalent yearly rate.
How the investor exits. Sale of the company to a software vendor, a carmaker's finance arm or a fund, at 3.5× to 8× of ARR (recurring + annualized usage revenue), within 3 to 5 years.
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