The Financing Ask
Asset-backed debt
plus growth equity
The investment can be structured as debt, equity or hybrid capital, with the first £2m debt tranche funding 1,000 vehicles against a signed purchase order and the £10m growth tranche moving the fleet toward Series B scale.
Option A
£2m debt
Funds 1,000 vehicles against a signed purchase order. 100% asset-backed, three-year irrevocable leases and $350,000 monthly revenue at deployment.
Option B
£10m debt/equity
Funds 4,000 further vehicles of growth capital plus founder liquidity at an implied entry valuation of $15,625,000.
Five-year forecast
Base case shows
$89.6m Year 5 leasing revenue
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Vehicles leased | 2,060 | 6,240 | 10,400 | 14,560 | 18,720 |
| Revenue EUR | €3.68m | €26.21m | €43.68m | €61.15m | €78.62m |
| Revenue USD | $4.20m | $29.88m | $49.80m | $69.71m | $89.63m |
| Gross Profit USD | $2.70m | $19.21m | $32.01m | $44.82m | $57.62m |
| Gross Margin | 64.3% | 64.3% | 64.3% | 64.3% | 64.3% |
Valuation read-through
Milestone-based
path to Series B &
2031 exit option
At 6.2x Y5 revenue, the leasing platform implies $555.7m. Combined with the current holding company assumption, the forecast value is $575.7m. The target exit routes include IPO, strategic acquisition, trade sale or merger.
Financials & terms
Debt for validation,
Equity for scale
Option A
£2m debt
Funds the first 1,000 vehicles. At full deployment this represents approximately $350,000 monthly top-line revenue with lender return display of $72.44 per vehicle/month.
Option B
£10m equity
Growth capital for 4,000 further vehicles at $2,000 capex, targeting $1.4m monthly revenue and $900k monthly gross profit at 64.3% margin.
Use of funds
• Deployment of $1.8m will be used to deploy 1,000 vehicles over 3-4 months.
• Working capital recycled from profits and
• $200k contingency/interest.
Use of funds
• Deployment of $8m will be used to deploy 4,000 vehicles over 6-12 months.
• Expansion into 12 countries and
• New vehicle launch in 2027.
Revenue & gross profit scales
with vehicle deployment
