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Compliance Team
Angels Den

Dear User,

You may have heard about the new General Data Protection Regulation (“GDPR”), that comes into effect May 25, 2018.

We would like to ensure you that your personal data is safe with us. Please read the details regarding the processing of your personal data and if you agree with the processing as described below, please click the ‘I agree’ button.

Please be informed that you can withdraw this consent at any time.

1) What data are we talking about?

We are disclosing details regarding the processing of personal data that is collected within our calls and in connection with your use of Angels Den’s platform, Websites and other functionalities of Angels Den, including those saved in cookies files.

2) Who will be the controller of your data?

Angels Den Funding Limited (hereinafter referred to as AD) will be the controller of your data (Angels Den means all entities from the Angels Den capital group, which includes Angels Den Funding Limited with its registered office in London and all entities related to it and dependent on it) and only our Trusted Partners.

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We process this data for the purposes described in our Privacy Policy, including:
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Where you have explicitly consented to be contacted for such purposes, we use your personal data to provide information on our new and existing products and services.

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In accordance with applicable law, we may transfer your data to entities processing it at our request, e.g. marketing agencies, subcontractors of our services and entities authorized to obtain data under applicable law, e.g. courts or law enforcement agencies - of course only if they submit a request based on an applicable legal basis. Furthermore, we will transfer your data to Trusted Partners outside the European Union – to the USA – under the EU-U.S. Privacy Shield Framework.

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You have the right to request access to, correct, delete your personal data. You can also withdraw consent to processing of personal data, raise objections and use other rights granted under GDPR (i.e. right to data portability).

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We use cookies to give you the best experience on our Website. This means that we have placed cookies on your device. If you continue without changing your cookie settings, we assume that you consent to our use of cookies on this device. You can change your cookie settings at any time but if you do, you may lose some functionality on our Website. More information can be found in our Privacy Policy.

In connection with the above, I agree to the processing of my personal data by Angels Den and its Trusted Partners. I confirm that I understand that my personal data is being collected as part of my phone calls, use of AD’s online platform, Websites, and other functionalities of AD, including the data saved in cookie files. I also consent to profiling in order to allow Angels Den and its Trusted Partners the provision of better services (including for analytical purposes). Your data will only be processed on a valid lawful basis in accordance with applicable data protection laws. The processing of your personal data for marketing purposes (including statistical analysis) by AD is based on the firm's legitimate interest. The processing for marketing purposes by our Trusted Partners is only possible if we receive your freely given consent. We will also process your personal data to fulfil our contractual obligations to you as contained in AD’s Terms and Conditions of the use of our Website and services. Therefore, this data will be processed on another lawful basis – ‘contract’. We will also process your data to comply with our legal obligations for our Service (such as anti money laundering and know your customer requirements), which is also a valid lawful basis in accordance with applicable data protection laws.

Expressing this consent is voluntary and you can withdraw at any time.

If you have any doubts or questions about the use of your personal data, please do not hesitate to contact me via email. I’m happy to assist.

Compliance Team
Angels Den
cl@angelsden.com

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GLOVEBOX DIRECT - Investment Opportunity

Founded by the former eBay automotive sales lead, Glovebox Direct is a car parts & accessories marketplace targeting consumers and the small independent garages. While this segment is huge, spending £500m annually with eBay UK, it actually under-indexes online due to 3 significant pain-points. Glovebox solves these because its point of difference is that its sellers are manufacturers (eg Toyota, Suzuki, Vauxhall etc) and their franchised dealers (Vertu Motors, Cambria, Parks etc). This enables Glovebox's unique proposition as a specialist marketplace optimised for the segment. We are establishing in the UK before expanding into the global opportunity (sized by McKinsey at $760bn pa).

THE IDEA
Products & Services

Glovebox Direct enables consumers and the independent garages to buy car and motorbike parts and accessories with ease and confidence. It combines the technical data and IP from the vehicle manufacturers with proprietary tech and marketplaces expertise. We carry no stock nor manage logistics. Our sellers are the manufacturers and the largest UK dealer groups. Our beta site was launched with Suzuki in Q2 18. We then added Peugeot in Nov 18 and then 5 more brands (Toyota, Nissan, Lexus, Renault, Citroen) in Jan-19, now covering 20% of the market. We have contracts & prototypes in place to add a further 36% of the brands within Q1 & early Q2.

Problem Solved

For consumers, there are 3 pain-points: lack of available range online, problems identifying the right fitting parts, and concerns about authenticity and quality. By partnering with the manufacturers, and combining their technical data and stock information with our data and UX expertise, we have addressed these issues in a unique way and already have an unrivalled proposition for OEM parts. For the small independent garages, eBay is their primary online solution and their offline solution (calling multiple main dealers for many different brands) is hugely inefficient and the dealers are noted for poor service, bad pricing, lack of transparency and unwillingness to deliver to small customers

Revenue Model

Glovebox Direct charges 15% commission on sales and pays on 28 day terms, after month-end, so at scale the cashflow is extremely attractive.
The initial cost of sale is high as suppliers (eg Paypal) charge based on transactional volume. So margins improve significantly at scale (and predictably, as the fees are based on a published rate cards and contracts).

Exit Strategy
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Minimum Target £ 300,000 Maximum Target £ 400,000 Minimum investment amount £ 10,000 Maximum investment amount £ 400,000
Share On Website Visit site Location LONDON
Gallery

The Idea

Products & Services

Glovebox Direct enables consumers and the independent garages to buy car and motorbike parts and accessories with ease and confidence. It combines the technical data and IP from the vehicle manufacturers with proprietary tech and marketplaces expertise. We carry no stock nor manage logistics. Our sellers are the manufacturers and the largest UK dealer groups. Our beta site was launched with Suzuki in Q2 18. We then added Peugeot in Nov 18 and then 5 more brands (Toyota, Nissan, Lexus, Renault, Citroen) in Jan-19, now covering 20% of the market. We have contracts & prototypes in place to add a further 36% of the brands within Q1 & early Q2.

Problem Solved

For consumers, there are 3 pain-points: lack of available range online, problems identifying the right fitting parts, and concerns about authenticity and quality. By partnering with the manufacturers, and combining their technical data and stock information with our data and UX expertise, we have addressed these issues in a unique way and already have an unrivalled proposition for OEM parts. For the small independent garages, eBay is their primary online solution and their offline solution (calling multiple main dealers for many different brands) is hugely inefficient and the dealers are noted for poor service, bad pricing, lack of transparency and unwillingness to deliver to small customers

Revenue Model

Glovebox Direct charges 15% commission on sales and pays on 28 day terms, after month-end, so at scale the cashflow is extremely attractive.
The initial cost of sale is high as suppliers (eg Paypal) charge based on transactional volume. So margins improve significantly at scale (and predictably, as the fees are based on a published rate cards and contracts).

Exit Strategy
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