31%
AUTOTRIP

AutoTrip is deeply involved in the now rapidly developing ‘Connected Cars’ market. Founded in 2014 by Andrew Wordsworth, founder of E-Car Club which was sold within 4-years of launching, to Europcar in July 2015 and Alexander Nicholson, formerly Lead Venture Manager for the Sustainable Ventures portfolio, one of the UK’s leading Cleantech Accelerators. AutoTrip has had two successful rounds of crowdfunding, and further supported by awards from UK Government’s Innovate UK and the European Commission’s Horizon 2020. Autotrip was nominated by Cleantech Innovate as one the UK’s top 40 Cleantech businesses.

THE IDEA
Products & Services

AutoTrip provides a best-in-class, cloud-based software solution that allows people and businesses to improve their workflow and optimise vehicle fleets. The AutoTrip ‘Connected Cars’ platform collects GPS data from any vehicle. This data is used to automate business mileage claims using machine learning (A.I.) to both ensure accuracy and privacy needs are met on private journeys. Our user-centric platform reduces costs through higher workforce productivity and elimination of exaggerated claims, reduces HMRC compliance risk and reduces fleet carbon emissions.

Problem Solved

The HMRC requires the accurate reporting of business mileage, yet many businesses are non-compliant - 95%+ of drivers manually record their mileage in the UK. This leads to exaggerated claims/missed trips (and non-compliance HMRC compliance). Mileage administration, which is highly time consuming, is an unproductive use of time. Mileage data is difficult to integrate with online expensing and accounting platforms

Revenue Model

Revenue & Pricing: Upfront hardware cost and monthly subscription. - Tiered pricing for different product offerings - Multiple data revenue opportunities - Receipt & file storage add-ons Sales & Distribution: - Direct B2B & B2C channels - Distribution & Third Party Networks (i.e. accounting practices and automotive distributors) - Key partnerships include fuel card providers (i.e. Allstar) and expensing software (i.e.Expensify) Financial & Customer Lifetime Value:- Recurring SaaS revenue based on rolling contracts: 80%+ gross margin, and 40%+ operating margin may be attainable- API led integrations enhance customer lifetime value - Easy to upscale and cross-sell to corporate clients

Exit Strategy

1. Q1 2017 - Bridge Round
2. Q4 2017 - Series A funding of £1m+
4. 2019/2020 Exit

Minimum Target £ 150,000 Maximum Target £ 360,860 Minimum Investment £ 5,000 Maximum Investment £ 360,860
Share On Website Visit site Location LONDON
Rewards

Rewards with a monetary value of over £1,000 can affect the amount of SEIS and EIS an investor can claim. If you are offering SEIS or EIS, then please keep the value of the rewards you’re offering below £1,000.

Gallery

The Idea

Products & Services

AutoTrip provides a best-in-class, cloud-based software solution that allows people and businesses to improve their workflow and optimise vehicle fleets. The AutoTrip ‘Connected Cars’ platform collects GPS data from any vehicle. This data is used to automate business mileage claims using machine learning (A.I.) to both ensure accuracy and privacy needs are met on private journeys. Our user-centric platform reduces costs through higher workforce productivity and elimination of exaggerated claims, reduces HMRC compliance risk and reduces fleet carbon emissions.

Problem Solved

The HMRC requires the accurate reporting of business mileage, yet many businesses are non-compliant - 95%+ of drivers manually record their mileage in the UK. This leads to exaggerated claims/missed trips (and non-compliance HMRC compliance). Mileage administration, which is highly time consuming, is an unproductive use of time. Mileage data is difficult to integrate with online expensing and accounting platforms

Revenue Model

Revenue & Pricing: Upfront hardware cost and monthly subscription. - Tiered pricing for different product offerings - Multiple data revenue opportunities - Receipt & file storage add-ons Sales & Distribution: - Direct B2B & B2C channels - Distribution & Third Party Networks (i.e. accounting practices and automotive distributors) - Key partnerships include fuel card providers (i.e. Allstar) and expensing software (i.e.Expensify) Financial & Customer Lifetime Value:- Recurring SaaS revenue based on rolling contracts: 80%+ gross margin, and 40%+ operating margin may be attainable- API led integrations enhance customer lifetime value - Easy to upscale and cross-sell to corporate clients

Exit Strategy

1. Q1 2017 - Bridge Round
2. Q4 2017 - Series A funding of £1m+
4. 2019/2020 Exit

You have to log in or register to see this information.
You have to log in or register to see this information.
You have to log in or register to see this information.
You have to log in or register to see this information.
You have to log in or register to see this information.