Rightcharge

Overview

Company: Rightcharge

Service: Investor-readiness

Industry: Sustainability; Electric Vehicles

Stage: Seed

Charlie, the Founder of Rightcharge, originally contacted us for strategic advice related to a funding round. He was a first-time founder who had no prior fundraising experience although had learned how to do financial modelling. Charlie asked if we could provide our insight and guidance so that when he spoke to investors he was prepared and had guidance during investor negotiations.

Approach

We discussed Rightcharge’s business model and plan in detail with Charlie. After reviewing the investment deck and financial model, we helped Charlie decide on valuation, dilution and the overall amount to raise

Outcomes

Identified gaps between what we discussed about the business model and what was in the financial model
Suggested ways the business model could evolve to generate further revenue opportunities
Fixed spreadsheet errors in the financial model, e.g., the cashflow forecast that didn’t work
Identified areas around market size, traction and further growth opportunities which had not been fully detailed in the investment deck and in turn not covered in the financial model
Flagged various data sources had not been referenced
Pointed out government policies and forms of support that will help grow the market over the next decade
Changed the running order of the investment deck slides, added new ones, combined others, and made some more concise to improve positioning for investors

Doubled our valuation.”

Charlie Cook

Rightcharge - Founder

Rightcharge successfully closed the Seed round, raising £100k, double the amount Charlie had originally planned to.

We also helped increase the valuation by 45%, resulting in less dilution for the founder.

Overview

Company: Rightcharge

Service: Investor-Readiness

Industry: Sustainability; Electric Vehicles

Stage: SEED

Founder of Rightcharge, Charlie originally contacted us for strategic advice related to a funding round. He was a first time founder who had no prior fundraising experience although had learned how to do financial modelling. Charlie asked if we could provide our insight and guidance so that when he spoke to investors he was prepared and had guidance during investor negotiations.

Approach

We discussed Rightcharge’s business model and plan in detail with Charlie. Followed by reviewing the investment desk and financial model. We also helped Charlie form a view on valuation, dilution, and the overall amount to raise

Outcomes

We identified gaps between what we discussed about the business model and what was in the financial model.
Suggested ways business model could evolve to generate further revenue opportunities.
Fixed spreadsheet errors in the financial model e.g. the cashflow forecast didn’t work
We identified areas around market size, traction and further growth opportunities which had not been fully detailed in the investment deck and in turn not covered in the financial model.
We noticed various data sources had not been referenced.
We pointed out various government policies and forms of support which will help grow the market over the next decade.
On the investment deck we changed the running order of the slides, added new ones, combined others, and made some more concise.

Rightcharge successfully closed the SEED round, raising £100k, double the amount Charlie had originally planned to.

We also helped increase the valuation by 45% resulting in less dilution for the Founder.