[Crowdfunding] Rnwl

This got in my inbox today - Rnwl on Seedrs - https://www.seedrs.com/rnwl/

Something I can definitively see myself using.

My own notes (this is NOT investment advice - make your own DD!):

Idea - 5/5 - something I definitively want to use although it took me a little bit to understand what they meant by ‘over-the-top’
Team - 4/5 - very experienced in AI, Insurance and product, led by an entrepreneur that has scaled a business before. Seems to be missing a marketing genius?
Financials - ?/5 - financial forecast provided doesn’t seem to marry with the potential revenue. The pitch talks about high % commissions, but financial forecast seems very low. Conservative? Not ambitious enough?
Technology - 5/5 for potential for being the Monzo of Insurtech, ?/5 for execution as it’s not live yet
Valuation - 3.5/5 - At £3.8m it’s not low, but the team has been working on the idea for almost a year and Monzo’s first valuation was £6m
Market size - 5/5 - Insurance is a very large market. I’m not sure how big, but like my healthcare investments: the market is always very large.
Potential for growth - 5/5 - if gets traction, it’s a no-brainer
Competition - 3/5 - mainly price comparison websites, but pitch deck addresses any concerns.
Exit potential - 5/5 - Pitch deck also addresses this - I agree it has a huge potential, but execution will be key.

All in all, very interesting proposition with a good team still at an early stage. Like many others, it will come down to execution, so I need to do some more digging on the team and their backgrounds.

I hope this helps. Please share your notes too so that we can share knowledge.

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Apologies, small update:
Technology reduced to 4/5 as AI element hasn’t been rolled out yet. The potential is still there though IMO.

The CEO founded syndicate rooms, a Cambridge VC fund, it started off as a crowdfunding platform but seems to have moved to the standard VC model. I can’t say the business model is exciting, it’s just a platform screening for the best deals, so it’s probably not actually AI they are using.

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Which business model do you mean? syndicate room or rnwl?

rnwl seems to have a pretty robust revenue model at 15% to 25% commission from what i could see.

Other founders were involved with swift key and raspberry pi and comparethemarket.com.

Having looked at it, I’m concerned they are underestimating their acquisition costs.

Also, the big comparison sites already have my core details. Moneysupermarket (for example) have quoted me for car, home and pet insurance so it does not feel like a leap for them to automate to proactively look for better deals. Gut feel is that provider contracts are a bigger issue than any technology. Agree with the above, feels like an overuse of the term AI.

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