Growthdeck: Fissara


Closed
Fissara   |  Software   |  EIS
164%
Target £500,000 Equity 41.03%
Raised £820,500 Equity 41.03%
Investors 25 Watchers 40

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Please note that Fissara has now closed this fundraising offer.

The Opportunity

A world-class scheduling, workflow and asset management tools and application suite
fissara is a comprehensive platform for management of work, processes and field services. fissara is deployed simply from the cloud and enables the sharing of information across the supply chain and to customers quickly and efficiently. fissara is already used by a number of businesses across multiple industry sectors and new customers are being acquired on a regular basis.


Fissara Limited ('Fissara') - is seeking £500,000 of funding to grow, enhance and fully commercialise its innovative cloud platform designed for organisations with a mobile workforce. Fissara is proven to deliver significant productivity and efficiency gains in the management of assets, processes, customers, schedules, data and people

Note: this offer is for an equity stake in Fissara, the company that owns and operates Fissara.

HMRC has given its Advance Assurance that the investment should qualify for the tax reliefs available under EIS.



  • Fissara enables customers to seamlessly manage their remote workforce with an online web application for office users, as well as an interactive app for workers on the road.
  • The product provides a wide range of functionality to fully schedule and manage daily activity and allows for the collection of data, measurements, signatures and to integrate with audit, processing and billing.
  • Fissara is principally targeted at medium to large companies in sectors including Domiciliary Care, Telecommunications & Utilities. Existing customers include Airwave (emergency service communications) and Scanlans (property management).
  • Fissara is delivered on a SaaS (Software as a Service) model with customers paying on a subscription basis (with minimal upfront payment) generating significant recurring revenue streams in the medium term.
  • The Company has been in existence for 3 years (profitable in each year) and achieved £118k profit on £435k of sales for the financial year ending October 2015 (unaudited) without any external funding to date.
  • Bulk of historical revenue from customer development work and now looking to exploit significant potential of Framvern’s Fissara software product that is fully operational with early customers.
  • Deal structure aims to provide all investors with downside protection with breakeven achieved on circa £500,000 of equity proceeds given current (debt free) capital structure.

Target EBITDA Exit Multiple

x7

Target Exit Money Multiple

x4.9

Target IRR

51%


Exit Scenario
  • Trade sale in 3-5 year time period most likely liquidity event (subject to performance in accordance with the plan)
  • Buyer assumed to pay 7X EBITDA which could prove conservative given attractive recurring revenue streams from SaaS business model
  • Major software vendors and IT providers potential acquirers
  • Option to split Fissara along industry lines (e.g. Care, Utilities) and sell each separately

 



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Offer name:Fissara

Website:www.fissara.com

Address: Millbrook Business Centre
Floats Road
Manchester
M23 9YJ

Company no: 04917261

Incorporated: 01/10/03

Employees:8

Social sites:



Companies House data

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