About Us
Peer-To-Peer Property Platform – Free To List – No Need To Pay Agents. Like AirBnB But For Property Sales & Lettings
OPPORTUNITY: Whilst Uber allows us to deal direct with cab drivers, Airbnb will enable us to deal direct with room owners & eBay will allow us to deal directly with individual sellers. We still cling to the outdated, expensive and unpopular ‘middleman’ model regarding the property. We pay Agents thousands just to add our listing to property aggregators like Rightmove or Zillow.
SOLUTION: With Igniv, we combine the current popularity of these property aggregators with the unprecedented growth rates of the platform business model. Property profiles are listed entirely FREE of charge. Users deal with each other directly. A powerful incentive for users to adopt Igniv and rapidly build for us our network, which, like Facebook, we then own and monetise
Investment Highlights
£250,000 (with the option to overfund to £400,000)
MVP Generated over £400k revenues in first four months trading
Experienced team assembled;
SEIS & EIS Approved;
48% Profit Margin
86% of the market say they will adopt Igniv;
VC Backed;
Already raised £350k but £150,000 of SEIS eligible shares still available
Vision and Value Proposition
Our vision is to replace the outdated, unpopular, slow and expensive Real Estate Agent business model with a modern platform solution, free to use, enabling us to build and monetise the world’s most extensive property database.
Our vision is to replace the outdated, unpopular, slow and expensive Real Estate Agent business model with a modern platform solution, free to use, enabling us to build and monetise the world’s most extensive property database.
The Problem
It’s 2022, and we’re still paying Estate Agents thousands of pounds just to list our properties on Rightmove or Zillow, allowing them to control our access to potential buyers and tenants.
Target Market and Opportunity
Total Addressable Market:
UK 1.6m annual residential sales transactions and 4.8m annual lettings transactions
Serviceable Available Market:
Whilst the opportunity to save agent fees is appealing across all income groups. There are high value and/or complex property transactions where the benefit of using an Agent outweighs their fees, so we do not expect to attract all transactions. However, a recent survey of UK property owners indicates a potential 86% adoption rate, i.e. trying out Igniv before engaging a traditional Agency or 5.5m profiles.
Serviceable Obtainable Market:
To be conservative, we have based our revenue forecasts and business plan on three years to achieve a 5% user adoption rate or 320,000 profiles.
The Solution
Replace the traditional Real Estate Agent Linear business model with a free-to-use, true platform business model like AirBnB that benefits from the network effect and scales rapidly.
Business Model
We attract users to the platform (86% of the property owners we surveyed in the UK stated they would list on Igniv) with the incentive to sell or rent out their property themselves without an agent thereby saving thousands in agency fees.
Once a part of the network we monetise via affiliate sales of products and services, such as mortgage and insurance products
Traction and Validation
Marketing and Sales Strategy
Unlike our competitors, Igniv is a platform business which means it can grow with the benefit of the network effect – the valuation of our business grows as the size of the network increases. At the heart of our marketing and sales strategy is the digital virality that comes with each user posting their properties via our site to their own social media networks and encouraging sharing. Igniv piggy-backs on this virality rapidly reaches millions of users through free social sharing.
We will also benefit from the cross-promotional benefits of appearing on the existing dominant property networks, such as Rightmove, one of the country’s most widely viewed websites.
Team
David Cox
CEO
> David was most recently CEO of UK retailer Five Pound World but prior to that was Executive Vice President of payments technology firm Visa Inc, based in Singapore.
> He spent over a decade at The Coca-Cola Company in roles of increasing seniority in the middle east and Asia before culminating as Director of Planning for the over fifty countries in that region.
> He also spent two years as a Director of Tesco in the UK, again with an international remit for their overseas markets from the USA to Japan.
> The idea behind Igniv came when David nearly lost a house he wanted to buy because he discovered the Agent was selling it to two buyers at the same time. He concluded then that the world no longer needed Estate Agents.
Jyothivas Nair
CTO
> With a First Class Bachelors Degree in Computer Science and a First Class Masters Degree in Computer Applications Jyothivas started his career as a technical programmer using java technology stack and then moved into building and managing teams keeping enterprise architecture principles in mind.
> He has helped multiple startups and product companies build web, mobile, and cloud products as a co-investor and acts as Igniv’s technical co-founder.
> Jyothivas also has a background in assisting startups enter the Indian market working with companies to leverage his experience of the Indian marketplace.
Mandar Gadkari
Advisor
> Mandar is an ex Citibanker with over 10 years of experience in Venture Capital, Angel Investments, Corporate Innovation, Strategic Business Consulting & Investment Banking.
> He works closely with global startups on their overall Strategic Growth & Partnerships including Market Expansion, Investor Access & Building an Exitable ventures.
> Mandar is an active investor and mentor to startups and has been a part of various judging panels and speakers in many Startup Conferences.
Nathan Wilkinson
Revenue
> Nathan is a University of Oxford graduate in Information Technology Project Management, specialising in mobile app development and blockchain technology.
> Having spent two years on the Cognizant internship programme in New Jersey, he moved to Uber, joining their revenue management team for a further two years.
> Wanting to swap established businesses for the potential excitement of a ground-floor start-up, he joins Igniv as Revenue Manager
