Role: 1215
To apply for role click HERE
Our Client, OLE Technologies is a London-based pre-seed fintech startup aspiring to become the bank for the online content creators. They have successfully launched their first product, providing payment upfront in exchange for an online video’s future revenue stream. They are initially focused on working with YouTubers who have between 10,000 to 2,000,000 subscribers in the EU and the US. They do this by analyzing historical revenue data for each uploaded video and forecast its future revenue stream before offering to buy the video at an amount less than what is forecasted (thus generating a margin). They collect the revenue stream through a direct debit payment method from YouTube. They have received a very positive response from YouTubers generating an impressive backlog of deals waiting to be processed. They are currently focusing on fundraising for their pre-seed round which will enable them to proceed with these pending deals; develop an AI model with machine-learning capability, with the goal to automate all deal offers - presenting real time pricing for all creators. This will speed up the dealflow process and boost automation to get ready to scale. Lastly, they need to build a team of developers and a commercial department to prepare to scale efficiently in the US.
The company has raised £75,000 from angel investors and is already generating early revenues
Our client is seeking 3 investing NEDs to join their board alongside their founders with the following area of expertise on top of having business strategy / growth experience in fast growing early-stage businesses, ideally with a background in the Online content ecosystem, Tech, Media or Marketing:
- Experienced in Online Content creator’s ecosystem with good knowledge and well connected with social media industry to enable the company to gain access to partnerships with YouTube, Tiktok, Meta etc.
- CFO NED - Experienced with Unsecured loan management and fundraising experience in high growth companies with connections to support future fundraising activities
- AI/ML Tech NED - Experienced with UEX design, process automation and experience as a product manager for a tech company. Expertise that will help the company in its push towards utilizing AI to help creators analyze their data in real time and to prepare the process flow for the scaling phase.
The incoming Non-Executive Directors will be encouraged to become shareholders in the Company with an initial investment of a minimum of £50k to align their interests with that of the existing Board Members who are shareholders.
OLE has been approved for SEIS advance assurance tax scheme.
Market & Opportunities:
- OLE has registered its business in Q3/2023 and has launched its MVP in Jan 2024, and is currently making early revenue from content acquisition
- OLE has raised £75k and is currently raising additional capital to fund its content acquisition, product development, and team expansion. They expect to be raising a seed round by Q3/2024 to push for business scaling to the US.
- OLE started seeing that after its first quarter of business, the target market and major opportunity seems to be much more US and Canada focused than European market, therefore, they have planned to push to scale into the US starting from Q3/2024
- To expand the business, since the core model is very capital intensive, OLE has explored debt financing structures with very positive feedback. This could be a future financing route for OLE to scale its operations, and would minimise dilution for early investors
Closing date for applications: 26th April 2024
