Mecanicus, a company focused on driving a “revolution” in the classic car market to ensure its “transmission to future generations,” has secured 113% (€568,692) of its €500,000 fundraising target via Crowdcube (from 121 investors at the time of writing).
Mecanicus notes that it aims to provide a technology-driven marketplace. They claim to own most of the stock to ensure quality and “leverage double-digit million social media outreach to sell the cars.”
With €1.75m revenue in Y1, they aim to grow their business operations in France and launch in the United Kingdom.
The firm is offering Equity (11.26%) and the business has a €4,483,498 pre-money valuation along with a €3.70 share price.
The company has shared some highlights:
- Fragmented market worth $18bn globally; +400% growth over the last 15 years
- €1.75m revenue in year 1 (€140k gross margin, €-236k EBITDA)
- Double-digit million social media outreach & clients incl. Fiat, Peugeot, Retromobile, Citroen
- AI-driven pricing tool to scout opportunities & create B2B offering
As clarified in the update, €222,602 of funds on the progress bar “represent funds raised and received by the Company prior to launching the campaign.” Completion will “occur alongside the Crowdcube raise on the same material terms and share price,” the update noted.
The firm’s management notes that they founded Mecanicus “out of a passion for classic cars.” They believe that the classic car market “is archaic, highly fragmented and intermediary-driven, putting the transmission of this passion to future generations at risk.”
They provide a tech-driven classic car marketplace based on:
- We mainly own the cars to ensure our own quality & reliability standards, providing a different client experience as the relationship is based on car ownership and not acting as a broker.
- We leverage our double-digit million outreach built through our social media in-house content to sell fast (less than 3 weeks).
- We provide an AI-driven pricing and scouting tool to challenge the current market opacity and create a modern deal-flow source.
The firm also shared:
“Since launching operational activities in 2020 we have sold 43 cars in less than a year, achieving €1.75m in revenues, and have worked with key clients incl. Fiat, Peugeot, Retromobile, Citroen.”
They added:
“We estimate a 50bn$ global market (France at $1.5bn, UK at $4bn), growing each year by 2-digit % in value. Using our tech-led model, we aim to take advantage of that growth and increase the size of the market via existing buyers/sellers, but also bring new people into the collecting world with easier and more transparent practices. We raise funds to recruit mechanics, create a place to stock and refurbish, hire tech engineers, & launch into the UK market.”
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