Before the capital increase at which Spreds Finance participated at the end of the offer, the founders (Isabelle Mashola and Philippe Coup-Jambet) own or 76% of the French company ISAHIT SAS.
Planned capital increase
The capital increase to which Spreds Finance is part of a financing increase of €1.600.000. This funding will be allocated as follows:
- Spreds Finance should invest between €50.000 and €100.000
- Between €1.550.000 and €1.500.000 will be invested by other investors, including Inventures II.
The value of the company before this capital increase is currently €2.500.000. As a result of this capital increase, the value of the company should be EUR 4 100 000, which is the pre-money value of €2.500.000. Following its investment, Spreds Finance is expected to own between 1,2% and 2.4% of Isahit SAS.
Inventures II is a start-up venture capital fund that invests in companies that are supportive of the transition to a more sustainable world. The fund will act as a co-investor.
If the income of Isahit at 31/12/2019 reaches 2,029,000 EUR, then the founders, Isabelle Mashola and Philippe Coup-Jambet, can be diluted by 3.6% each. This could generate a dilution of Spreds Finance of maximum 10%. This type of clause is common and aims to incentivise the entrepreneurs to meet their goals.