Seedrs · UK

OfficeRnD’s Seedrs investors: 7.8x, or 24.6x once tax relief counts

Seedrs reported a 7.8x return for OfficeRnD investors in a 2020 partial share sale, or 24.6x with tax relief. Raise Sonar has not confirmed the round's year or price.

Past returns are not a guide to future returns. General information, not advice.

Some figures here have not been confirmed against a primary source. Each is marked “Not yet verified”, and this page stays out of search until they are.

The figures

Multiple 7.8x, or 24.6x with tax relief Realised in part

Platform
Seedrs
Country
UK
Crowd round
Not yet verified
Entry price or valuation
Not yet verified
Exit or latest event
Partial share sale to one of its venture investors

OfficeRnD: exit or latest event: Partial share sale to one of its venture investors.

The round

Not yet verified OfficeRnD makes software for running coworking and flexible office space. Its link to Seedrs, now Republic Europe, is clear but its terms are not: we have not found a pitch page, so the year of the round, the amount, the number of investors and the price paid are left out of this page rather than estimated.

The money may not have gone in directly. Pi Labs, a property technology accelerator, says OfficeRnD's founders were among its earliest joiners (opens in a new tab) when it began in 2015, and Republic Europe lists a Pi Labs fund (opens in a new tab) that took small stakes in such companies. A later Crowdfund Insider report (opens in a new tab) describes a much larger 60x claim for investors in that fund, with no detail on what it meant. We treat that as a separate claim and do not use it here.

What happened

Crowdfund Insider (opens in a new tab) reported in June 2020, from a Seedrs update, that the company "generated investors a 7.8X return or 24.6X with tax reliefs, via a partial share sale to one of their VC investors". Pi Labs (opens in a new tab) describes selling part of its stake to deliver a return to some of its earliest investors, without giving a multiple.

The company went on raising money. It had taken a $1m seed round (opens in a new tab) in 2017, and it has kept trading since, so holders who did not sell in 2020 remain invested.

What the figure does and does not say

Two very different numbers (opens in a new tab) are in circulation, and the larger one is not a market return. 7.8x is what the sale paid on the money put in. 24.6x adds the value of the UK's SEIS and EIS tax reliefs, which depend on the investor's tax position, on claiming them, and on rules that can change. A person with no UK tax bill would have seen 7.8x at most, and we chart that figure.

It was also a partial sale: the report (opens in a new tab) does not say how much of a holding could be sold, or who could sell it. Both multiples come from the platform, with no filing to check them against. This page stays out of search until the round's terms are read from a primary source.

Timeline

  1. Year unknown

    Not yet verified Crowd round on Seedrs, terms not found. Crowdfund Insider (opens in a new tab)

  2. 2015

    Founders join the first Pi Labs accelerator. Pi Labs (opens in a new tab)

  3. November 2017

    $1m seed round. Tech.eu (opens in a new tab)

  4. June 2020

    Seedrs reports a partial share sale at 7.8x, or 24.6x with tax relief. Crowdfund Insider (opens in a new tab)

Sources

  1. Crowdfund Insider, June 2020: 5th exit this year, as platform matures Seedrs reports growing number of exits (opens in a new tab)
  2. Pi Labs, Medium: Exits pave the way for the next chapter in PropTech (opens in a new tab)
  3. Republic Europe: Pi Labs Accelerator Fund (opens in a new tab)
  4. Crowdfund Insider, November 2023: Seedrs reports a 60x return for early investors in a crowdfunded firm (opens in a new tab)
  5. Tech.eu, 16 November 2017: OfficeR&D raises $1 million seed round (opens in a new tab)

By Raise Sonar. Published . Sources read .

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