# The raise

_Simma investor data room · Plan · as of 2026-09-25_

## Terms
*Plan.*
- **£750k pre-seed** — SeedLegals SeedFAST (UK advance subscription agreement).
- **£4m valuation cap, pre-money** — about 15.8% for investors at the cap.
- **6-month long-stop.** £250k SEIS (lifetime cap) then £500k EIS.
- SEIS/EIS: advance assurance applied for before first close, and before anything is signed.

## Use of funds (18 months)
*Plan.* People 64.5% · marketing 18.5% · product and infrastructure 7.1% · legal, admin and other 9.9%.
£720k spent and £137k of revenue over 18 months, leaving about **£167k** at month 18.
Hires: the founder full-time from month 1; a sales and customer-success hire from month 2; an engineer from month 4; a second
sales and customer-success hire from month 6; a marketing agency from month 3. The seed raise starts at month 12, with about
**£328k** still in the bank; a raise takes a few months.

## Milestones
*Plan (draft).*
- **Before first close** — IP assigned to Simma Labs Limited; SEIS/EIS advance assurance applied for
- **Months 0-3** — Founder full-time from first close; First sales & customer-success hire (month 2); First studios onboarded by hand
- **Months 3-6** — Engineer joins (month 4); First paying studios; payments live through Simma Pay; Second sales & customer-success hire (month 6)
- **Months 6-12** — 50 paying customers; Sage live behind the approval gate; Start raising the seed round (month 12)
- **Months 12-18** — Close the seed round; Evidence of what studios pay for and keep using; First franchise conversation

Paying customers: 10 by month 6, 50 by month 12, 140 by month 18.