Forus Seeking €6M Investments (€1M Already Committed)

Copyright: Forus International OÜ, 2023

At a Glance

Forus International OÜ is a community-driven service platform, which has developed an all-embracing assistant app to help its users find and compare multiple services in the transportation and courier sectors.

Traction and Ask

With €4,4M net revenues in 2022, €480k avg net monthly revenues and 200k customers in Q1 2023 (+11% MoM), Forus is now looking to raise €6M Series A funding. The ideal investor would have expertise in the transportation or mobility sector, software development, and be European based. The investment is needed to:

  1. Enter the Tunisian and Slovakian markets, grow in existing markets, and launch additional services to enhance our platform.
  2. Reach 800k more customers and €8M net revenues by Q4 2024.
  3. Strengthen the team with 8 new hires in product engineering, 2 new hires in sales and marketing, and 2 new business unit heads.

Market, Business Model, Financials and Team

Founded in 2022 in Tallinn, Estonia, Forus is poised to capture a significant share of the global mobility market worth €61,3B (+27,8% CAGR/Year). 

Forus charges retail and business customers a 15% commission on each transaction. We operate in 4 core business verticals: Taxi, C2C car rent, courier service, micro-mobility. Revenue growth is projected at 47% YoY (breakeven in Q1 2025), reaching €15M by Q1 2026. 

Forus team of 21 (1 full-time, 1 part-time co-founder, and 19 full-time employees), with 3 previous exits, combines several decades of commercial, transportation, and software development expertise. 

Competitive Advantage

Our key USP is that we are pioneering the world’s first community driven service platform, empowering users to become its owners simply by consuming and providing services to one another. This makes our business unique and better than the competitors by having approximately 150% lower customer acquisition costs, a bigger variety of services and features, and much better incentives and compensation for drivers. 

Round Details

At a €14M pre-money valuation, Forus aims to close this Series A round by 31st of October 2023. Some minority investors have already committed to join with €1M. The minimum investment ticket size is €250k.

Forus has previously invested €7,6M of its own capital and raised €5,9M in loans from US Invest to develop its MVP, which means that, after this investment round is secured, Forus is fully ready for international commercial uptake. Forus is seeking to partly exit in 7 years at a target valuation of €100M (6,5x return of investment) via IPO.

Get in Touch

Eduard Dubrovski (Founder/COO) and Henri Roihu (CIO) are speaking with potential investors over the next few weeks and are keen to pitch, demo and open up their traction and financial plans in detail. Please let me know if this is of interest and I will arrange an introductory call. 

We are also raising capital for our other portfolio companies. If you are interested in any of them, let us know and we’ll send you the relevant decks and put you in touch with the founders.