TUGG

07 · TUGG Pre-Seed

Financials, Cap Table & Diligence

Use of funds, ownership, investment structure, pre-MVP safeguards and the practical risk register.

£400k use of funds

Category
Product, engineering & technical leadership
Amount
£220,000
%
55%
Category
Launch, marketing & acquisition
Amount
£80,000
%
20%
Category
Trust, safety, legal & compliance
Amount
£40,000
%
10%
Category
AI, cloud & infrastructure
Amount
£25,000
%
6.25%
Category
Operations & contingency
Amount
£35,000
%
8.75%
Category
Total
Amount
£400,000
%
100%

Runway

Target: approximately 15 months. The actual monthly burn will not be flat. Product and engineering expenditure will begin earlier, with acquisition spend weighted toward beta and launch.

Cap table

Ownership
Founder / existing shareholders
Current
100%
Illustrative post-round
86.21%
Ownership
New round investors
Current
—
Illustrative post-round
13.79%
Ownership
Total
Current
100%
Illustrative post-round
100%

Illustrative only — subject to final investment structure, option pool and legal review. Future employee and technical-team equity will be determined with investors and legal advisers.

SEIS / EIS

TUGG intends to investigate SEIS/EIS eligibility and, where appropriate, seek professional legal and tax advice and HMRC Advance Assurance before completion of qualifying investment. Final investment structure remains subject to legal and tax review.

Trust, safety & privacy — Pre-MVP roadmap

  • 18+ users
  • Age verification
  • Consent
  • Blocking and reporting
  • Moderation
  • Community standards
  • Privacy by design
  • Data minimisation
  • GDPR review
  • Sensitive data protection
  • Safety escalation

Detailed legal, privacy and compliance documentation will be completed before launch and shared during diligence as relevant. Additional corporate documents are available as applicable during diligence.

Risk & mitigation register

Risk
Technical execution
Current position
No CTO currently
Mitigation
Prioritise technical leadership and allocate the majority of the round to product and engineering
Risk
Pre-MVP risk
Current position
Production product not launched
Mitigation
Stage the build through focused MVP, testing and closed beta
Risk
Marketplace liquidity
Current position
Dating requires local density
Mitigation
Concentrate launch before expanding geography
Risk
Retention
Current position
Not yet measurable
Mitigation
Test during beta and early launch before scaling spend
Risk
Monetisation
Current position
Pricing not validated
Mitigation
Test premium conversion after core engagement is established
Risk
Safety
Current position
Sensitive dating environment
Mitigation
Build consent controls, moderation, reporting and escalation into the MVP
Risk
Privacy
Current position
Potentially sensitive user data
Mitigation
Apply privacy by design, data minimisation and professional review
Risk
Competition
Current position
Major funded incumbents
Mitigation
Focus on compatibility-led product architecture and differentiated positioning
Risk
Founder concentration
Current position
Solo founder
Mitigation
Recruit technical leadership and build the founding team
Risk
Funding
Current position
MVP depends on pre-seed capital
Mitigation
Tie the £400k raise to clear 15-month operating milestones

Available materials

Published files and priority materials currently in preparation.

15-Month Financial Model

Ready

Monthly cash-flow and burn model covering founder compensation, technical hiring, engineering, product development, legal, trust & safety, cloud/AI infrastructure, acquisition, operating costs and closing cash.

Owner: Lee MullenUpdated 17 Sep 2026