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Financials. Model v3.0, September 2026

Three revenue lines. One honest plan.

HomeBid charges for what it does: qualifying and verifying a buyer, then handing a transaction-ready deal to whoever completes it. The forecast is built from the bottom up, from developers, live sites, units and reservations, and every figure on this page is a live cell in the financial model.

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£2M
Seed round
£8M
Pre-money valuation
24+
Months runway, Base case

Revenue model

What we charge,
and where we stop

Housebuilders pay for verified, transaction-ready reservations. HomeBid stops at bid acceptance. The panel firm or settlement rail completes.

Line one

£750
per active site, per month

A platform subscription for each live sales outlet: COINS-connected origination, listing and bid management, buyer qualification and the sales pack for every plot. Priced below a portal development listing.

Production. Charged from conversion

Line two

£245
per accepted reservation

Qualification and verification of every bidder on the plot: identity aligned with PG81, source of funds and source of wealth, PEP and sanctions screening, the 100-point AML risk score and the PDTF-conformant digital twin. Charged only when the developer accepts.

Production. Charged from conversion

Line three

£75
per handoff package

The verified-twin package delivered to the receiving conveyancer or rail at acceptance. Modelled at zero in 2027 and partial uptake after that, because nothing downstream is charged until a panel firm has ingested a package in the pilot.

Gated. Downstream ingestion unvalidated

Not in any scenario: conveyancing fees, reservation or completion percentages, search or insurance margins, mortgage referral income, API licensing or consumer fees. Phase 2 completion mechanics are parked and carry no revenue.

Pilot customer

The forecast starts
with real plots

A PE-backed London and Home Counties timber-frame housebuilder goes live in late October 2026. Its stated minimum volumes anchor Developer 1 in every scenario. Nothing else is contracted.

2sites 65units
On the platform in 2026: two live sales outlets and 65 plots, from a late-October go-live. The six-month pilot is free.
4sites 250units
Stated minimum for 2027 with no new clients assumed. Converts to a paying account in May 2027 at a 50% subscription discount for twelve months; the per-deal fee is charged in full.
68reservations
Expected during the free pilot, November 2026 to April 2027, at 70% of the year's units reaching an accepted reservation.
£79k
Annual value of this one customer at list price on 2027 volumes: four sites at £750 a month plus 175 reservations at £245.

Forecast, Base case

Calendar years,
not "Year 1"

Management forecast. Seed close March 2027. The pilot converts in May. Developers 2 and 3 sign in the second half of 2027. Fifteen developers and 61 live sites by the end of 2029.

£66k
CY2027
£354k
CY2028
£814k
CY2029
Base caseCY2027CY2028CY2029
Developers signed, end of year3915
Active sites, end of year93161
Chargeable reservations1626431,379
Platform subscriptions£26k£177k£414k
Per-deal qualification and verification fees£40k£158k£338k
Verified-twin handoff fees (gated)0£19k£62k
Revenue£66k£354k£814k
Gross margin58%83%88%
Operating costs, including 5% contingency£616k£919k£956k
EBITDA(£578k)(£626k)(£243k)
Closing cash£1.36M£735k£492k
Headcount, FTE677
Exit run-rate ARR, December£141k£540k£1.07M

Q4 2026 is a three-month, pre-seed pilot stub with no revenue. Gross margin carries UK and EU hosting in cost of sales. Closing cash assumes a £2M raise net of 4% costs.

Scenarios

Floor, Base, Upside

All three run through the same monthly engine. Base is the plan. Floor is the pilot customer alone. Upside adds faster signings and one Tier-1 housebuilder.

Floor

Pilot customer only

£70k
Revenue 2029
1 / 4
Developers / sites, end 2029
(£949k)
EBITDA 2029
27 months
Runway from close
  • • No second developer ever signs
  • • Same hiring plan and cost base as Base
  • • Cash floor reached in mid-2029: the raise funds a sales plan, not one account
  • • Revenue £32k / £62k / £70k

Base

The plan

£814k
Revenue 2029
15 / 61
Developers / sites, end 2029
(£243k)
EBITDA 2029
34+ months
Runway from close, funded through 2029
  • • Pilot converts May 2027; Developers 2 and 3 sign in the second half of 2027
  • • Nine developers by end 2028, fifteen by end 2029
  • • Lowest post-close cash £492k
  • • Revenue £66k / £354k / £814k

Upside

Faster signings plus one Tier-1

£1.98M
Revenue 2029
16 / 101
Developers / sites, end 2029
£693k
EBITDA 2029
35+ months
Runway from close
  • • Developers sign a quarter earlier with larger site counts
  • • One Tier-1 housebuilder at 30 sites from January 2029 at a negotiated rate
  • • Broker referral line switched on from 2028, subject to FCA perimeter advice
  • • Revenue £108k / £673k / £1.98M

Unit economics

Per reservation, per site,
per developer

Per accepted reservation

Per-deal fee
£245
Verified bidders per reservation
2.5
Verification cost per bidder
£7.75
Title data and twin
£8.50
Variable cost per reservation
£27.88
Margin on the per-deal fee
89%

Per active site, steady state

Subscription per year
£9,000
Reservations per year, at 0.55 a week
28.7
Per-deal fees per year
£7,026
Handoff fees per year, 2029 uptake
£1,290
Revenue per site per year
£17,316
Revenue per plot sold, all in
£604

Per developer

Average sites per developer
4.1
Gross profit per developer per year
£67,248
Fully loaded acquisition cost
£20,000
Payback
3.6 months
LTV to CAC, five-year cap
17x

Sales are founder-led into existing COINS housebuilder relationships. No churn data exists yet, so lifetime is capped at five years for the illustration.

The ask

£2M seed round

Use of funds is derived from the cost plan for the first 24 months after close, not allocated top-down.

Use of funds, first 24 months

Where the money goes

Product and engineering£665k 33%
Lead engineer, two engineers, contract design, tooling, security work and HMLR live OC1 promotion
Go-to-market£395k 20%
Head of Developer Sales, customer success, housebuilder events, site visits
Compliance, operations and G&A£548k 27%
Founder, MLRO and compliance lead, regulatory set-up, insurance, finance, office, recruitment
Cost of sales£102k 5%
Buyer verification, title data, UK and EU hosting
Contingency£80k 4%
5% of operating costs
Less revenue in the same 24 months
(£521k)
Net cash required
£1.27M
Reserve beyond month 24
£651k

Runway

Funded through 2029

Raise
£2,000,000
Net of raise costs at 4%
£1,920,000
Average net burn, first 24 months
£52,866 a month
Peak net burn
£71,143 a month
Lowest post-close cash, Base
£492k
Runway from close
24+ months

Terms

The round

Pre-money valuation
£8,000,000
Post-money valuation
£10,000,000
Equity offered
20%
SEIS and EIS
Advance assurance to be obtained

Key assumptions

What moves the numbers

Forward-looking statements. The figures on this page are a management forecast prepared by HomeBid Ltd on the assumptions stated above and in the financial model. They are not a commitment and actual results will differ. This page forms part of a financial promotion communicated only to persons who are certified high net worth individuals or self-certified sophisticated investors under Articles 48 and 50 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, or to whom it may otherwise lawfully be communicated. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. SEIS and EIS relief depend on HMRC advance assurance being obtained and on each investor's own circumstances. Take independent advice.

The full model is in the data room

Monthly engine to December 2029. Three scenarios. Every assumption editable. Every source listed.

£1.07M
Exit run-rate ARR, December 2029
15
Developers by end 2029
1,379
Chargeable reservations in 2029
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