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Rob ten Hoove team 6
Rob ten Hoove Amsterdam, NL

Manufy - Sustainable Sourcing

Manufy is the first European platform to connect clothing brands with sustainably certified manufacturers from the EU. Fund the future of sustainable fashion!

$324.244 INVESTED
139%
$232.884 0
Minimum target amount Days left
€500.000 7,00% 5 jaar
Maximum target amount Interest rate Duration
Small_thumb_1584701726844-v4 Manufy - Sustainable Sourcing
INNER CIRCLE
Product

The clothing industry is one of the most polluting industries in the world. Let’s change that! Manufy is the first European (EU) platform for sustainable clothing production. We connect conscious brands with sustainably certified manufacturers from the EU, changing the fashion industry one production job at a time.

By doing this we hope to strengthen the European economy, create more support for local sourcing, provide in quality over quantity, help manufacturers to become more conscious about sustainability and help businesses of all sizes grow while reducing their ecological footprint.

Are you ready to join us?


Potential investors should read this summary as an introduction to the information memorandum. Every decision to invest should be based on studying the full information memorandum, including the attachments.

  • Issuing entity: Manufy B.V.
  • Website issuing entity: www.manufy.com
  • Type of issuance: Convertible bond
  • Issuance amount: € 200.000 Minimum - € 500.000 Maximum
  • Minimal nominal value per participation: € 200,-
  • Issue price: € 200,-
  • Conversion option: Under certain circumstances the bond can convert to shares of issuing entity
  • Conversion discount:
    3-12 months: 15%
    12-18 months: 20%
    >18 months: 30%
  • Use of funds: Growth, development and sales
  • Risk profile: High (starter existing not longer than 3 years, find out more about our risk profiles here)
  • Interest: 7% (single, accrued)
  • Collateral: None
  • Repayment: None
  • Early repayment option: No
  • Conversion: at follow up investment, minimum €500K or end of 5 year period
  • Symbid costs issuing entity: 5% success fee (Excl. VAT) Symbid costs investor: 1% administration fee (Excl. VAT)
  • Target group issuance: Retail investors
  • Expected return: Not fixed, depends on performance issuing entity. More info about the return can be found at the chapter ‘Return and dividend policy’ in the Financial section
The issuing entity is offering two convertible notes:

  • Convertible A for investors investing a minimum amount of € 20.000 who at conversion will participate directly in the share capital of the issuing entity;
  • Convertible B for investors investing an amount below €20.000 who at conversion will be issued depository receipts through a STAK.

Unique Selling Points

We connect European brands and manufacturers like no other:

  1. We are the only market-ready sourcing platform for the clothing industry that connects brands with manufacturers located within the European Union (EU). Working with EU manufacturers results in shorter transportation distances (less CO2 emissions), shorter lead times, no import duties, payments in your own currency, act under European law, better control of the production and working conditions, and supports the economy of the EU countries.

  2. Manufy solves the problem of multilingualism between trading partners in the EU. Not only is our platform available in the most commonly spoken languages in the EU, but we also offer real-time translation of the chat conversations between buyers and manufacturers. 

  3. We have an extensive database of manufacturers based in the EU, which covers most parts of the clothing supply chain.

We encourage more sustainable production:

  1. We undertake audit and validation of our EU-based manufacturers' level of sustainability, based on the Sustainable Development Goals (SDGs) set by the United Nations.

  2. Manufy is buyer-driven and stimulates manufacturers to produce more sustainably by offering sustainable and transparent manufacturers several benefits. By giving manufacturers tips and tricks (e.g., with benchmarks and subsidy possibilities), we want to help every manufacturer lower the footprint of their production process.

We help European manufacturers and brands get to the next level:

  1. The platform is freely accessible to manufacturers. The platform offers a lot of added value for micro and small enterprises. It helps manufacturers who have not yet transitioned to the internet to become visible in the digital space.

  2. We offer clothing brands all of the necessary tools to kickstart their production. This includes developing a freelancer platform with sourcing experts who can, e.g., help develop tech packs and advise on fabrics.

Revenue model

The Manufy platform allows a 162 billion European annual revenue industry to connect their demand and supply of clothing more sustainably finally. One of the important things of being sustainable is to pass the production costs so that the supply chain is profitable for all parties involved. Therefore, the business model of the Manufy platform is based on the idea that the production of clothing should create value for both the manufacturer and brand, rather than being a cost. Furthermore, the transaction and the (sustainability) data collected from the manufacturers on Manufy generates a lot of value and additional revenue.

This vision can be translated into specific revenue models, which are specified below.



Brands
It is free (and will always remain free) to find a manufacturer and place a request for quotation (RFQ) for brands. Within an RFQ, a brand specifies what kind of production job they need (e.g., 1,000 T-shirts made from certified organic cotton in Portugal). The goal in Phase 1 is to get both parties accustomed to the platform and experience how easy it is to get connected. In the near future (Phase 2), we will expect to have sufficient traction on the platform to develop new revenue streams by rolling out additional services, such as:

  • The creation of designs and tech packs by freelancers.

  • Contract and order management tools,

  • Transportation and insurance tools.



Manufacturers

To let manufacturers respond to a request for quotation (RFQ) and ’‘win' the production job, they have to bid with credits on each RFQ. Manufy offers manufacturers a free entry model (including five credits), allowing them to explore the platform, see what kind of RFQs are placed, and start bidding on them.

The cost for a manufacturer to win an order (the acquisition costs) is, on average, €50 (around ten credits), which is often lower than the actual order value and a lot cheaper than alternatives, such as obtaining business from trade shows or through agencies. This should, therefore, be a no brainer for every manufacturer.

Another reason we opted for this credit system because we wanted to give some weight to the moment of connection between manufacturers and brands. Competitors allow manufacturers to react to all of the requests made, often resulting in spam-like behaviour from manufacturers and annoyance from the brands. By asking a small fee on the manufacturing side to react, we ensure only serious, capable, and interested parties engage.

At the moment, we offer manufacturers the credit system as a prepaid model. In the upcoming months, we will experiment with the transition to a subscription model, including a fixed amount of credits per month. Furthermore, featured listings and ads are also on the roadmap.



Data

At this moment, we do not know how “green” the European apparel industry is. In the EU, there are approximately 80,000 small apparel and textile manufacturers (<50 FTE), of which no specific sustainability data is known. With the European Green Deal and UN goals in mind, it is useful to get a blueprint of the current sustainability status of these companies. Based on this blueprint, the effect of future developments/grants can then be measured.

Manufy is the first EU-focussed digital platform where we motivate manufacturers to become more sustainable. Manufacturers who are willing to share more (sustainability) information about their business and want to improve their business to become more sustainable will get additional benefits. We expect that insights based on our data will be valuable for external parties.


Achieved so far



Required investment and purpose

Risks

General risks associated with SME investing

  • Risk of competition in markets where the issuing entity is active. 
  • Negative impact through changes in rules and regulations by political decisions. 
  • Changes in macroeconomic conditions. 
  • Performance of issuing entity is dependent upon functioning of board members. 
  • There is a risk the issuing entity may go bankrupt. 
  • Tax risks through changes in regulations, new regulations or political decisions.



Product specific risks associated with investing through convertible bonds 

  • The lender agrees that its claims against the borrower under the convertible bond agreement used on the Symbid platform rank below all other, non-subordinated, claims against the Lender as referred to in Section 3:277.2 Dutch Civil Code (‘BW’). 
  • Borrower issues a (subordinated) convertible bond, which the lender can convert at a later stage to depository receipts to become a shareholder of the company. Lender expects an (exponential) growth of value of the company with the possibility to sell the depository receipts with a capital gain. However, in most situations, such capital gains do take more than an additional five years after conversion to be realized. In exchange for the possibility of a high return in case of a scenario of exponential growth of the value of the company, there is a risk the investment will be lost in case the company is not doing well. 
  • Order of payment: Payment of returns will happen after payments to creditors and redemptions have been done. There is a risk that the issuing entity has inadequate liquid assets to pay the returns. This means that (a part of) your return can't be paid, if this occurs. In case of a bankruptcy, the following payments have priority over the payments of the returns of this convertible bond: Outstanding creditors and existing loans. This means that in case of a bankruptcy the return on the convertible bond cannot be paid. 
  • There is no formal secondary market for the convertible bonds, hence options for trading these convertible bonds are limited. It may be that there is no buyer in case you wish to sell your convertible bond(s). This means there is a risk you can't get your money on the desired moment and have to hold on to your investment or sell the convertible bond for a lower price.
  • Repayment in cash of the convertible bond can only be on the initiative of the borrower, taking in consideration the subordinated status applicable to the convertible bond. Also the lender agrees conversion can take place early in certain circumstances resulting in lower or no conversion discounts.

  • A conversion discount will not be applicable for lender in all conversion scenario's, this might have a negative impact on the financial return.

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Rob ten Hoove
Founder & Managing Director of Manufy B.V.

Rob studied Industrial Engineering and Management at the Rijksuniversiteit Groningen. His first entrepreneurial steps were made during his study. He founded the company Pockies which has grown from a national startup to European scale up. Rob will use his extensive knowledge of business modelling, product development and his positive energy to support Manufy.

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René van Doren
Founder & Responsible for Finance + Tech

After finishing his study of Information Technology, Rene started the first online insurance platform in the Netherlands with a full digital application process, called onlineverzekeren.nl. He sold this company after a few years to an international insurance company. In 2019 he sold some of his companies to focus on Manufy.

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Karel Bosman
Founder & Responsible for Marketing

Karel, another founder of Pockies, is responsible for marketing. After finishing his Middle Eastern Studies at the Rijksuniversiteit Groningen he has specialised in online marketing & customer satisfaction. His creative skills, combined with his optimism, ensure that he always knows how to sell his product or service. Karel will do almost everything to make his customers happy.

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Michiel Dicker
Founder & Responsible for Sales + PR

Michiel, the third founder of Pockies, is responsible for PR and sales. After his study of Journalism at the Rijksuniversiteit Groningen he found proven ways of effectively getting free exposure in the media. Several of his performances, including those on national television, have gone viral. Especially his fast thinking, perseverance and strict follow-up makes him the perfect salesman for Manufy

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The issuing institution is Besloten Vennootschap (BV), incorporated on 06-02-2020 and located in Groningen, The Netherlands, under the Chamber of Commerce number 77256026. The address of the issuer is Sylvyuslaan 5, Groningen. The issuer’s website is www.manufy.com.

Overige teamleden



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Manufy works as a partially flexible IT development, marketing, and customer support workforce. In the coming years, we will further scale our team flexibly and align with the realised growth. In general, we expect to hire data scientists, developers, onboarding specialists, and sustainability experts. 



Sales and Marketing

Online marketing and sales costs will increase as we will need to invest in customer acquisition and brand awareness, allowing the organisation to grow to the required team size. We will hire more sales employees and customer experience personnel to support our platform’s users at the expected service level.



Data Scientist and Developers

We need to hire a data scientist and sustainability expert who can develop models to audit manufacturers' sustainability based on big data. Furthermore, we need to hire more developers with knowledge of artificial intelligence/machine learning to improve the infrastructure and add additional functionality to both the front and backend. 



Onboarding Specialists and Customer Support 

With increasing numbers of buyers and sellers, customer support questions are also growing. Our goal is to eventually combine customer support tasks with the team responsible for onboarding new customers.


The product

As of now, Manufy offers a marketplace for clothing brands and sustainable manufacturers based in the EU. On the platform, we connect both parties, offering new leads to manufacturers and helping brands start their sustainable sourcing journey.

Getting started is easy. Brands place a Request for Quotation (RFQ), where they specify the details of the product that they would like manufactured (e.g., 100 t-shirts made from organic cotton in Portugal). Relevant manufacturers then get notified and can, in turn, bid on each RFQ by spending credits (1 bid = 1 credit). This is when brands get to chat, compare, and choose between the manufacturers that have made them an offer. After successful negotiations, the brand and manufacturer are matched, and the production run can begin.

Manufy offers a variety of tools to help both brands and manufacturers get the job done. Both parties have their own personal dashboard that shows everything there is to know about their business. They can also find here new RFQs, chat messages in their inbox, and comparison tools to make informed decisions on whom to work with.

In the future, we will further expand Manufy’s toolbox by integrating Product Lifecycle Management (PLM) and other supply chain-related tools onto our platform. This includes tools to support, e.g., contract and order management, invoicing, and tracking orders. In addition, we will also integrate external services (e.g., directly booking and bundling of transport). By offering these tools via a subscription plan, we hope that users will manage all of their orders on our platform, creating a stronger lock-in while doing so.

Furthermore, we will offer an overarching “European Chamber of Commerce” for the manufacturing industry, including general company and sustainability information. This will be available by data licensing and advanced sectorial reporting.




Unique Selling Points

We connect European brands and manufacturers like no other:

  1. We are the only market-ready sourcing platform for the clothing industry that connects brands with manufacturers located in the EU. Working with EU manufacturers results in shorter transport distances (less CO2 emissions), shorter lead times, smaller minimum order quantities, no import duties, payments in own currency, better control of the production and working conditions, and supports the European economy.

  2. Manufy solves the problem of multilingualism between trading partners in the EU. Our platform is available in the most commonly spoken languages in the EU. We also offer real-time translation of the chat conversations between buyers and manufacturers. 

  3. We will have an extensive database of manufacturers based in the European Union, which covers most sectors of the clothing supply chain.

We drive the level of sustainability production:

  1. Audit and validation of our EU-based manufacturers' level of sustainability, based on the Sustainable Development Goals (SDGs) set by the United Nations.

  2. Manufy is buyer-driven and stimulates manufacturers to produce more sustainably by offering sustainable manufacturers several benefits. By giving manufacturers tips and tricks (e.g., with benchmarks and subsidy possibilities), we want to help every manufacturer lower the footprint of their production process.

We help European manufacturers and brands get to the next level:

  1. The platform is freely accessible to manufacturers with a lot of added value for micro and small enterprises. It helps manufacturers who have not yet made the step to the internet to become visible on the internet.

  2. We offer clothing brands all of the tools to kickstart their production. This includes developing a freelancer platform with sourcing experts who can, e.g., help develop tech packs and advise on fabrics. 

Revenue model

The Manufy platform allows a 162 billion European annual revenue industry to connect the demand and supply of clothing more sustainably finally. One of the important things about being sustainable is to pass the production costs so that the supply chain is profitable for all parties involved. Therefore, the business model of the Manufy platform is based on the idea that the production of clothing should create value for both the manufacturer and brand, rather than being a cost. 

This vision can be translated into specific revenue models, which are specified below.


Brands

It is free for brands (and will always remain free) to find a manufacturer and place a request for quotation (RFQ). Within an RFQ, a brand specifies what kind of production job they want to be done (e.g., 1,000 T-shirts made from certified organic cotton in Portugal). The goal in Phase 1 is to get both parties accustomed to the platform and experience how easy it is to get connected. In the near future (Phase 2), we will expect to have sufficient traction on the platform to develop new revenue streams by rolling out additional services, such as:

  • The creation of designs and tech packs by freelancers.

  • Contract and order management tools.

  • Transportation and insurance tools.

Manufacturers

To let manufacturers respond to a request for quotation (RFQ) and ’‘win' the production job, they have to bid with a credit on each RFQ. Manufy offers manufacturers a free entry model (including five credits), which allows them to explore the platform, see what kind of RFQs are placed, and start bidding on them. 

The cost for a manufacturer to win an order (the acquisition costs) is, on average, €50 (around ten credits), which is often lower than the actual order value and a lot cheaper than alternatives, such as obtaining business from trade shows or through agencies. This should, therefore, be a no brainer for every manufacturer.

Another reason we opted for this credit system because we wanted to give some weight to the moment of connection between manufacturers and brands. Competitors allow manufacturers to react to all of the requests made, often resulting in spam-like behaviour from manufacturers and annoyance from the brands. By asking a small fee on the manufacturing side to react, we make sure only serious, capable, and interested parties engage.

At the moment, we offer manufacturers the credit system as a prepaid model. In the upcoming months, we will experiment with the transition to a subscription model, including a fixed amount of credits per month. Furthermore, featured listings and ads are also on the roadmap.


Data

At this moment, we do not know how “green” the European apparel and textile industry is. In the EU, there are approximately 80,000 small apparel and textile manufacturers (<50 FTE), of which no specific sustainability data is known. With the European Green Deal and UN goals in mind, it is useful to get a blueprint of the current sustainability status of these companies. Based on this blueprint, the effect of future developments/grants can then be measured. 

Manufy is the first EU-focussed digital platform where we motivate manufacturers to become more sustainable. Manufacturers who are willing to share more (sustainability) information about their business and want to improve their business to become more sustainable will get additional benefits. We expect that insights based on our data will be valuable, which can then be sold to stakeholders, such as different NGOs and even local or European governmental organisations.

Scalability

From the start, we built Manufy in a way to ensure scalability in the long run. Since December 2020 and until May, this has already resulted in an average MOM growth rate of 64% in activated brands, 26% in activated manufacturers, 79% in placed RFQs, 137% in credits spent, and 316% in credit revenue. When the network effects of the Manufy platform kick in, we expect the growth rate of activated brands to increase further. Furthermore, the Manufy platform aims to let 5% of all clothing and textile manufacturers use our platform by 2022. This accounts for 4,000 registered and activated manufacturers. At the moment, we already have 17,000+ manufacturers in our database, from which 470+ are activated. Lastly, we can further scale by increasing the average number of brands served by manufacturers.

We have purposely chosen to start in the clothing and textile industry since the founding team has much experience in this industry. With that being said, the ambition has always been to create a platform that operates beyond the boundaries of the clothing industry. In essence, Manufy should be a platform for connecting sustainable EU manufacturers with buyers regardless of their industry, promoting sustainability across the board. The platform was built from the ground up with the idea of scaling to other industries in mind. This means that when we have reached a coverage ratio of 5% in the European clothing and textile industry, we will expand to other sectors like furniture, food, or any other manufacturing industry.

Current status


The Manufy platform is now fully operational for the clothing and textile industry. It offers a solid set of functionalities and features:

  • Profile page and dashboard for both parties to showcase their business.

  • Placing Requests for Quotation (RFQ).

  • Comparing and analysing different offers from manufacturers.

  • Website is available in the most commonly spoken languages including in the EU.

  • Chat between buyers and manufacturers with real-time translation of the conversation.

For the currently available functionality, please refer to our website.


Planned developments

Phase 1: Market Place Roll-out

In the current phase, we will accelerate the development of our MVP based on continuous user feedback to a mature and smart marketplace. This includes developing the “Manufy Sustainability Score” for manufacturers based on the 17 Sustainable Development Goals (SDGs) defined by the UN. This way, we can claim to be a “sustainability platform” by smartly combining manufacturer information with public sources and big data. 

In the first months of being live, we have collected a lot of user feedback. One major insight was the lack of knowledge brands had in defining their (technical) product requirements. Providing manufacturers with the right product requirements will have an enormous impact on the chance for brands to find a suitable sourcing partner and start the production process. Therefore, we plan to start integrating a network of freelancers on our platform who will offer services during the various stages of the product development process. Manufy also jumps onto the irreversible trend for brands to be more transparent in the production locations of their products by offering easy to implement links to the Manufy manufacturer profile pages. 

We expect Phase 1 to take 8 - 12 months of development time. After establishing a clear brand and market positioning, it is now time to scale the platform. More brands and manufacturers will be connected, and the number of transactions on the platform will increase.



Phase 2: Market Network Roll-out 

In 2021, Manufy will become a stable marketplace proven in the clothing and textile sector. To better serve brands and manufacturers during the various stages of the order and purchasing process, we will further expand our software by integrating Product Lifecycle Management (PLM) and other supply chain-related tools onto our platform. This includes tools to support, e.g., contract and order management, invoicing, and tracking orders. By offering these tools on a SaaS basis, including a subscription plan, we hope users will start to manage all of their orders on our platform. In this way, we will expand the lock-in of our users.

Furthermore, we will investigate the development of the following functionalities as well:

  • Developing an overarching “European Chamber of Commerce” for the manufacturing industry, including general company and sustainability information.

  • Ads and Featured Listings: Manufacturers can advertise specifically on the platform to become visible in the ranking and send targeted messages. 

  • Integrated Partnerships: Set up collaborations with parties who can advertise on our platform or set up a far-reaching integrated collaboration (e.g., widget) with us. You can think of:

    • Booking and bundling of transportation.

    • Entire transportation and customs clearance.

    • Money credits (e.g., Factoring).

    • Booking a business trip to visit a production facility.

  • Data Licensing: Enable companies to license our data to develop new products with best-in-class company information to drive better in-product customer experience, e.g., APIs or bulk CSV exports.

  • Advanced Sectorial Reporting: We can provide insight into trends and actual figures relevant to research agencies. Think also about the indications of the reduction in Greenhouse Gas Emissions regarding the Green Deal. 

Phase 3: Expansion to Other Industries

This phase is still far ahead of us, and a lot can happen in the meantime. If our forecast is correct, Manufy will reach such a large scale (after 2024) that we will be the leading platform in the clothing and textile sector. This will result in the advantage that Manufy can force manufacturers and brands to produce more sustainably.

With the data collected in Phases 1 and 2, we will prioritise the interesting industries that we will focus on next (e.g., the furniture or food industry). From the start, we have developed Manufy in such a way that we can easily expand to other industries. However, to ensure success, we only want to integrate new industries one at a time.

In Phase 3, we continue to invest in growth and innovation. However, we will also reduce costs for manufacturers and brands that have a high sustainability score. Lastly, we will work on other initiatives that positively impact helping manufacturers produce more sustainably.


Target group

The user base of the Manufy platform can be divided into two groups: Manufacturers and buyers.


Manufacturers make up a group that benefits from the new way of acquiring customers. Manufy started by targeting smaller manufacturers in the clothing and textile sectors located in the EU and who were open to a sustainable future. There are approximately 55,000 clothing manufacturers and 24,000 textile manufacturers in the EU. In the clothing and textile sectors, around 40% of the companies are micro or small (<50 FTE). These smaller manufacturers, especially in the classic clothing producing countries (e.g., Portugal), lack online visibility. 


The manufacturers are using the Manufy platform to gain insights into the sustainability of their production processes and improve their processes. Small companies will also profit from the (still to be developed) Product Lifecycle Management (PLM) and other supply chain-related tools (e.g., contract and order management, invoicing, and the tracking of orders). In contrast to current expensive PLM software, these tools will be offered for a small monthly fee. They will offer all of the tools needed to improve the production processes of manufacturers intuitively.



These days, the aim of fashion brands to have their products sustainably made is growing daily. All fashion brands looking for production in the EU are, therefore, welcome on our platform. To effectively connect buyers to Manufy, we first need to define our target group of buyers who are most likely to be the early adopters of sustainable sourcing directly with the factories. We define a buyer at this moment as micro and small (<50 FTE) new (start-ups) or existing fashion brands. Moreover, we try to encourage a few big fashion brands to place some RFQs on our platform, positively impacting our brand reputation. In general, it does not matter how much experience buyers have in sourcing their clothing. With the Manufy software, they are offered all of the tools - from developing tech packs to structuring the negotiation process - to developing and producing their own clothing in the EU. 

Market size

Europe has a strong, continuously growing clothing market, home to some of the world’s biggest and most renowned clothing companies. With 5 million people directly employed in the fashion value chain and over 1 million people employed in the high-end industries, these activities provide an important contribution to the EU economy. The annual turnover of the textile and clothing manufacturing industries in the EU was valued at €162 billion in 2019 (Source: Statista 2019).

Competition

Despite the obvious demands in a market focused on sustainable production in the EU, no other clothing sourcing platforms solely focus on that. The Manufy platform is uniquely positioned in the market. The position of Manufy to its competitors is defined in the image below.



Customer feedback


Since the launch of the platform in December 2020, we have realised the following customer base (December 2020 - April 2021):

  • 1,400+ active brands, with more joining every day

  • 17,000+ manufacturers available at our platform of which 1,000+ are active 

  • 250+ production request being made since the start of 2021

Customer feedback

In the first months after going live with our MVP, we have gathered many useful insights and feedback from early adopters; from both the brand and manufacturer side of the platform. We have used their feedback to create short development loops to continuously improve Manufy and make the usability and customer experience better every day.

Collecting user feedback and using it to improve Manufy is an integral part of our development strategy. It helps us understand the needs of our audience, which translates into creating useful functionalities and a better working UX. Some of the improvements we were able to do within the first three months of being live are listed below.


Eliminating Language Barriers

With 24 languages spoken within the European Union, we quickly concluded that Manufy should actively reduce the language barriers between manufacturers and brands. Initially, we thought that using English as the main language would suffice. However, we learned that lots of people within the EU do not have sufficient English skills to understand the communication on the platform from the feedback we have received from users and our market research.


Solution: We added real-time translation to the platform, allowing manufacturers and brands to understand each other in negotiations, making the platform more user friendly. Also, we made the general website language available in multiple languages. The Manufy website is now available in English, German, and Dutch. We also expect to add new languages in the short term. The messaging system is already available in 24 languages (with real-time translation).


Create Offer Possibilities for Manufacturers

Our first draft of the request for quotation system was highly focused on making it as easy to use as possible for brands. When brands place an RFQ, they go through a couple of nicely designed forms where they fill out all of the necessary information. With everything completed, they confirm their RFQ, which is then shown on the manufacturer's Quotation wall.

At first, manufacturers were only able to ‘accept’ new RFQs by paying one credit. After doing so, they were able to chat with the brand that placed the request. But we discovered that manufacturers usually have some remarks about the RFQ or want to have an option to ‘counter’ the RFQ with their own offer. They, for instance, might have higher minimum quantities, have other certifications, or cannot manufacture at the proposed price point. 


Solution: Instead of just ‘accepting’ an RFQ, we created the option for manufacturers to create a counteroffer. Here, manufacturers go through similar forms as the brands to better explain what they are capable of and give the brands the best deal they can. This change has resulted in a better negotiation starting point for both parties. It increased the interaction between the two parties on the platform.


Lack of Technical Knowledge

We ran survey software that asked brands if there were any areas they got stuck while filling out the RFQ form. One clear point in that customer journey proved to be a hurdle: the tech pack.

The tech pack, or technical pack, is a set of drawings and size sheets that allow manufacturers to recreate products accurately. Most (starting) brands, it seemed, however, did not have such a drawing and mostly relied on product pictures or samples to start their production run. But when asked, they were very interested in obtaining such a tech pack.


Solution: We have added the possibility for brands to contact freelancers to get their tech packs made for a fee. This has resulted in a better understanding of the production process at hand for the manufacturer and more manufacturers reacting to RFQs.


Sales pitch

Pitch Manufacturers

As of now, finding new leads for your business might be quite a difficult task. Searching on the internet, traveling the world to exhibit on fairs or trying to get hold of brands through social media might have been the best way for now.


But these options can also be very time consuming (where to start?), expensive (sqm on trade shows are costly!) and might lead you in the wrong direction regarding customers (what does this customer need exactly?). Besides, Asian counterparts have been developing their business at a rapid pace for the last 20 years.


That is why I’d like to introduce you to Manufy: EU’s first sustainable sourcing platform! 


What is Manufy? It is an online marketplace that connects buyers to best suited EU manufacturers. Manufy lets you create your own business page where you can showcase your products, services and granted certifications. 


What differentiates Manufy from other, older, ways of gathering leads is the way its quotation system works. Buyers can easily request very specific quotations. You, as a manufacturer, will be notified when leads come in that aligns with your business. When a new quotation opportunity is available, you can react to the quotation to see if you can meet the demands!


Sounds interesting? Join Manufy today for free and enjoy the perks of Europe’s sustainable sourcing network!


Pitch Buyers


As of now, finding the right European manufacturer to manufacture your perfect product can be quite a difficult task. Roaming the internet, trade shows, or social media might have been the way to go. 


These options, however, can be very time consuming, expensive and could even lead you to the wrong manufacturer.


That is why I’d like to introduce you to Manufy: Europe’s first sustainable sourcing platform! 


What is Manufy? It is an online marketplace that connects buyers like you to best suited European manufacturers. 


Manufy lets you search for the right sustainable manufacturer in the EU. Our database consists of 5,000+ manufactures from 27 EU countries. To enter Manufy, they must have shown sustainable certificates of their respective branches. This way, you are always sure your new manufacturer is sustainable! 


What makes Manufy great for you as a buyer is that you can request quotations from all manufacturers on the platform. Manufacturers that suit your request will be notified by our systems. It makes it easy for you to compare different producers, prices, moqs and lead times. And the best part is: it is free!


Sounds interesting? Check out Manufy today for free and enjoy the perks of Europe’s sustainable sourcing network!


What has been done before

Marketing Initiatives

  • In 2020, we worked extensively on building a blog called Better Magazine. This is a source of information about sustainable production. Also, we will include interviews with leaders within the clothing sector. 

  • Include Manufy in the communication of complementary companies: Textile/fashion branch organisations, embassies, etc.

  • Send out press releases to branch/subject related journalists about the acclaimed role of Manufy in making the EU economy stronger and the ecological footprint of the industry smaller. 

  • Partnerships with existing trade shows are in the works.



Selection of PR Activities



Marketing & sales channels

1. LinkedIn (Buyers and Manufacturers)

Our team has been combing LinkedIn for the last couple of months to add, message, and link manufacturers (and buyers). When messaged, both manufacturers and buyers immediately receive a link to subscribe to the platform and our newsletter.


2. Exhibits (Manufacturers)

It might seem contradictory, but we will visit or have a stand at Trade Shows...To show that we have made Trade Shows obsolete. Maybe we will even be disruptive by standing in front of the door with a billboard telling the visitors that they can do business more sustainably with us.


3. Highly Targeted Social Advertising (Buyers and Manufacturers)

Because of the founders’ experience with online advertising, the Manufy team can create highly targeted ads.


4. A Referral System (Manufacturers)

Our market research has shown that manufacturers are quite willing to refer buyers to the platform. In exchange for a referral, we can offer two things:

  1. A review for the manufacturer by the buyer so their online ranking increases.

  2. All orders done between a referred buyer and the manufacturer will never cost a credit.

5. Utilising B2B (Buyers)

We collaborate with B2B platforms that connect brands with retailers to target their ‘brand-side’ of the platform.


6. PR and Advertising in Branch Magazines (Buyers and Manufacturers)

We'll combine our PR knowledge with smart advertisements to acquire new buyers and manufacturers.

Marketing objective

We aim to reach the following goals through our marketing efforts:

  1. Get more users on the platform.

  2. Creating brand awareness.

  3. Establish and consolidate our place within the industry.

The first goal is rather clear: More users on the platform means more business being done. We will actively use our knowledge of social media, PR, and activation campaigns to reach our target audiences and get them to join and use our platform.

Creating a strong brand that users can identify with is one of the most important parts of building a business. Manufy should be seen as a trustworthy, quality mark within the industry that both manufacturers and brands can rely on in the long run. We do this by linking our name to the right partners, creating interesting content about our discipline, and making Manufy a household name.

The final goal is to establish Manufy in the current landscape. With both offline and online competitors being active in the clothing and textile industries, marketing will help us seize our place.

Partnerships

Manufy is a platform that lends itself perfectly to partnerships. By partnering with different parties in the industry (for instance: sustainable certificates, trade shows, freight companies, product photographers), we can enhance the users’ experience and create a stronger platform altogether.

The plan is to implement intensive strategic integrations with various partners to improve the value of the platform. This can vary from extending the functionality (book a shipment directly with a freight company), increasing the business value (offering flights for factory visits with airway companies), or offering aftercare (show nearby photographers to take pictures of your new sustainable collection). This helps us give our users the best possible experience. However, there are also interesting revenue streams that can come forward from these partnerships.

As of now, we have partnered with the following companies:

  • Greenable: Acts both as a consulting partner for the Manufy platform and its manufacturers.

  • Renoon: A platform that shows which brands are sustainable and lets customers know where to find them.

Investment requirement

Manufy is looking for €200 k - €500 k growth money to further scale the company. Manufy offers a 7% return on the convertible bond, which is not paid out as cash in the meantime but converts into shares at a discount on the then-current valuation.

Risks

For an extensive explanation of the risks please have a look at the Risk section under "summary" at the top of this page


Trends
There is no information about known trends, uncertainties, requirements, obligations or events that can reasonably be assumed to have material consequences for the prospects of the issuing entity, for the current financial year.


No significant alteration in the financial or trading position

Since the most recently published and audited Financial Statements of the issuing entity, there has been no alteration of tenor in the financial or trading position of the issuing entity and the group to which the issuing entity belongs.


Corporate Governance Code

As the Dutch Corporate Governance Code only applies to companies with registered offices in the Netherlands, whose shares or certificates of shares are admitted to the official listing of a government-approved regulated market (securities exchange), the issuing entity (unlisted) does not apply this code.


Potential conflicting interests

There are no (potential) conflicts of interests between the obligations of the executive board members of the issuing entity on the one hand, and their own interests and / or other obligations on the other.


Procedures

There are no government interventions, court cases, or arbitrations, including such procedures that are pending or may be initiated, to the best of knowledge of the issuing entity, over a period of at least the previous 12 months that may have a significant impact, or have recently had, on the financial position or profitability of the issuing entity or the group to which the issuer belongs.


Figures

All figures in this information memorandum are not audited, unless explicitly stated otherwise.

Symbid and the platform 

Some Background Information on Symbi

Symbid's operations largely consist of the acceptance and disclosure of orders for retail, wealthy, and professional investors. Through its activities, Symbid supports the interaction between affected investors and progressive start-ups and growing companies in the SME in the Netherlands. This involves the financing of various types of projects that realize a positive impact the society with the help of an affected group of investors or ambassadors. Our platform provides a non-personalized, online recommendation to a broad audience, by allowing organizations to profile their project in a transparent and financially sound manner, and to professionally build and maintain the relationship with its financiers / investors. 

Tied agent

Symbid BV is a tied agent of the Limited company (Besloten Vennootschap), Ilfa Tools & Services B.V. as defined in the Dutch Act on Financial Supervision (Wet op het financieel toezicht (Wft)). Ilfa is an investment firm as defined in the Wft and has a license as defined in article 2:96 Wft. As a result hereof Symbid and Ilfa are both under supervision of the AFM. 

Other parties involved with issuance 

During the issuance, the following legal entities play an important role: 

  • Symbid Crowdfunding, a trade name of Symbid BV, a cooperative association with limited liability, registered in Rotterdam, office at Schiedamse Vest 154, Rotterdam, and registered in the commercial register of the Chamber of Commerce under number 52466825; 
  • Manufy BV: a limited liability entity which is the issuing entity;
  • Intersolve EGI B.V: Symbid has a partnership with Intersolve - First European E-money Trust - a Dutch financial institution that specializes in providing services in the field of settlement of payment transactions and electronic money. In order to be able to offer its financial services in accordance with the applicable financial legislation and regulations, Intersolve has a license as Electronic Money Institution and Intersolve is supervised by De Nederlandsche Bank (DNB) plus the Netherlands Authority for the Financial Markets (AFM).