5) Describe the Issuer’s Business, Products and Services
BoxVn is a driver and Light Commercial Vehicle (LCV) supply business, achieving impressive growth since its inception, due to providing a high-level service at an affordable price point. BoxVn separates itself from the competition by providing both the driver recruitment and vehicle, along with insurance for the driver and goods in transit.
BoxVn is the only provider on the market who is dedicated to providing complete supply chain products and services.
The company has built strong industry relationships without advertising or pushing the business, growing to more than 400 vans on the road with minimal outside investment.
Funding will be used to greatly accelerate company and revenue growth, expanding its core business by capitalising on vehicle supply and territorial growth opportunities.
Additionally, the funds will be used to develop and expand the company’s sustainable and efficient solution strategy by acquiring electric vehicles, ensuring compliance with Ultra Low Emissions Zones recently introduced in London as well as the UK government’s air pollution targets.
COVID-19 has had a serious effect on the logistics market, but BoxVn has been stepping up to aid wherever possible.
Currently partnered with 2 charities, BoxVn drivers and vehicles, whilst closely following government guidelines, are helping to deliver over 20,000 meals per day to the elderly, vulnerable and NHS staff, along with toiletries and PPE to 25 hospitals based in the South East.
BoxVn started in October 2018 as a small recruitment business and quickly evolved into a driver and Light Commercial Vehicle (LCV) supply business offering services so unique that it has revolutionized flexible vehicle supply, unemployment and driver recruitment life cycle.
The company has built strong industry relationships without advertising or pushing the business, growing to more than 400 vans on the road with minimal outside investment.
The core business of BoxVn is the supply of Light Commercial Vehicles to logistics businesses on a flexible and medium-term basis, allowing customers to recruit drivers who are unable to afford their own vehicle.
BoxVn is uniquely positioned within one of the biggest and fastest growing sectors in the world and currently offers recruitment, compliance and LCV hire to several established partners across the UK.
The Company’s offering is unique, with most competitors being either recruitment or van suppliers; who do not supply vans with the courier stipulated hire and reward insurance with goods in transit.
As detailed on the company achievements, BoxVn has partnered with Zego insurance. Company Achievements
Year one turnover in excess of £650,000 without outside investment.
Year two Q2 turnover already exceeded £1m with minimal outside investment.
Exceeding growth expectations in year one with 260 vehicles on the road in December 2019. Insurance partnership deal with Zego an innovative InsurTech provider.
Signed heads of terms for reversal into a Shell company in preparation for listing on a recognised Stock Exchange.
Unprecedented 45% growth in the first 6 months of year two. The core business of BoxVn is operated using its standard rate card. Partners can choose between three vehicle types and add insurance options depending on the driver’s license type:
Vehicle
BoxVn Short Wheel Base BoxVn Long Wheel Base BoxVn Luton / Lo-Loader
25+ Under 25 (23/24) £210 pw £220 pw
£240 pw £250 pw
£265 pw NA
EU Licence £220 pw £250 pw £275 pw
