Our founders strongly believe in a post-covid world where remote workers, digital nomads, and travellers will want to access a safe space to rest and work when they are away from home. We have been the first startup in the UK to allow local workers and travellers to book a pod and private room hourly during the day and for overnight stays. Providing a seamless check-in experience.
Pop & Rest is all about maximising the potential of under-utilised building spaces. We are tapping into current wellness trends and the new post-lockdown working environment to breathe new life into commercial property currently sitting empty. With your support, we will accelerate the deployment of our smart solution!
Mauricio, 31, Colombian, is a hospitality entrepreneur, having worked in Medical Tourism in Latin America and for Airbnb’s concierge startup GuestReady in the UK. He brings his operational knowledge, customer experience skills, and real estate network. He loves napping and meditation.
Yoann, 32, French is a tech entrepreneur and senior consultant, having worked for HSBC, IKEA and various early-stage startups. He brings his technical knowledge, growth and management skills. He experienced sleeping in our pod for a month and loved it!
We aim to launch our next hub of pods in East London near the busiest transport links, the city of London and Saint Paul - Tower Bridge, which concentrate a lot of office workers and travellers. Following on, we are planning another location in greater London in Q4 of this year.
We are going to convert the space to offer tech-enabled wellbeing and overnight accommodation. We work closely with the landlord on the fit-out and give the option for a revenue-generating partnership.
Our hub will feature soundproof modular pods with a high acoustic rating, smart dimmable lighting, air circulation/ventilation and furniture. Everything is designed to ensure a quiet and relaxing stay and optimised for a well-deserved sleep.
Our product team is developing a full end-to-end ecosystem to enable a seamless and contactless experience for the users. Our app will help landlord listing their spaces and help us optimise the logistics and management of all our hubs.
Raising equity and debt funding to develop the perfect solution for remote workers and travellers seeking a place to recharge. Our hybrid tech-enabled product will be deployed in our hubs and offered to landlords and building management companies.
→ We are raising equity funding, £150k min, to finance our growth, tech-enabled ecosystem development, and hiring a Head of property and Growth manager.
→ We are raising debt funding, £100k min, to finance assets to open our own branded hub spaces in London.
→ Join property investors, entrepreneurs and a proptech VC in our journey. We plan to deploy more than 500 spaces* by 2025.
→ A single pod/mini-suite will perform at an estimated 45% avg 5 years IRR, demonstrating our capacity to monetise decentralised physical space.
→ Our goal is to be sustainable within 7 years and offer you a 7x plus ROI.
→ Sleep deprivation and wellbeing is a combined market worth trillions of dollars according to the Wellness Institute and the Sleep Council.
→ The capsule/pod hotel and smart hospitality (space conversion for short-term stays) market are estimated to be worth between $700 and $1 billion.
→ The estimated obtainable market value for Pop & Rest is $50-75 million.
→ Our last quarter activity clearly shows a strong recurring bookings pattern from remote and essential workers looking for flexible working and overnight stays.
→ Post-covid, it is estimated that the travel industry will return to its level by the end of 2022 and continue to grow substantially.
We provide access to on-demand spaces to nap, meditate, sleep, therapy and remote work. Pop & Rest operates the pods and mini-suites set up in our branded hubs and within our partners’ listings. Our spaces are cleaned multiple times a day and maintained to the highest standards. For daytime users, we are aiming to instal disposable bed sheets dispensers. We offer flexible, dynamic price per hour depending on user demand, location, and seasonability.
Previously, we raised a love round of £20k in 2018 to establish our first permanent location and a pre-seed round of £80k in summer 2019. Our pre-seed investor is Pi Labs, a leading European VC. We used this investment to research, develop and launch our first manufactured pods in London. We also spent the last 12 months developing the technology (beta platform), enabling us to manage our spaces and customer stays while maintaining a healthy runway since the start of the pandemic. We are proud of our achievements with minimum investment.
Since summer 2018, We’ve received more than 3000 paid bookings in total. This figure includes both day & night bookings. Obviously, we could have got more, but the Covid-19 crisis forced us to pause our rapid growth between March - September 2020. Before covid-19, separate issues with building constructions and facilities experienced in the second half of 2019 had also negatively impacted our occupancy rate by 15-20%, as we were sometimes forced to turn down booking inquiries. Nevertheless, we believe that our early traction, press coverage, and excellent organic customer acquisition/rentention have proven a real demand for our solution. Our team has also learnt valuable operational lessons running two sites at the same time. It gives us confidence that we will establish Pop & Rest branded hubs as the future of flexible travel and people wellbeing. A latest trend on a BBC article, show that pay-by-the-minute pods can be used as flexible small workplace. Pop & Rest will come back stronger post-pandemic. Make no mistake about that.
Firstly, each of our spaces will be equipped with air conditioning and filtering systems, as well as disposable handwashing stations. Secondly, we will always ensure a minimum distance of 1.5m between the pods/ensuites. These measures have successfully been put in place at our Old Street location since the end of the first lockdown. Our solution ultimately provides social distancing, better safety, and privacy compared to a typical hostel dorm. In terms of cleaning, our support staff has to spend slightly more time cleaning the space than before, although we were already applying high cleaning standards before the pandemic hit us.
On the business side, our pods are available day & night and target different customer segments, reducing the risks to encounter big loss. Indeed, during lockdown 2 & 3, we relied on night stays from local travellers and essential workers to cover our fixed operating costs. We have a clear advantage if we compare with institutional hotel, hostel and workplace providers with significant liabilities and no flexibility in their offering. Being able to switch ON/OFF locations, we could run one location with a limited loss (less than a few thousand pounds per month).
As of March, we are gathering interests and discussing different funding sources to raise debt. Our target is to close the round by May, 30th, a couple of weeks before opening our next hub. It is important to note that this round is more of a bridge (or second pre-seed) and that we plan to raise a seed round in the first half of 2021.