May update

It’s May; what’s happening?

We’re almost there

Yesterday we placed our first order for 1,000 SIM cards; that’ll certainly get us started, and we hope they won’t run out too soon. It’s taken a lot longer to get to this point than we thought, mostly because of unexpected hurdles with launching a new network, but we’re getting there.

Each batch of SIMs we order will have a different name (and accompanying emoji). The first one I’m not going to tell you, but it’s definitely not a goat or chocolate yogurt… This breaks down with eSIMs, but that’s for another time.

Tim and I have been live on the network for the last couple of weeks with test SIMs, and we can’t wait to welcome the 3rd, 4th and 100th person to Zevvle. 🤓

What’s next?

Pricing, a new referral system, our mobile app… expect to see more about these in the coming weeks.

Not much to say here, except that we’re excited! There’s been mixed feedback to our referral program, from “This won’t work…“ to “OMG it’s brilliant!,” only time will tell… 🤷‍♂️

We’ll keep you posted!

Crowdfunding thoughts

We’re planning an equity crowdfunding campaign this summer, and we’re starting to lay the groundwork. The first question is where – which platform? Eventually we’d love to bring it in-house (similar to what Monzo did last year), but that’s for the future.

If you’re interested and have a platform preference, we’d like to hear about it, especially from an investor’s perspective. We need to take into account the terms that apply to us, the business, but each come with terms for investors as well. For example, paying an extra 1.5% to invest with Crowdcube, or paying 7.5% on any future profits with Seedrs. It’ll be an (S)EIS round (assuming Her Majesty’s Revenue and Customs like us).

If you have any thoughts on this – and would consider investing in a red, “challenger” mobile network – please let us know on our forum.

😊

Nick Goodall

Co-Founder