Congratulations on a successful campaign! We will now work with you to complete the transaction. Please keep in mind that there is a regulatory 7-day period from closing the campaign before we can transfer funds. In the meantime, we will need a few items to be completed.
Complete ‘your tasks’ section on your closing dashboard
Please complete the checklist of items through your campaign dashboard.
Tax relief application (if applicable)
To enable the Republic Europe nominee investors to claim the relevant tax reliefs, we need to complete and submit an application to HMRC. We need some information about your business in order to take care of his paperwork. Please complete this through your closing dashboard. If you would like help completing the EIS application for your offline direct investors, we can introduce you to our partner, who can offer this service. Please contact your campaign manager for more information.
Direct investor payments (if applicable)
You will need to provide proof of receipt of funds from direct investments that were reflected in the campaign. A copy of the company’s bank statement showing the funds transferred into the account will suffice. Please upload these to your closing dashboard.
S/EIS Advanced Assurance (if applicable)
If the investment round is S/EIS eligible, you will need to provide a copy of the advanced assurance received from HMRC prior to the transfer of funds. Please upload this to your closing dashboard.
A recent bank statement and documents to show runway
For confirmation of the account we are to transfer to, please provide a copy of the most recent bank statement from your company account, which shows the full account details (company name, account number, sort code), the current balance, and the date.
Before we can fund, we also need to ensure the company has at least 6 months of runway from the point we fund. For this, we will request a P&L from the last 6 months, evidence of your current cash balance, and a financial forecast. Please upload these to your dashboard.
EU banking compliance steps (if applicable)
If you opted for your campaign to be open to EU investors, you will see the two additional steps on your dashboard. This is a mandatory Strong Customer Authentication (SCA) process designed to comply with European regulations. The steps requested are to confirm the bank account we are to transfer funds to.
KYC checks
We will need to run final KYC checks on the company, its directors and majority shareholders. For this, please send documentation to support these checks, including proof of identity (e.g. passport, driving license) and proof of address dated within the last 3 months (e.g. utility bill, bank statement). If not already done so, please email these documents to your campaign manager.
Closing documentation
Republic Europe will prepare the legal documentation required to close the round based on what was agreed before the campaign launch, and we will work with you to ensure that these are in final form. Once prepared and agreed upon, we will circulate these for signing electronically via DocuSign.
Funds transfer
Once all documents have been signed and the above steps have been completed, Republic Europe will arrange the funds transfer to the nominated bank account.