# iPlaySafe Financial Model Mobile app + home STI testing kit that lets users get lab-verified sexual health status and share it with partners via a digital badge. - Canonical: https://finamodel.com/startups/iplaysafe - Excel download: https://finamodel.com/startup-models/iplaysafe.xlsx - Category: Health-tech - Model type: SaaS ARR / Valuation - Funding round: Seed - Funding: $1M - Founded: 2020 - Geography: UK launch first; roadmap to EU (Spain, France, Italy, Germany) then USA (NYC + California) [DECK, slide 13]. - Customer: B2B2C ## About the company iPlaySafe combines a mobile app with home STI testing and a shareable digital health-status badge. It gives users a way to order testing, receive results, and maintain a digital record designed to support safer social and sexual-health decisions. The company sells £99 test kits, a recurring six-month subscription, and can earn affiliate revenue from partners. Its consumer economics rely on initial kit conversion, repeat testing, subscription retention, trust, and efficient laboratory and fulfilment operations. The model forecasts kit sales, subscription conversion, repeat testing, lab and fulfilment costs, affiliate fees, and CAC. It separates one-time kit cohorts from recurring members, then includes clinical support, marketing, gross margin, working capital, cash burn, and runway. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition - Two-product bundle: (1) iPlaySafe App - medical-grade software (ISO 13485:2016, IEC 62304 compliant, EU-MDR ready) for tracking and sharing STI status; (2) iPlaySafe Home STI Testing Kit - CE-marked physical kit. - Four-step workflow: order kit online → collect sample at home → lab processes (Viapath) → results tracked in app and shared as a verified badge. - Badge concept: green (subscriber, tested negative within 6 months), blue (one-off test, negative within 6 months), red (6+ months since last test). - Dating-app integration: users can display badge on their dating-app profile via API partnership. - Branding and marketing designed by Healthy Pleasure Group, a sexual-health marketing agency. ## Market - Macro problem: 1 million STIs acquired worldwide every day; number is rising. - 1,500+ dating apps or websites globally. - Market validation by competitor revenue (proxy for market size, not TAM/SAM stated): - Everlywell est. annual revenue $130M - LetsGetChecked est. annual revenue $100M - Medichecks est. annual revenue $3.2M - No TAM/SAM/SOM figures stated in deck. - Tailwind: COVID-19 normalised home testing kits and electronic health-status sharing. ## Revenue model Three stated streams: 1. **B2C - kit sales**: One-off STI test kit purchase; avg. fee £99 per box. 2. **B2C - subscription**: Subscribers automatically receive a kit every 6 months; subscription price not stated in deck. 3. **Affiliates**: Pharmacies - referral/affiliate fee if results are positive and user needs medication; fee rate not stated. 4. **Partnerships**: Dating apps pay to integrate iPlaySafe API so users can display badge on profiles; deal terms not stated. No COGS, margin, or pricing breakdown beyond £99/box average in deck. ## Traction & metrics - No current revenue or user numbers disclosed. - Deck is a 2020 pre-launch pitch; targets are forward-looking projections, not traction. - 12-month target: 20,000 boxes sold. - 12-month revenue target: £2M. - Implied check: 20,000 × £99 = £1.98M ≈ £2M - internally consistent. ## Unit economics - ASP: £99 per box. - Subscription cadence: kit every 6 months for subscribers - implied annual subscription revenue ~£198/subscriber if retention holds. ## Competition / moat Direct competitors cited: - Everlywell ($130M est. revenue) - US home testing platform. - LetsGetChecked ($100M est. revenue) - UK/US home testing. - Medichecks ($3.2M est. revenue) - UK online blood tests. Claimed competitive advantages: - "World's first" testing + social-sharing platform - no incumbent combines kit + status-sharing badge. - EU-MDR readiness (most apps will need medical-device classification from May 2021). - Medical-grade compliance: ISO 13485:2016, IEC 62304 - ~1.5 years to achieve. - Dating-app API integration - network-effect moat if adopted at scale. - Proactive/positive brand positioning vs. fear-based incumbents. ## Team & funding ask / use of funds **Team**: - Georgia Di Mattos - CEO & Co-Founder - Bianca Dunne - CIO & Co-Founder - Dr. Rupert Wharton - Medical Director - Ulf Ek - Financial Advisor - Richard Bull - CTO **Partners**: - Viapath - lab integration - Zendra Health - medical-grade app development - MedDX - distributor integration **Funding ask**: - £1M Angel Round - 12-month runway to reach 20,000 transactions / £2M revenue - Use of funds: Not broken down in deck. --- ## Recommended financial model - **Archetype + why**: DTC inventory/subscription P&L with B2B partnership revenue line. This is a physical-kit + app business: unit economics hinge on kit COGS, fulfilment, and lab fees against a £99 ASP, layered with a recurring subscription tier and two small B2B streams (affiliate, API). A standard DTC 3-statement model (IS + simplified BS + CF) captures this cleanly. Not SaaS-only because the physical kit is the primary transaction unit and COGS are material. - **Forecast horizon & granularity**: 3 years, monthly in Year 1 (ramp to 20K boxes), quarterly in Years 2–3. - **Key drivers & assumptions**: - Kit ASP: £99 - Month-12 box volume target: 20,000 units - Monthly unit ramp: S-curve from ~200 units/month (Month 1) to ~3,000/month (Month 12) - consistent with angel-funded launch - Subscription mix (% of buyers who subscribe): 30% of buyers convert to 6-month auto-replenishment subscription - common for DTC health kits - Subscription renewal rate: 70% semi-annual retention - moderate assumption for health subscription - Kit COGS (lab + kit + fulfilment): £40–£50/box (~45–50% of ASP) - typical for UK home diagnostics with Viapath-grade lab; needs validation - App operating costs (Zendra dev maintenance, hosting): £15K–£25K/month - Marketing / CAC: £20–£35 per acquired customer in Year 1 via social + influencer (sexual health space); no deck data - Dating-app partnership revenue: £0 in Year 1 (integration pipeline), small per-API-call or flat SaaS fee from Year 2 - Affiliate (pharmacy) revenue: ~5–8% referral margin on positive-result medication; modest, model as £ per positive test × positivity rate - Headcount: 5-person founding team + 2–3 hires in Year 1 (ops, marketing); salary burn ~£300K–£400K/year - Angel raise: £1M; no follow-on terms stated - **Scenarios (Base / Bull / Bear - which variables flex)**: - **Base**: 20K boxes in 12 months, 30% subscription conversion, COGS 47% of ASP, CAC £28 - **Bull**: 30K boxes (faster dating-app API adoption accelerates virality), 40% subscription conversion, CAC £22 - **Bear**: 10K boxes (slower B2C adoption, dating-app API delays), 20% subscription conversion, COGS 52% of ASP - **Required sheets / outputs**: 1. Assumptions (all drivers, toggleable) 2. Volume build (monthly units: one-off vs. subscription; cohort renewal waterfall) 3. Revenue schedule (kit revenue + subscription revenue + affiliate + partnership) 4. COGS & gross margin 5. Opex (headcount, marketing, tech/infra, regulatory/compliance) 6. P&L / Income Statement 7. Cash flow (critical - pre-revenue raise, physical inventory timing) 8. Balance sheet (simplified) 9. Funding & runway (£1M raise → months of runway at various burn rates) 10. Scenario toggle ## Frequently asked questions ### Is the iPlaySafe financial model free? Yes. The iPlaySafe model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.