Don't invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
- You could lose all the money you invest
- If the business you invest in fails, you are likely to lose 100% of the money you invested. Most start-up businesses fail.
- You are unlikely to be protected if something goes wrong
- Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here.
- Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
- You won’t get your money back quickly
- Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.
- The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.
- If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.
- Don’t put all your eggs in one basket
- Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
- The value of your investment can be reduced
- The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.
- These new shares could have additional rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.
If you are interested in learning more about how to protect yourself, visit the FCA’s website here.
| Type: | Single Company EIS |
|---|---|
| Sector: | EV technology |
| Target return: | 5x |
| Funds raised / sought: | £1.4m / £3m |
| Minimum investment: | £20,000 |
| Next application deadline: | 11 Sep 2026 (5pm, cleared funds) for first close |
| Type: | Single Company EIS |
|---|---|
| Sector: | EV technology |
| Target return: | 5x |
| Funds raised / sought: | £1.4m / £3m |
| Minimum investment: | £20,000 |
| Next application deadline: | 11 Sep 2026 (5pm, cleared funds) for first close |
| About this deal | What to expect post-investment |
|---|---|
| Haatch, the introducer of this offer, has reviewed the opportunity. Please read the offer documents carefully. | Haatch will produce initial and ongoing shareholder documents. |
This overview is provided to make it easier for you to form your own view about the opportunity.
Used by Royal Mail, Amazon and Just Eat: electric delivery vehicle company, with £1.7 million of orders secured
Founded by former Tesla and Dyson engineers, Minimal (the trading name of Minimal X Limited) has developed compact electric delivery vehicles and a fleet-management platform to help delivery operators move goods in congested urban areas more efficiently and at a lower cost. Established in 2023, its customers include Royal Mail and Delivery Mate (delivery service partner for Amazon, Vinted, Yodel, and Just Eat), with Evri recently confirming it intends to replace its entire London cargo bike fleet with Minimal vehicles.
The problem
Online shopping, food delivery apps and changing consumer behaviour have dramatically increased the volume of goods moving through cities. Consumers expect fast, reliable deliveries, often with real-time tracking and narrow delivery windows.
Meeting these expectations is particularly challenging in last-mile delivery, the final stage of the journey from a local depot to homes and businesses. Many deliveries are still carried out using vans that are poorly suited to dense urban areas, where congestion, limited parking, low-emission zones and rising operating costs can make operations slow and inefficient.
As delivery volumes continue to grow, operators are increasingly looking for more efficient logistics solutions – the global last-mile delivery market is projected to scale significantly past $300 billion by the early 2030s.
While electric vans may reduce emissions, they fail to address the challenges of traffic, road space and accessibility. Meanwhile, traditional vehicle manufacturers have been slow to design vehicles suitable for modern delivery networks.
Minimal’s solution
Minimal was founded by Patrick Bion (formerly Tesla and Arrival), Joe Allum (formerly Dyson and Arrival) and Liam Sill, a software and hardware engineering specialist with experience across EVs and autonomous systems.
The Company has developed a range of zero-emission, electric, cargo-carrying options, supported by a fleet-management platform to help move goods in busy cities more efficiently, navigating congestion, restricted access areas and limited parking.
Minimal’s flagship product is the four-wheeled pedal bike, Pedal 4, which is already used by Royal Mail and Delivery Mate partners including Amazon and Just Eat. A two-wheeled model, Pedal 2, is expected to be launched next year, with a moped Micro 2, small electric four-wheeler Micro 4, as well as autonomous driverless delivery “Bots” currently in development.
The Company's FleetOS software helps operators monitor vehicles, optimise routes and improve fleet performance using real-time data.
Together, the vehicles and software aim to reduce operating costs, increase deliveries per hour and improve the economics of delivery fleets. The Company reports customer studies show:
- 50% lower operating costs
- 36% more drops per hour
- 80% lower capital expenditure per deployment
- 94% lower CO₂ and energy usage
Case study
Minimal’s largest customer, Royal Mail
Royal Mail operates the UK’s largest electric delivery fleet and is targeting net zero emissions on last mile by 2035.
In July 2026, Royal Mail expanded its mix of zero-emission delivery vehicles for urban routes by rolling out its first pedal-assisted electric cargo carriers across the UK. Royal Mail has described Minimal as its “lead supplier for these vehicles” and has a live order for 20 Pedal 4 units.
The Pedal 4 cargo cycle is ideal for dense urban areas where congestion, limited parking and restricted depot space can reduce the efficiency of larger vehicles. It has a range of up to 37 miles and carries 2.5 cubic metres of cargo. It can be charged from a standard three-pin socket – so can operate from delivery offices without any dedicated charging infrastructure.
Minimal has found Pedal 4 completes more deliveries per hour than van alternatives, and at lower cost: at around 3.3p per mile to run, Pedal 4 is reportedly around 2.2x cheaper than an electric van and 5x cheaper than a diesel one. According to its estimates, total ownership costs over five years would be roughly 80% lower than for electric vans or micro electric vehicles.
˝Access to this level of data is going to simplify how we plan what vehicles we need. Minimal is our lead supplier for these vehicles.”
- Mark Riley, Fleet Design Manager, Royal Mail
Why consider investing?
In a £300 billion market spanning commercial vehicles, fleet software and urban logistics, Minimal estimates that urban logistics demand will grow 78% by 2030, while cost-per-drop using conventional van-based systems will increase by 25%.
Minimal is generating revenue: more than £400,000 of sales in the current financial year started in May 2026, from customers like Royal Mail and Delivery Mate (Amazon, Vinted, Yodel, Lime, Just Eat).
It forecasts revenue to reach £2.2 million by year-end, in April 2027 – not guaranteed. Contracts for 160+ orders (worth over £1.7 million) underpinning this forecast are already signed. The current funding round is intended to provide the capital required to deliver against this contracted revenue pipeline.
Furthermore, Minimal has 300+ pre-orders from customers waiting to contract, and a growing pipeline that includes Evri – which recently confirmed it intends to replace its entire London cargo bike fleet with Minimal vehicles, Amazon, DHL, UPS, Deutsche Post, Veolia and Tesco.
By 2028/29, it aims to deploy 8,000+ vehicles across the UK, EU and US – growing revenues to £28 million by 2028/29, with highly ambitious plans to reach 1 million vehicles and £1 billion revenue by 2035 – not guaranteed.
Minimal has a capital-light micro-factory model, designed to scale production faster and with leaner operations than traditional vehicle or competing EV manufacturers – a cost-efficiency that can be passed on to customers.
Its software-driven vehicle development is powered by in-house AI tools and small rapid teams. The aim is to build micro-factories in its target markets across the globe.
The opportunity
The Company is seeking to raise up to £3 million to help deliver its backlog of contracted orders worth £1.7 million, grow the order book across vehicles and FleetOS, and unlock working capital financing for hardware growth.
£1.4 million has already been committed by existing investors, and further commitments are expected from European VCs ahead of an £8-10 million planned Seed round next year – not guaranteed.
Wealth Club has an allocation of £500k under an Advance Subscription Agreement (ASA), expected to be EIS-qualifying – not guaranteed. The minimum investment is £20,000 and you can apply online. Based on the Company's forecasts, the target return for this private offer is 5x – high risk and not guaranteed.
As can be expected when investing early stage, the potential rewards are significant, but so are the risks. You should form your own view.
Important: The information on this website is for experienced investors. It is not advice nor a research or personal recommendation to invest. If you’re unsure, please seek advice. Investments are for the long term. They are high risk and illiquid and can fall as well as rise in value, so you could get back less than you invest.
Inside view of Minimal's micro-factory
The deal at a glance
| Type | EIS Single Company (ASA) |
| Stage | Pre-Seed |
| Date started trading | 2023 |
| Funding to date | £6 million |
| Notable current and previous investors | Blackfinch Ventures, Earth and Noa VCs, alongside angel investors with backgrounds at Baillie Gifford, UBS, Arrival, General Motors and Wolt |
| Fully diluted pre-money valuation | N/A (ASA) but there is a £20m valuation cap on conversion |
| Business / revenue model |
B2B Transactional |
| Revenue to date | £430k (started generating revenue in July 2026) |
| Forecast EBITDA positive* | Q4 2027 to Q1 2028 |
* Forecast and not guaranteed.
Note: the Company is currently loss making. Capital is at risk: you could lose your investment.
Risks – important
This is a single company offer with no diversification. It involves investing in an early-stage, loss-making business, which is by nature high risk and prone to failure. There is a risk that the capital raised may not be sufficient to achieve the Company’s objectives. You could lose all the amount you invest.
Like all investments available through Wealth Club, it is only for experienced investors happy to make their own investment decisions without advice.
There is no ready market for unlisted EIS shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realised return on your investment. Exits are likely to take considerably longer than the three-year minimum EIS holding period; equally, an exit within three years could impact tax relief.
To claim tax relief, you will need an EIS3 certificate, normally issued once shares have been allotted, which will be when the ASA converts. Please check the deployment timescales carefully. Tax reliefs depend on company maintaining its EIS-qualifying status. Remember, tax rules can change and benefits depend on circumstances. Before you invest, please carefully read the Information Memorandum which contains further details on the considerable risks – alongside the Wealth Club Risks and Commitments.
Structure and fees
Investors will invest in Minimal X Limited only via the Haatch EIS fund, an Alternative Investment Fund. The fund is managed by Haatch Ventures LLP, whilst Apex Unitas Limited (Mainspring) will act as the custodian and administrator. Wealth Club Limited is the introducer of this offer.
The investment is expected to be EIS-qualifying following conversion of the ASA – not guaranteed.
Key ASA terms:
- Conversion timing: during a qualifying funding round of over £6 million, with a long-stop of six months (March 2027, so expected to convert in the current tax year)
- Conversion price: the lower of a £20 million pre-money valuation or a 20% discount to the round’s share price.
All the services Wealth Club and, where applicable, its subsidiaries provide are governed by the Terms and Conditions of the Wealth Club Services.
Fees
A set-up and management fee of 6% will be payable to Haatch. This fee will be deducted from your subscription and will reduce the amount invested and on which tax relief can be claimed. There is also a fee of 4%, charged to the company.
Haatch will also receive a performance fee on returns over £1 per £1 invested: 25% on proceeds between 1x and 5x, 30% on proceeds over 5x.
Haatch will share these fees 50/50 with Wealth Club. This will not involve any additional costs to investors.
The fees and charges above are stated exclusive of VAT, which applies in some cases, as determined by the manager. Please check the VAT position carefully in the offer documents.
This financial promotion has been communicated and approved by Wealth Club Ltd on 27 August 2026
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.