01 · Investment Thesis
I
100,000+ treatments over 16 years. European patent EP2549972B1. Atlas Horse device with 1,200+ units sold globally. This is not a hypothesis — it is a validated clinical method seeking scale.
II
Ridesum (AI measurement) drives demand for treatment. Treatment generates data back to the platform. Certified partners expand the network. Each layer reinforces the others.
III
The global equine industry exceeds $300 billion annually. Average horse owner spends six figures per year. Yet virtually all decisions are made without objective data. No incumbent platform exists.
02 · Business Model
Revenue Stream 1
ConfirmedAI-driven biomechanical analysis app for horse and rider. Subscription model at SEK 49/month. Currently live with 222 paying users across 144 countries.
Price
49 kr/mo
Net/user/mo
~27 kr
CAC (Meta)
9.50 kr
Industry CAC
100–500 kr
Revenue Stream 2
ProjectedFranchise-style clinic network with certified therapists. Platform launching Q4 2026. Revenue from monthly license fees and treatment royalties.
License/partner
5,000 kr/mo
Royalty rate
12.5%
Avg treatment
1,150 kr
Platform live
Q4 2026
Unit Economics — Ridesum B2C (confirmed at current scale)
9.50 kr
CAC
Confirmed Apr 2026
~540 kr
LTV (at 5% churn)
Net revenue / churn rate
~57×
LTV / CAC
Exceptional ratio
< 1 month
Payback period
CAC / monthly net
03 · Financial Overview
The following projections are based on confirmed unit economics (CAC, pricing) and conservative assumptions for churn and partner acquisition. Crowdfunding proceeds (2–5 MSEK) are not included in the base model — they accelerate growth beyond these projections.
P&L Summary — Annual (SEK)
| 2026 (Q2–Q4) | 2027 | 2028 | |
|---|---|---|---|
| Total Revenue (net) | 949K | 6.66M | 11.7M |
| Total Costs | 1.34M | 2.33M | 3.53M |
| EBITDA | −393K | +4.33M | +8.19M |
| EBITDA Margin | −41% | 65% | 70% |
| Accumulated Cash Flow | −393K | +3.94M | +12.1M |
Key Operating Metrics — Year-End
| 2026 | 2027 | 2028 | |
|---|---|---|---|
| Paying Ridesum users | 4,115 | 6,610 | 9,563 |
| Clinic Partners | 0 | 0 | 30 |
| MRR (Ridesum + License) | 512K | 822K | 1.34M |
| ARR | 6.1M | 9.9M | 16.1M |
| Meta ad spend (annual) | 49.5K | 600K | 1.8M |
| CAC (Q4) | 13.7 kr | 28.4 kr | 58.8 kr |
5-Year Scenario Targets
| Scenario | Paying Users | Clinic Partners | MRR |
|---|---|---|---|
| Bear | 300,000 | 3,000 | 8M |
| Base | 750,000 | 8,000 | 20M |
| Bull | 2,000,000 | 30,000 | 419M |
Note: All projections assume conservative 5% monthly churn (unvalidated) and 20% quarterly CAC escalation. Actual results may vary materially. See Risk Factors below.
04 · Use of Proceeds
The base financial model operates without external capital. Crowdfunding proceeds are allocated to accelerate growth across five strategic areas, each designed to shorten time-to-scale and strengthen competitive moats.
05 · Milestone Plan
Phase 1 · Q2 2026 (Apr–Jun)
ConfirmedPhase 1 · Q3 2026 (Jul–Sep)
ProjectedPhase 2 · Q4 2026 (Oct–Dec)
ProjectedPhase 3 · Q1–Q2 2027
ProjectedPhase 3 · H2 2027
ProjectedScale · 2028
Projected06 · Traction & Proof Points
US Show Jumping Team
ConfirmedAdopted the method. Won the World Championship.
Kyra Kyrklund
ConfirmedOlympic medallist and international dressage icon. Course partner in the Ridesum training package.
Lisen Bratt Fredricson & Stephanie Holmén
ConfirmedElite riders contributing to the certification course program alongside Kyra Kyrklund.
Winter Equestrian Festival, Wellington
ConfirmedFascia Horse therapists treated horses on-site during WEF — the world's premier equestrian event.
Intellectual Property
European Patent EP2549972B1
Patented fascia treatment method for animals. Provides structural competitive moat against replication.
07 · Team
Axel Bohlin
CEO & Co-founder
Strategic lead. 16 years building the Fascia Innovation ecosystem. Drives franchise expansion, production scaling, and AI-driven knowledge platforms.
Klara Bohlin
COO, Ridesum
Operational lead for Ridesum. Manages user growth, community strategy, and content partnerships. Drove the 400% conversion increase.
Ivar Bohlin
Sales Director
Leads Atlas Horse machine sales globally. Manages B2B relationships and partner acquisition pipeline.
Camilla Ranje Nordin
Clinical Director
Head of treatment methodology and therapist certification. Ensures clinical quality across the partner network.
Advisory & Strategic Partners
Kyra Kyrklund
Olympic medallist, dressage. Course partner and brand ambassador.
Lisen Bratt Fredricson
Elite rider. Course contributor and method advocate.
Rolf Göran Bengtsson
GCT champion. Indirect shareholder and proof-of-concept partner.
08 · Risk Factors
Investing in early-stage companies carries significant risk, including the potential loss of the entire investment. The following risks are the most material to the company's near-term trajectory.
Churn rate unknown
HighThe model assumes 5% monthly churn, but this has not been validated. The difference between 2% and 10% churn is dramatic for the entire financial model.
Mitigant: Churn measurement is the #1 operational priority for Q2 2026. First reliable data expected within 60 days.
Partner pipeline unconfirmed
MediumNo formal partner agreements exist yet. The model assumes 15 paying partners in Q1 2027, ramping to 50/quarter by 2028.
Mitigant: Existing network of 1,200+ Atlas Horse device owners provides a warm pipeline. First formal agreements targeted for Q4 2026.
CAC escalation at scale
MediumCurrent CAC of 9.50 kr is proven only at 1,500 kr/month spend. The model assumes 20% quarterly escalation, but actual scaling may be faster.
Mitigant: Phased scaling plan: 10× test in Q3, 50× in Q4. Each step validated before the next. Organic growth (25% of paid) provides buffer.
Single-market concentration
MediumRevenue is currently concentrated in Sweden. International expansion introduces regulatory, cultural, and operational complexity.
Mitigant: 16 years of Swedish validation de-risks the method. Ridesum already has users in 144 countries. Nordic expansion is the natural first step.
Key person dependency
MediumThe company relies heavily on the founding team's domain expertise and relationships.
Mitigant: Certification program systematizes knowledge transfer. Advisory board provides strategic depth. Platform reduces dependency on individual practitioners.
Technology integration risk
Low–MediumMerging three existing systems (Ridesum, treatment platform, clinic management) into one unified platform is technically complex.
Mitigant: 40% of proceeds allocated to product development. Phased integration approach reduces risk of single-point failure.
Next Steps
Request the full investment memorandum, schedule a call with the founding team, or register your interest in the current round.