Tutora is an online marketplace, connecting tutors to students via its ‘best-match’ algorithm and hoping to reach its target goal of £350,000 on Crowdcube.
According to Tutora, the tuition industry in England and Wales is estimated to be worth £6 billion and they hope to take full advantage of this while making it easier to find tutors for children and adults.
“Tutors can create profiles in minutes, quickly fill their timetables and manage the whole of their business. Paid straight into their bank accounts and protected against cancellations, they can focus entirely on their teaching.
“Most importantly, we aim to bring trust and transparency to the industry. We vet every tutor before they join our team, but don’t stop there. Because every lesson is booked on our site, our ‘best match’ algorithm can find the best tutors, pulling them to the top of the search results, whilst removing those who we don’t feel offer a truly great service.” explains Co-Founder and CEO Scott Woodley on the crowdfunding site.
Thier model is simple: they receive a commission on every lesson taught, averaging 24 percent of the lesson price. Tutors can join the site for free, and there are no up-front or hidden charges for students. To reward the most popular tutors, our commission rate falls as they teach more lessons, from 25 percent to 20 percent, and then down to 15 percent.
Since launching just over 18 months ago, over 6,000 tutors from Tutora have taught over £1 million worth of lessons.
The investment raised will be used to build an online tuition platform, student and tutor apps, and further grow the Tutora community of tutors and students both nationally and internationally.
So far, Tutora has raised 65 percent of their £350,000 through 230 investors. They have 20 days left to fundraise and offer an equity of 7.69 percent.