Everything we would send after a first meeting, on one page. Start with the index; each section is short and links to the full document where there is one. Ask this page a question if you want a number without scrolling, or reply on a section and it reaches Ines and Tobi directly.
Brindlewick is inventory and service software for independent bike shops. A shop scans a part once and Brindlewick keeps stock, reorders from its three main distributors and books repairs against the parts that are actually on the shelf. Shops pay $149 to $349 a month by location.
Distributor catalogs opened public ordering APIs in 2025. Before that, every reorder was a phone call or a spreadsheet upload. Independent shops still run on paper and a point-of-sale that does not know what is in the back room.
MRR at month end, thousands of dollars. Source: billing system export, October 31.
Most new shops come from referrals inside regional dealer groups: 58% of the shops added in the last six months named another Brindlewick shop when they signed. Paid acquisition is $0 to date.
Full monthly metrics, by cohort: files/metrics-by-cohort.csv
Trailing twelve months to October 31, 2026, unaudited, cash basis. The full model is in the legal and finance list below.
| TTM | October | |
|---|---|---|
| Revenue | $318k | $41.2k |
| Gross margin | 81% | 83% |
| Operating expenses | $1,068k | $92.4k |
| Net burn | $810k | $58.2k |
| Cash at October 31 | $1,104k | |
Runway at today's burn is 19 months (1,104 / 58.2). With the seed and the three planned hires, net burn rises to about $115k a month and runway is 31 months: (1,104 + 2,500) / 115.
Fully diluted, before and after the seed at the cap. The seed column assumes the full $2.5M converts at the $16M post-money cap. The full cap table export is in the legal list.
| Holder | Today | After seed |
|---|---|---|
| Ines Varga, co-founder | 38.0% | 32.1% |
| Tobi Okafor, co-founder | 38.0% | 32.1% |
| Option pool (granted and unallocated) | 12.0% | 10.1% |
| Pre-seed SAFEs, converted | 12.0% | 10.1% |
| Seed investors | 0% | 15.6% |
| Total | 100% | 100% |
Pre-seed: $450k on post-money SAFEs in 2025 from six angels. No debt, no side letters, no pro rata rights beyond the standard letter.
Each document is a PDF uploaded next to this page and opens behind the same email gate. Marked documents are shared after a signed NDA; ask on this section and we send them the same day.
files/certificate-of-incorporation.pdfPDFfiles/bylaws-and-consents.pdfPDFfiles/founder-spas.pdfPDFfiles/ip-assignments.pdfPDFfiles/pre-seed-safes.pdfPDFfiles/cap-table.csvCSVfiles/financial-model.pdfPDFfiles/distributor-agreements.pdfAfter NDAfiles/customer-contracts.pdfAfter NDARan operations for a 14-location bike retailer for six years. Wrote the first reorder spreadsheet that became Brindlewick.
Eight years building inventory systems for a parts distributor. Built the three distributor integrations.
Closed 43% of the shops added since she joined.
All full time. Two open roles funded by this round: integrations engineer, second account executive.
Chains already buy enterprise retail software. Independents are 70% of bike shops in our three launch states, and none of the tools they use know what is in stock.
The distributor integrations. Each one took us four to six months and a signed agreement. Two point-of-sale vendors already integrate with us instead of building it.
The largest customer is 2.1% of MRR. The top ten together are 13%.
Nine of the twelve churned shops in the last six months closed or were sold. Three left for a competitor; two of those came back.
Nothing in the plan. Below $2M we would hire one engineer instead of two and the integrations roadmap slips two quarters.