Trouva LON:MADE

trouva.com →

-85%

est. 2Y upside i

E-CommerceSeries B

Rank

#3638

Sector

E-commerce & Marketplaces

Est. Liquidity

~2Y

Data Quality

Data: Low

Given Trouva's operational struggles, massive preference overhang ($48.8M vs estimated $20M entry value), and lack of revenue growth, common equity is likely to be worthless in most exit scenarios.

Last updated: July 21, 2026

Bull (15%)+1%

If the company achieves a remarkable turnaround and is acquired at 10x revenue (exit value $73M), common stock sees a small residual of $24.2M after $48.8M preferred, yielding 21% before dilution; after 20pp dilution, net 1% upside.

Base (60%)-100%

Base case exit multiple of 2.5x gives exit value $18.3M, well below $48.8M total funding; common stock recovers $0, a -100% loss.

Bear (25%)-100%

Bear case exit multiple of 0.5x yields exit value $3.7M; preference stack consumes everything, common gets nothing, -100%.

Est. time to liquidity~2.0 years

Preference Stack Risk

severe

Funding Intensity

24400%

Total funding of $48.8M dwarfs estimated enterprise value of $20M; preferred stockholders have a 1x liquidation preference, leaving no value for common in most exits.

Dilution Risk

high

The company likely needs additional capital within 24 months, which would further dilute common equity, but given the preference overhang, additional dilution may not materially worsen common outcomes.

Secondary Liquidity

none

No secondary market exists; the company is private and has been acquired multiple times, with no public trading.

Questions to Ask at the Interview

Strategic questions based on Trouva LON:MADE's data — designed to show you've done your homework.

  • 1

    “How does Trouva plan to differentiate from Etsy and Amazon for boutique sellers and consumers?”

  • 2

    “What is the current revenue run-rate and what initiatives are in place to achieve growth?”

  • 3

    “Given the multiple acquisitions, what is the long-term ownership structure and exit strategy for equity holders?”

Community

Valuation Sentiment

Our model estimates -85% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.