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Mystery box Heat raises $5 million from Antler and LVMH Luxury Ventures

Seed round investment will allow Heat’s Gen Z founders to recruit new luxury partners, build out retail and gamify the website


Launched in 2019 by Gen Z founders Joe Wilkinson and Mario Maher, both in their mid-20s, Heat allows luxury brands to monetise unsold inventory via desirable and buzzy drops of surprise merchandise.

Heat needed a financial model to show to the investors the output of the Business Plan, the valuation for the fundraising rounds and the investment needed to deliver the plan.

Solution and approach

At CFO ventures, we take an interactive approach with our clients to help them build a solid financial foundation for their business plan. We identify key business drivers and milestones that need to be achieved for the company to reach its desired results. This process allows us to create a tailored financial plan that meets the specific needs of each client.

Our approach is based on building reliable projections that would serve as a basis for the delivery of the plan and as guidance for the investors to understand the business opportunity.

Together with the founders, we worked on the key elements of the financial plan, including defying the addressable market, the key milestones and actions to deliver the plan, the unit economics of the business, the investment needed and valuation range.


Heat secured $5 million in seed funding led by industry heavyweights including venture capitalist firm Antler and LVMH Luxury Ventures.

Link to press release