
Horse360 brings school operations, horse management, payments and customer experience into one connected platform—starting with riding schools and equestrian clubs.
A €100bn+ European industry, ~13,000 core organisations, and a sector that is moving from cash to traceable payments.
Raising €100,000 to complete commercial validation and accelerate early go-to-market.
Complex physical operations are still coordinated through disconnected, manual processes.
Every riding school coordinates people with different needs, different information and different tools. Today that coordination happens between them, not inside a system.
Horse360 connects every rider, horse, class, payment and operational workflow in one system.
Interface views from the current Horse360 build. Click any view to enlarge.
Horse360 is not another booking tool. It is the operational layer connecting the entire organisation.

Equestrian management software already exists. That validates demand. Our opportunity is not to be first, but to be the most complete operating platform for riding schools, built for the Spanish market first.
| Horse360 | Booking-first tools | Stable/horse-record tools | French-market incumbents | |
|---|---|---|---|---|
| School management (groups, levels, progression) | partial | |||
| Stable operations and horse workload | partial | partial | ||
| Families, guardians and billing relationships | partial | partial | ||
| Integrated invoicing, collections and online payment | partial | partial | partial | |
| Built for Spanish operations and language | partial | partial | ||
| Multi-role (owners, admin, teachers, stable staff, families) | partial | partial | partial |
Examples of existing providers include Kavalog, Equimondo, Anolla, Equicty and EC Pro. Comparison based on publicly available product information and our own assessment.
School, stable, billing and families connected, not a booking tool with add-ons.
Local language, local invoicing and payment workflows, founder-led sales with sector access.
Standardised implementation and data migration so a club is operational in days, not months.
Horse360 starts in Spain to validate and scales into Europe's two largest equestrian markets, France and Germany. The addressable core is about 13,100 commercial equestrian organisations, or 20,300 including Germany's riding clubs.
Annual economic impact of the horse sector in Europe
European Horse Network
Riding schools, clubs and equestrian centres in our five core markets
Horse360 analysis, 2026
Economic activity of the equestrian sector in Spain (direct + indirect), 722,158 horses
MAPA, II Estudio de Impacto, 2022
Value added by the US equine industry, 6.6M horses
American Horse Council, 2023
| Country | Organisations | Riders | Horses | Role in our plan |
|---|---|---|---|---|
| Spain | 827 federated clubs (2024); 1,500–2,500 centres incl. livery yards Estimate | 61,294 licences (2024) | 722,158 | Validation market, Years 1–3 |
| France | 5,444 clubs teaching riding (2024); ~9,500 equestrian establishments | 560,052 riders in those clubs | — | Scale market, Years 3–5 |
| Germany | ~3,350 commercial equestrian centres + ~7,200 riding clubs | ~663,000 club members | — | Expansion, Years 5+ |
| United Kingdom | ~1,497 licensed riding schools (2023) | 1.82M regular riders | ~850,000 | Expansion, Years 5+ |
| Sweden | ~800 clubs | ~140,000 members | — | Expansion, Years 5+ |
| Netherlands | ~1,500 local KNHS associations | — | — | Future |
| Portugal | To be validated | — | — | Proximity market, Years 2–5 |
| United States | — | — | 6.6M | Long-term option |
Sources: CSD 2024, RFHE 2025, MAPA 2022, IFCE 2025, FN 2025, British Equestrian 2023, BETA 2023, SvRF 2026, KNHS 2026, American Horse Council 2023.
Organisations by country
Italy, Belgium, Netherlands, Ireland, Portugal, Austria and Switzerland are excluded and raise the ceiling.
Sources: CSD 2024, RFHE 2025, MAPA 2022, IFCE 2025, FN 2025, British Equestrian 2023, BETA 2023, SvRF 2026, KNHS 2026, American Horse Council 2023.
France has about 9x Spain's licensed riders, yet Spain's equestrian sector generates over €7bn a year. Ideal to validate, not the final market.
5,444 French clubs with riding schools and about 10,500 German clubs and centres.
UK riding schools are closing, yet most report waiting lists of 50+ clients. Operational efficiency is the bottleneck Horse360 removes.
Sources: IFCE 2025, CSD 2024, MAPA 2022, FN 2025, British Equestrian 2023.
Each funding scenario is expressed as a share of a defined universe, so ambition can be judged against the market.
By funding scenario
| Scenario | Year-5 organisations | Implied share |
|---|---|---|
| Lean | 200 | Spain ≈10% of ~2,000 centres |
| Scale-Up | 704 | Spain ≈16% · France ≈6% |
| International | 1,353 | Spain ≈17% · France ≈11% · Germany + UK commercial centres ≈7% |
Portugal: no share shown. To be validated
Win 5–10% of Spanish centres (100–200) to validate product, pricing and payment conversion.
3–5% of France (160–270 clubs) is worth as much as 10–15% of Spain.
The strategic base case of 4,500 organisations is about one in five of the extended core: vertical-leader level.
Reference points: Clubessential + foreUP serve about 3,000 golf courses and clubs; Lightspeed about 1,000 golf courses; Playtomic reported about 95% share in Finland after acquiring its local rival.
Sources: Horse360 investor financial model v5 (Lean restated to Spain only); market denominators as above; company disclosures 2019–2025.
Facility-based sports with recurring customers and payments at the front desk have already been digitised. The winners combine club software, integrated payments and an end-user app: Horse360's design.
€250M valuation (Mar 2025) · 6,000 clubs in 63 countries · €240M bookings in 2024
Club software + player app + payments. Started in Spain with about 600 clubs that booked by phone and collected at reception.
Acquired by Vista for $1.9bn (2019); later acquired ClassPass, valued at $1bn
Management software becomes a marketplace once it owns the calendar and the payment.
Acquired in 2019 · about 1,000 courses · golf software and payments revenue nearly doubled in a year
A niche vertical is valuable when payments are monetised.
Battery Ventures-backed · about 3,000 courses and clubs
Club verticals consolidate: there are natural strategic and private-equity buyers.
Sources: Reuters/Global Banking & Finance 2025, The Motley Fool 2018, Fitt Insider 2021, The Logic 2021, Golf Inc 2021, SportBusiness 2022, RFHE 2026.
Vertical axis: Bookings only → Full school + stable + payments + suppliers
No pan-European player combines school, stable, payments and a supplier marketplace. In Spain no dominant specialist appears in software directories. France's local incumbents prove clubs pay for software.
Source: Horse360 analysis of public websites and software directories, 2026.
Cash is a risk to the payments layer, not to the business. Subscription is about two-thirds of Year-5 revenue, and regulation and payment habits are moving towards traceable payments.
Euro area fell from 59% to 52% in two years.
Source: ECB SPACE 2024.
Bizum users in Spain (2025), €67.8bn processed (+53%). In-store NFC payments launch in 2026. Bizum is traceable.
Bizum 2025
Shadow economy as % of GDP, Spain vs France (2022). The equestrian gap with France is about sector design, not national culture.
Universidad de Murcia / CES, 2022
Spain's cash payment limit whenever a business is involved.
Law 11/2021
To be validated We are measuring the share of cash in Spanish and French clubs during the pilot.
Sources: Assemblée nationale (5.5% VAT), asesorexcelente.com (VAT on horse sales), IFCE 2025.
€1,000 cash limit with professionals (Spain)
Bizum in-store NFC payments
VeriFactu mandatory for companies: tamper-proof, traceable invoicing software
VeriFactu for the self-employed
EU-wide €10,000 cash cap; ID checks from €3,000 (Regulation 2024/1624)
RFHE digital licensing platform
Sources: Law 11/2021, Bizum 2025, AEAT / Maldita 2025, Regulation (EU) 2024/1624, RFHE 2026.
| Flow | Who pays | Cash propensityHypothesis | Horse360 tactic |
|---|---|---|---|
| Camps & events | Families | Low | Online checkout (live today) |
| Licences & competitions | Riders | Very low | Federation integration |
| Monthly school fees | Families | Medium-low | SEPA direct debit, Bizum, automatic reminders and retries |
| Livery (pupilaje) | Horse owners | Medium-high | Direct-debit fee + all extras on one monthly invoice |
| Farrier, vet, feed | Horse owners | High | Supplier marketplace for invoicing professionals; logged even if paid outside |
| Horse sales | Private & professional | Very high | Out of initial scope |
| Payment volume | Payments revenue (1%) | Total revenue | Change |
|---|---|---|---|
| €16.2M (model) | €162k | €479k | — |
| €8.1M (−50%) | €81k | €398k | −17% |
| €0 (no payments) | €0 | €317k | −34% |
Illustrative school: 100 riders × €150/month × 10 months + 20 livery horses × €450/month ≈ €258k revenue a year. The model's ~€81k payment volume per organisation is about 31% of that.
Sources: ECB SPACE 2024, Bizum 2025, Universidad de Murcia / CES 2022, Law 11/2021, AEAT VeriFactu 2025, EU Regulation 2024/1624, Assemblée nationale; Horse360 model v5 (Lean restated).
Initial pricing hypothesis — subject to pilot validation
The long-term opportunity is not only to digitise clubs, but to become the infrastructure through which the equestrian ecosystem operates.
International expansion is a staged strategy that follows validation, not an immediate step.
Horse360 is a subscription business with a transactional layer on top. The model is built bottom-up from organisations acquired, blended subscription pricing, payment volume processed through the platform and a small premium services line. Below is the fifth-year outcome of each funded scenario. The Lean scenario covers Spain only.
Complete the production platform, run the first pilots and prove repeatable demand in Spain only, founder-led, with a minimal team.
Geography at Year 5: Spain 200
≈10% of Spanish centres
Total recognised revenue in the twelfth-to-sixtieth month
Year-end monthly recurring revenue annualised
Operating result after all internal and platform costs
Payment volume flowing through the platform
Months of operation funded before follow-on capital
Point at which monthly EBITDA turns positive
Additional capital modelled to bridge to self-funding
Payments are an expansion layer on top of subscriptions. We show the Lean case at different net take rates so investors can judge the subscription business on its own.
| Net take rate | Revenue | EBITDA | EBITDA margin |
|---|---|---|---|
| 1.0% (model) | €670k | €269k | 40% |
| 0.5% | €557k | €156k | 28% |
| 0% | €444k | €43k | 10% |
Illustrative sensitivity holding all other revenue and costs constant. Net take rate is after processor costs. The pilot phase will validate how much clubs and families accept a payment service fee.
Paying organisations at each year end
Annual recognised revenue against operating result
Year-end recurring revenue, annualised
Subscription, payments and premium services
Scenario selection will be agreed with the incoming investor. The Lean scenario is the current reference case.
Scale-Up and International figures are taken from the Horse360 investor financial model v5 (Sep 2026 – Aug 2031). The Lean scenario has been restated to Spain only (200 organisations) using the model's unit economics. Forward-looking projections, not guaranteed outcomes.
The same product and the same unit economics, funded at three different levels. More capital buys earlier hiring, faster acquisition and a longer runway — not a different business.
Lean proves the model in Spain with the least capital, but reaches break-even later (month 41) and needs about €150k of follow-on: about €250k in total. Scale-Up deploys a similar total from day one, adds Portugal and France, and reaches 704 organisations. The reference round remains €100k, with deployment beyond it gated on the metrics below.
Scale-Up and International figures are taken from the Horse360 investor financial model v5 (Sep 2026 – Aug 2031). The Lean scenario has been restated to Spain only (200 organisations) using the model's unit economics. Forward-looking projections, not guaranteed outcomes.
Modelled unit economics at Year 3. These are the assumptions the pilot phase is designed to validate — they are inputs to the model, not results already achieved in the market.
Monthly, across Starter, Professional and Business plans
Modelled organisation churn, improving with maturity
Sales and marketing cost per organisation won
CAC plus onboarding and implementation
Months to recover fully loaded acquisition cost
Model assumption. Highly sensitive to churn — see sensitivity below.
After payment processing and platform delivery costs
Net rate on processed volume, after processor costs
Under stressed assumptions — higher churn and no payment revenue — the subscription business alone still clears the 3x LTV/CAC gate.
| Annual churn | Avg. customer lifetime | LTV / CAC |
|---|---|---|
| 10% (model) | 10 years | ~17x |
| 20% | 5 years | ~9x |
| 30% | 3.3 years | ~6x |
Based on €149 blended ARPA, 92% gross margin and €950 fully loaded acquisition cost. Excludes payment revenue. Even at three times the modelled churn, LTV/CAC remains above the 3x investment gate.
Each gate is a measurable condition. Capital deployment beyond the initial phase is conditioned on real, customer-verified performance, not on modelled outputs.
Scale-Up and International figures are taken from the Horse360 investor financial model v5 (Sep 2026 – Aug 2031). The Lean scenario has been restated to Spain only (200 organisations) using the model's unit economics. Forward-looking projections, not guaranteed outcomes.
Horse360 is raising growth capital to complete commercial validation and build a repeatable acquisition engine. Three funded scenarios are modelled; the reference case is the lean round. Structure, instrument and terms are discussed directly with interested investors and formalised in definitive documentation.
Lean follow-on modelled: ~€150k
No terms, structure or ownership arrangement is offered or implied on this page. Any investment would be subject to due diligence, definitive agreements and applicable law.
Allocation of the reference round. The capital is designed to convert a functional product into a commercially validated, production-hardened SaaS business.
Runway and follow-on requirement vary by scenario — see the financial case above.
Scale-Up and International figures are taken from the Horse360 investor financial model v5 (Sep 2026 – Aug 2031). The Lean scenario has been restated to Spain only (200 organisations) using the model's unit economics. Forward-looking projections, not guaranteed outcomes.
Beyond the five-year model, Horse360's addressable outcome is defined by how much of the European equestrian ecosystem operates on the platform. Three long-term scenarios, expressed at Year 10.
≈19% of the ~13,100 core commercial organisations
≈22% of the ~20,300 extended core
≈25% of an extended Europe of ~30,000 organisations
For reference, golf's leading club-software groups serve 1,000–3,000 courses each.
At scale, the value is not the management software. It is the payment rail, the data layer and the network of clubs, riders, horses and professionals that run on it.
Year 10 scenarios are strategic illustrations of scale, not forecasts. They are not part of the five-year funded plan.
Intended milestones, not guaranteed outcomes.
Product, engineering and design are led by Sobit Labs, a Madrid-based technology consultancy and product studio that has designed and built the current Horse360 platform.
Direct access to an operating equestrian environment, where the platform's workflows were defined and where the first pilot is deployed.
A dedicated partner responsible for financing and commercial development, focused on founder-led sales and sector relationships in Spain.
Full founder profiles and track records are shared with interested investors.
Contact the foundersAdvisors, sector partners and technology partners will be listed once confirmed.
We are speaking with investors and strategic partners who can contribute capital, sector access, commercial expertise or technology experience.