Chip's Series B: crowdfunding round due diligence

Looks like the investor link is uncapped with public capped:

ā€œYou can invest an uncapped amount for the first 72 hours after you receive your private link. Then from Monday 16 September, a Ā£1,200 investment cap will apply if there is any allocation remaining.ā€

Thereā€™s Dozens ā€¦ and Wealthify ads all over the tube. Whatā€™s going on

Thatā€™s a waste considering theyā€™re switching to VISA.

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Showing as only 3 days left .

Chipā€™s raise is in private mode for existing investors until Monday, which is why I guess itā€™s showing as 3 days.

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They are at 1.3m already

In less than an hour, by previous investors only.

Ā£1.6 mil now. They at Ā£37m pre are attracting that whole ā€˜please be the next Revolutā€™ vibe.

Raised Ā£2M+ now

Not yet. Uncapped allocation for existing investors ends at noon today, it will then be opened up to the Chipmunk community - ie active users who signed up for testing and other activities. Ā£2.1m raised so far.

ā€œAs existing shareholders, you still have the opportunity to invest an uncapped amount until 4:00 PM today. Weā€™ll be opening up the crowdfund to our wider community of ChipMunks and savers later this week (if there is any allocation from our Series B remaining). This cap will give our entire community a fair chance to invest in Chip.ā€

I donā€™t remember how someone would qualify as a ā€œChipmunkā€.

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Currently via investing Ā£600+. Iā€™m not an investor and donā€™t intend to invest but itā€™s pretty poor imho you canā€™t even join their online communities if you invest less than Ā£300.

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Anyone can join their forum, but only investors of Ā£300+ can request access to their hidden ā€œinvestorsā€ sub-forum, as far as I am aware.

Thatā€™s whatā€™s poor. Anyone who invests should be allowed; such an arbitrary threshold is exclusionary for little good reason I bet.

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Got clarification that any investor of any amount can get access to the investor forums.

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Chip is now open for all.


Looks like they are also adding bonds. Attached is the screenshot from demo link of Chipx.

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I expect this next round will be another Crowdcube-busting-fintech-market-overload frenzy Ć  la Moneybox in July 2020.

Excited to see Chipā€™s financials when they come out today.

Their burn is VERY high (team of 70, only started making revenue this summer, negative gross margins by self-funding 0.5% of their 1% interest payout)ā€¦

But growth is v impressive. Low CAC. Classic fintech. Iā€™ll probs invest. :joy:

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How do they plan on making money? Couldnā€™t find anything on that.

They charge Ā£1 if you auto-save Ā£100 within 30 days

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