Coconut - business banking and accountancy is raising on Crowdcube

Investing and Markets 📈 Startups Crowdfunding 🔨
46

In their latest investor email they did mention another fundraise in May/June time via CC.

Did anyone tune into the webinar they did the other week?

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I’ve posted on the CC board and have emailed them asking for this video…fingers crossed.

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Annoying the email was light on info and then the webinar isn’t freely available…

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Anyone see yeaterday’s recent webinar. Thoughts?

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I watched it earlier, all seems quite promising although slightly disappointed they don’t expect revenue to grow this year.

During the early years for startups there seems to be a lot more focus on growing revenue YoY than increasing profit margins, although they do expect it to increase next year.

Tempted to have another nibble

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Can anyone give a quick summary? I didn’t manage to catch it

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It was actually pretty brief only 7 mins

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53

Oh nice, thanks for the link will give it a watch.

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It’s a fine balance. Many start-ups want to grow, grow, grow but need cash flow to fuel that. Getting profitable early definitely helps to take that pressure off but scale is key.

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Targeting sole traders on a subscription model in a very competitive area of the market is a tough challenge. But I wish them luck…

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Yes its a interesting take on their business model versus what is usually expected. Still on the fence whether to put some more in

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Personally I think they need to move aggressively into accounting services to do well. Their main target market (self-employed, sole traders) doesn’t need complex accounting advice, just book-keeping, and already pays a lot more than £15 a month for that. They can and should replace accountants for those clients.

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58

Coconut are being recommended by Santander as their Asto business offering is closing.

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59

Coconut are raising a convertible round in Crowdcube.

Any thoughts?

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60

I’m not investing this time, see no reason to invest in an unpriced round, so going to wait and see how they do in the years to come, but I’m glad they’ve moved away from banking into accountancy services.

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Looks the premise of their latest crowdfunding (and strategy as a whole) could be in trouble: Join and Start Investing Today - Crowdcube

TL;DR MTD ITSA has been delayed by another 2 years (again), and minimum requirements possibly changing also

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