-
Series B closed - £35m in the bank
-
<5% of crowdfunders chose to take part in secondary market (selling shares I think?)
-
Expansion in Australia, Sweden and Canada on the cards
-
Tonnes of recruitment happening (70 roles on the board)
-
European expansion coming soon
-
EU stock trading coming before European expansion
-
Infrastructure in place to be able to eventually offer us EVERYTHING stock wise - want to get it right rather than get it done quickly, same as the invest platform
Q&A
-
UK fractionals - will still happen but European stocks is the focus
-
Customer deposits - didn’t reveal anything of note, very political answer other than graph looks ‘up and to the right’ with regards to users
-
£25k limit - want to increase it, but want to do it right. Set at £25k because of compliance and best execution strategy, didn’t answer if or when it would be increased.
-
Proxy voting - will support this in the future, again spoke about getting it right.
-
Merchandise - crowdfunding rewards in production, sorry that it took so long
-
Offices - no plans to open any other offices in the UK. Played with the idea but want to focus on international first
-
Ian departing - investors need not worry, hiring for senior roles across the board. Good leadership in engineering with more coming through the ranks - people on team from places like Monzo, Spotify etc
-
Revenues/Profitability - will have to wait until next crowdfunding to see more details. Crushed anticipated numbers Q1 21 vs Q1 20. <£1m cash burn per month. 3 years of cash in the bank.
-
Cryptocurrency - been working on it, no announcements yet, active planning ongoing, did not mention development
-
Over 700,000 customers.
-
A ‘nice’ feature is just around the corner, but no more said.
-
Different account types - didn’t specify which, but they want to bring us different types.
-
VC’s - world class venture capitalists on board, Left Lane were the right choice.
-
Diversity/Equality - diverse in nationalities, didn’t really mention women, POC etc but did say amazing work is being done on inclusion
-
Nationality declaration - very productive meeting today to discuss making it happen. Believe there is a solution if they can get manpower away from EU stocks
-
Jersey / Channel Islands - don’t know if and when will be available in these areas. Regulatory issues currently prevent this. Will be made available eventually
-
One more thing………….
…………
…………
Crowdfunding coming September 2021
50% will have to come from European investors.
No timelines given for anything to do with rollout in Europe/world, features etc other than ‘things are coming’ which is a shame
Lots of new info but I don’t think I learnt much I didn’t already know, but good to see the team looking forward to the future.