Crowdcube taking funds too early


#1

Hi,

It appears Crowdcube will be taking the funds from the raise on the 30th of May instead of the time frames given at the time the Crowdcube fundraise was in progress.

The Crowdcube fundraise said that funds would be taken after the round ends in 30 days (this would be mid June). It appears though that Freetrade is doing this sooner than expected.

I’m not sure if I speak for others but I made my investment based on the expected cash flows I would have around mid June. I don’t appreciate the terms being changed this way.

Also Im a bit surprised that Crowdcube is allowing this change considering it is ordinary investors who are participants in this round who wouldn’t always have cash lying around for date shifts.

Could the collection dates please stay the same as when you opened the round? I would also point out that Monzo had their round filled within minutes but they still waited the full 30 days before starting to collect funds.

If the terms were going to be this way the least that could have been done was to let investors know at the time the Crowdcube fundraiser was made that you would collect the funds as soon as you closed the round, rather than letting the 30 days period pass, before the 7 day cooling off period begins.


(Tommy Lowe) #2

5 posts were merged into an existing topic: CrowdCube Fundraise


(Tommy Lowe) #3