🚀 Crowdfunding graveyard ⚰️

Yes thanks they must have got an extension. Can’t wait to see how bad they are :+1:

No extension. @SlimShadey is right. The normal requirement is by 9 months after the end of the accounting period that is being reported. And we can see from the screenshot that the normal accounting period for Revolut ends 31 December.

So 9 months from Dec 21 is September 22. Am I missing something?

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Oh gosh. You are right (excellent spot!) about the 9 months date (except another 10 days or so to that).

Having said that companies house says this:

which means they are not delayed as the due date is 31 December 2022. It did file its confirmation statement on time. I have no idea why my original 9 month statement is not applicable.

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Novus Bank is no more!!

Any investors in Plum and insights into them?

Good product with a user friendly interface.

They are struggling to monetize their users. Less than £5m of annual revenues.

Not a winner, unless you invested few years ago at a valuation of £10m.

What’s the approx multiple for Revolut crowdfund investors? I was a very early customer and wanted to invest but didn’t have much money back then. How much did I lose out on? :sweat_smile::grimacing:

Run a mile,going no where!! Burning through money like there is no tomorrow

You might be disappointed in that case.

Looks like Dabbl close to the broker graveyard. Website down and owner now disqualified from being a director.

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Thanks, but have you invested?
Cash burn isn’t always a bad thing (usually but not always) so I am weighing up all information. Nutmeg for example delivered a great return.
Do you have any knowledge on the company as an investor or only what I can see?

Very helpful, thank you. Their pitch deck (as you would expect) shows that users are transitioning to being monetized and doing quite in this aspect.
They appear to be faring better than Chip; do you have an opinion?

Chip is at £1m annual revenues (more or less)

I do not see how they can raise any money in this tough environment.

Consider that Pension Bee (the only similar listed fintech player in the UK), trade at around 10x revenues and Chip was valued few months ago £125m (>100x revenues…)…

Sadly the end game is approaching for a lot of consumer fintech companies (and yes Nutmeg won the jackpot with JP Morgan acquisition last year)

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I don’t believe that x1.5 is a great return!

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See Sims’ comment. Also, given they were loss-making, relatively speaking it is a great return and wasn’t expecting this. Each to their own though.

EVOIS have now acquired Andersen EV.

And not a single word from Crowdcube to let investors know about their investments.

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Any news on the terms? I liked the Anderson pitch but didn’t pull the trigger on an investment, want to know if/how much I should kick myself.

Pure speculation: EVIOS is a small (loss-making) company and the language used in the press release seems to indicate that this is more of rescue rather than acquisition (“Production of Andersen units will recommence immediately” indicates that they had stopped production due to issues financing) so I’d guess the value of the acquisition will be made up of earn-outs and shares in EVIOS (much like Secret Cinema’s ostensible $100m acquisition which is actually mostly just earn-outs and will return very little (if anything) to the crowd).

Alternatively, whoever wrote this press release didn’t realise that they weren’t writing about a rescue.

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