They need to convert the users who are signing up for the instant access account into paid subscribers to succeed.
Revenues of 287k for December need to be continued throughout this year.
Good to see they have increased the instant savings rate again to keep top of the tables, still feel a lot of people donāt fully understand that Chip isnāt a bank and this is having a negative impact on the trust pilot reviews mentioned above.
Absolutely no chance of Chip going bust. Why on earth would you say that,I presume you have not invested in them and wish you had? Out of Chip/Plum/Emma trust me Chip are doing the best,just be patient and we will see. The founders of Chip are fantastic and know exactly what they are doing!
If referring to me then I have invested in Chip and hope they do well. But their turnover figures are tiny compared to valuation and need to monetize a lot of these savers not paying fees.
They have increased the prizes so one hopes they are doing well but the point remains what valuation they will next raise at and will the convertible convert atā¦
First off, weāre adding thousands of new prizes to the draw.
There are 1,301 prizes on offer in the current April draw, with a total prize pool of Ā£35,000.
This will be more than doubled for May, with 2,651 prizes in the draw, and a total prize pool of Ā£52,500.
Here is the breakdown of these prizes:
Itās public now. Wrote about it in the Crowdfunding thread and the successful exit one.
Iām half expecting this one to emerge as a trap, to expose how bad the crowdfunding platforms are. Like in a couple of weeks theyāll go āta dah! Look what Crowdcube let us get away with! Itās all a scam!) That said, the 19-year-old has already tried to defend himself, so probably not.
It always made me laugh (cry) when the CrowCube terms says that they do not complete due diligence on the contents of the pitch decksā¦.
You have invested in more companies than anyone,almost as many as me. I was glad you took my advice and reduced/cancelled your last investment in The Cheeky Panda you saved yourself a lot of money??
Unsure how many you have invested in, but Iāve invested in over 250 companies. Rarely invest directly now, moreso invest via EIS funds with investment managers, and the track record/chances of positive exits are much better, IMO.
I do not recall your advice; sorry if I missed this message. I have a large-ish holding in Cheeky Panda and am happy with this investment. Do you not think they will do well, and why not if so?
They have no USP and in my opinion have a limited customer base. Also you can buy unbleached toilet paper for half the price on Aliexpress or Alibaba Time will tell but the only thing that has stopped them folding is mug little investors like myself(well I havenāt invested. I messaged you over LinkedIn and you pulled your last few investment 
Conductive charging works like a charger pad for smartphones. Instead of plugging in a charger, these special electric vehicles have a pad or plate on the road, and when the vehicle is on top of it, the pad charges the vehicle wirelessly.
The inductive charging system uses special equipment buried underneath the road that sends electricity to a coil in the electric vehicle. The coil in the vehicle then uses that electricity to charge the battery.
Small Robot Company about to go 
Lead investors pulled out of further funding. They canāt make Mayās payroll, staff are currently working on goodwill.
They are trying to get funding from other routes (Government, follow on investors)/get acquired, but that is looking highly unlikely given the climate weāre in (at a good valuation that is)
This is really sad. Had high hopes for this one
Vurger Company. Pre-pack sell to Vurger Co Holdings, which was incorporated a month ago, and continued trading, but cutting out all minor shareholders. I donāt really care, but canāt understand how this is allowed: set up a company, sell equity, sell company to self/company with slightly different name, celebrate the free money from the shareholders you just cut out.
They are looking to raise Ā£1.5 million otherwise itās insolvency,octopus ventures screwed them over at the final hurdle,they lost new funding by 1 vote!
Couldnāt agree more. These pre-packs have the potential to wipe out every single investment we have all made and adds even more risk to these āinvestmentsā. Disgraceful. Rinse and Repeat. Shutter OldCo, cleanse cap table, go again next day business as usual. Beyond pissed off with thisā¦
Will anyone pledge? It feels so so wrong for them to go under for such a low amount - but then it shows again how small the UK is becoming.
Iāve been here before with another business and then lost with that still in the end!
Iām alarmed that they have let it get this far down the path with a lack of cash runway. Raising capital is very difficult now, especially pre-revenue. It is prudent to get funding much earlier, which allows a better valuation to be commanded.
Relying on Octopus Ventures (who I know well) clearly was not wise. Also, I feel there has not been complete transparency with the updates.
Did he mention what valuation this desperate raise would be at?
I feel sad about Small Robot.
āKeep business open long enough to confirm investment, grant funding or acquisitionā Small Robot Company
I am also sad about SRC.
I have a particular soft spot for farm robots and had actually made good progress building my own during lockdown before hearing of SRC (based on ArduRover for the robot + MobileNet running on a Jetson Nano for detecting weeds using a camera). This included spending weeks photographing hundreds of dockweeds! I shelved my own project to invest in SRC because I believed in the team despite not agreeing entirely with their direction. I even applied for their Head of ML job that Tom W got.
Itās a good lesson about not becoming emotionally attached to investments. I am trying not to get angry with management to let it get to this stageā¦ at least before I watch the webinar. It seems they bet the house on Octopus Ventuers coming up with the cash. There was a lot of talk about extending the runway (incl. layoffs) in previous update and I came away with the impression there was at least a year based on available funding.
I havenāt decided whether to pledge yet.
I think their ML assets at least may have value to the likes of John Deere/Blue River or Bilberry.io etc.
Wher did you see this?