Dabbl Invest

It looks like it is finished. CEO got into new firm.

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Still on the go as far as I can see, however following their availability issues dabbl trading is commission free on instant trades for the rest of the year.

Cue Apprentice opening credits

Conservative Cotswold Tweed on the outside and fun pop art on the inside…

LOL.

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The fact that they came within months of a compulsory strike-off on Companies House last year was a red flag for me.

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I saw this on Adam’s Twitter wall.

For what it’s worth, from what I heard they are migrating suppliers, from VIBHS Financial Ltd to someone else ( unsure who ) at the end of January 2020.

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There’s quite an interesting ( and lengthy ) explanation on this topic in the Dabbl discussion on Seedrs. Probably fair to say I don’t see Dabbl ever featuring in this topic : What’s your ten bagger?

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Do you know if they are closing shop or just changing partner?

Changing. I won’t cut / paste across forums but take a look on Seedrs for the full details. Maybe they’ll get round to finally sending out the July 2018 EIS form now…

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All a bit strange . License suspended on 15 October last year

https://register.fca.org.uk/ShPo_firmdetailsPage?id=001b000003aasDwAAI

Sort of ties in with this

Saying that they recently had a great review from Finder.com that was also Fact Checked :wink:

Can’t really see this one being a 10 bagger as someone indicated earlier

Seedrs currently have a 10m plus indicative valuation though so maybe they know what the current status is and there is positive news on the way

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Mark Ackred has posted on the seedrs discussion forum today with an update. Still not holding my breath for anything other than an eventual investment write off though.

‘Whats more the FCA regulated platform that enabled it to take £841k off punters in 2018, is now being scrutinised for the veracity of its claims. Seedrs state on their platform that Dabbl raised £841k. Mark Ackred has told us that they in fact raised £294k. Both cannot be right’

‘Back to Dabbl. We had a long chat with Mark Ackred. The company is in a holding pattern, waiting to change FCA licensor and raise new capital. Mark is endeavoring to cancel a bankruptcy that was passed against him in January. For a lawyer he is not very good at the law. He reckons that the CAC for Dabbl is manageable but that is based on only 1000 subscribers. Dont expect a landing slot anytime soon… It is all fairly typical of the messes created when not very good businessmen get their hands on funds for a not very good idea.’

The FCA should get their hands on him asap.

All of you should also check the app store reviews - Plenty of unhappy clients.

As of today 17th Sep 2020 they are still claiming ‘Dabbl Group Limited is an appointed representative of VIBHS Financial Ltd, which is authorised and regulated by the Financial Conduct Authority, under the reference number 613381.© 2020 Dabbl Group Limited. Dabbl ® is the trading name of Dabbl Group Limited (Company no. 09145174) a company registered in England and Wales.’

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Wow, to think it was the delay in lauching the Dabbl app that brought me to Freetrade!

Dodged a bullet there! :skull_and_crossbones:

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