Freetrade's crowdfunding round 📈

Will those of us who currently just missed out on EIS be bumped into it by the duplicates being removed or just the people who invest when it reopens? If that makes any sense :sweat_smile:

4 Likes

If we invested after the £2m cap was reached and missed out on EIS, will our investments automatically count for EIS when duplicates are cancelled? Or should we invest again to get EIS and cancel the original investment?

Can there be plenty of warning before it goes lives again

We’re checking this scenario with Crowdcube, and update you as soon as we hear back. Can you DM @Freetrade_Team1 and I your Crowdcube email address?

I think you would have to cancel the investments yourself. Once the system is up and running I imagine CC will reach out to anyone with duplicate investments to check.

1 Like
1 Like

I don’t think anyone can put the blame on FT for CC servers crashing. They’ve given us all the opportunity to take part in the crowd funding, but with it being so popular, these things will happen. As I understand, those that couldn’t take part still have the opportunity to do so. Hang about and wait for the update to come.

1 Like

The website crashed under the weight of the 11.40 crowd alone, i.e. just community members and users - that’s not on Freetrade, it is reasonable to expect Crowdcube to deal with this smaller group.

The comparison with Seedrs assumes that Seedrs can cope with these very popular fundraises, I’m afraid there’s no evidence yet to back that up (see Tandem).

1 Like

Any ideas when it might reopen?

Here’s the complete thread -

3 Likes

Yes they do, I had an email from someone at Crowdcube asking about duplicate investments.

2 Likes

Thanks, no idea why I haven’t thought to check if you guys are on Twitter! Now following :slight_smile:

I would like to ask though, are you able to share with us how much of the EIS allowance is actually left? Would be nice to know how much of a chance we actually have to still jump on-board…

… and the complete thread, un-twitterified:

We had to pause our crowdfunding after a few minutes today due to the high number of people trying to invest, causing Crowdcube’s site to crash. We’re humbled by the incredible demand, and apologise to everyone who didn’t get to invest. :pray:

We want to fix this for everyone. We will open the round again as soon as Crowdcube confirms they can handle the load, and everyone who wanted to invest today will have the chance to do so. We reached our initial £1m target within a few minutes. Those initial investors will keep their investments.

A number of investors had their investments accepted multiple times. Duplicated investments will be removed. If you received a successful investment email you can be sure that Crowdcube has processed your investment.

The good news is not all of the EIS allowance was used up, so EIS will still be available until £2m has been invested, when we open the round again.

We’re as eager as you are to open our pitch page again in the next few days. :timer_clock: We’ll give you a shout as soon as we confirm the date and time with Crowdcube. And if you heard about us and our crowdfunding for the first time today, check out our community forum: https://community.freetrade.io , and sign up for updates with your email on http://freetrade.io . Thanks for your understanding! :bowing_woman:

4 Likes

I made two investments for the same amount as well, it was intended. Please don’t let CC auto remove duplicates.

9 Likes

@Gordon please see above!

Thank you for the explanation Ben :grinning: Now I understand :nerd_face:

6 Likes

13 posts were merged into an existing topic: Let us know if you invested the more than once in our crowdfunding round & you want to keep them all!

Any ideas yet when it might reopen?

We hope to reopen the page within the next few days, we’ll keep you updated.

1 Like