My understanding is that Crowdcube Secondary system (They called:Direct Community Offer) is very different to Seedrs and not really design for the regular crowdfundersâŚ
âProviding secondary liquidity for later-stage companiesâ
" [âŚ] brands, like yours, looking for alternative ways of rewarding early backers with some liquidity, without the burden of going public through a traditional IPO."
-" Give early investors, employees and founding teams the opportunity to realise a return on their investment.ÂŁ
âŚso Crowdcube is pitching their secondary service to businesses that want to offer liquidity to their shareholdersâŚbut I guess mostly their employees shareholders.
Id does not seems to be designed with us the âCrowdâ in mind
Thatâs what they have already done with SafeToNet (SafeToNet | Crowdfunding Opportunity | Seedrs) - they are selling shares from their current shareholders pools (eg. mostly employees that received share options I guess).
So SafeToNet is using Seedrs but never issued shares directly for the Crowd.
Thatâs very much what Crowdcube wants to do tooâŚfor us the only benefit is that we can get shares from these companies - but you wont get the EIS benefits!
Iâm surprised no one ainât talking much about âSnoopâ on Seedrs. Might be one of the best start ups Iâve seen in a while. Great team with amazing experience, great app with huge potential for market penetration in both consumer and SME sector. They are pretty much building out everything from scratch and their tech works seamlessly. Itâs just impressive to see a start up operating at such a high level you would think theyâve been around a long time.
These apps have always failed me on their primary purpose of collating my financial information because they never have access to all of it.
Snoop seems to be more geared towards day to day spending and bills so they might skirt that issue, but for me it still misses the point that people dont know how to budget. the saving money part is great but people can save ÂŁ1500 a year by budgeting properly before they even get to things that could save them money on needed services they pay for.
YNAB honestly is probably the best out there for that, and thatâs without it even having UK open banking integration.
So ive always had the same problem with these apps, snoop, plumb, yolt, etc. They always tell me what ive spent. But none of them are really that good at actually helping budget my money for the month.
I can see snoop potentially being successful. but id be unlikely to invest as its basically useless to me, and ultimately i donât think its solves the underlaying issue
Thatâs what I thought at first that it was another budgeting app but itâs so much better. Itâs like it gets better and smarter the more you use it. And they really pull some really useful data. If they keep improving on their tech which is already impressive. I see them growing a lot over a short period.
I think on these Future Fund matched convertibles the 100% plus interest redemption premium is interesting , but Seedrs have stated that they will default to equity conversion and that would not work for me as adding more illiquid assets is not really my game currently, whereas a 3 years 124% is more appealing.
I do find it hard to understand though that if in 3 years investors can get 124% cash return (assuming company is not bust) versus being converted into equity at some crazy valuation how equity convesrion can be in the interests of most investors.
I agree. Having played around with it for a week or so, the value of the suggestions is not great. Telling me I spent xx on my mobile phone bill is no different from the spending tool my bank has that also tells me I spent xx. Canât yet see how it would add value to my life especially at a time when banks are also using open banking to show more data themselves.
Also not sure how carry works on this , if you got paid out 124% in 3 years if Seedrs take a carry on the gain or if you convert there is any carry of any sort. If its carry on redemption then can see that Seedcrowd may have a change of mind once that time comes around as I canât imagine Daz giving that up as cash inflow and revenue to be recognised
Iâm in for ÂŁ2k I also invested in MoneyDashboard and Chip and Coconut so Iâm hoping that 1 or 2 succeed. Iâll say Snoop are at the top followed by MD then Chip then Coconut and my best investment of all FREETRADE
I did not invest in the last round and I am not keen on such frequent campaigns⌠What do you guys think about it all? The money valuation is up nearly x2 and they had over 1,000 investor in their first round?
Certainly looks interesting though it doesnât appear that they offer the product to U.K. investors - shame really because projected returns looks great.
