[Edit - I removed the editorial from the top post and put it here instead]
I think they’re unlikely to reach £20m invested.
It’s possible I guess at £20 per customer but seems unlikely. Max investment is £2,000 per customer, so they won’t benefit from whales investing a lot, and instead will be relying on a lot of small investments. I was thinking of their previous rounds (on crowdcube), which had 6485 investors on round 2 then 3417 investors on round 3 which was only offered to existing investors. Both of those numbers are a long way away from 1 million investors, and the amounts raised were in the low millions (2.4m and 800k). Anyone have numbers for their first round?
So I guess the two extreme scenarios are:
- 1 million customers invest £20 each
- 10,000 customers invest £2000 each
Interesting that they’re doing it in-app and customer only - I imagine that will boost the participation massively compared to requiring crowdcube registration, allow them to manage traffic better and not rely on crowdcube, and also boost their customer numbers a little.
10k customers investing sounds a reasonable aim, but I doubt they’d get £2000 per customer, I’d guess around 20k customers investing with a range of values from £10-£2k each… maybe raising around £10m? If they get above £8million they’d be doing very well.