Tuesday, 10 March 2015

Full Disclosure

Sometimes its not what you say but what you fail to say that could be important.

Squareknot is a young ECF site based in Glasgow. They only have a few pitches and only two equity pitches have completed successfully. One of them has as one of its Directors someone who is also a Director of the platform. This information is not supplied in the pitch. Does this matter? As the pitch only had 4 investors (what you might call a small crowd) then we believe it does.  ECF platforms have to build 'successes', which in turn create momentum and help build an investor base. Credibility and therefore activity, is all about how many successes you have had.

The whole point of ECF is that is supposed to be of the people, for the people. Unlike some of the practices that our bankers have been getting up to, it is all open and beyond reproach.

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