Monday, 23 October 2017

Monetaflex has gone - Long Live EarlyAce. A common tale from the Crowdcube.


In more shenanigans on the Crowdcube platform, ex Crowdcube success Monetflex director Simbarashe Chiguma, has set up a newco doing the same thing - EarlyAce. 


Chiguma, a co founder, resigned from Monetaflex last year, just 12 months after the Crowdcube campaign. The company raised £160k on Crowdcube for the business which was an online platform for the sale of invoice credit. We wrote about them here. They recently decided to close with the loss of all investors cash.

In the video that they used to take money off Crowdcube investors, they had all sorts of successful businesses using their services and an 'investor' who was purported to be a highly successful individual. This all  looks a little odd now.

Since incorporating EarlyAce in November 2016, the month he resigned from Monetaflex, Chiguma has been busy raising funding - 4 small tranches which give him around £200k to play with. Lets  hope he does better this time. 

Thanks to our reader for the heads up. 

3 comments:

  1. on a completely different subject, Flexyfoot on Seedrs went under last week.

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  2. How the **** can the platform allow these jokers to do this? I understand they throw due diligence onto the investors (mugs), but this should be a basic filter for the platform to disallow these kind of deals to re-appear.

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  3. Simply, they dont care a hoot. Crowdcube will be gone soon enough thank goodness.

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