Recruitive Software or Red Advertising, have been successful on Crowdcube 4 times and have just now, crossed the line for the fifth time - in total raising over £1m. That has to be some kind of record.
We really didnt think they had a chance this time. Since 2012, they have never once got anywhere near to their Crowdcube projections - racking up losses since 2012 of £2.28m to YE May 2017. But with extensions and the power of positive thought, they are there again, in the land of fruitful overfunding.
The current PD has it all - a setting (or is that rising?) sun and a simple graphic illustrating a 12X ROI by 2022. Based as ever on projections yet to be realised. Valuation now of £4.8m which is fantastic compared with the last CC raise when it was around £2.5m. Methodology is a mystery.
So we have to congratulate them and their fellow investors for seeing something we cant. Profits are, as always, just a little way further forward and an exit is just around the next corner - no not this one, that one over there. Projections we have seen for a pitch on Thincats showed profits for YE May17 of £309k but in reality the year saw losses of £300k. Believe what you will, with your money, these guys just keep on rolling.