Wednesday, 9 May 2018

Lux Rewards chooses Angels Den for Round 2

Lux Rewards took £82k off Crowdcube investors in 2016, now they are back but this time on Angels Den and have raised £66k  and looking for another £90k. 

The new pitch doesn't mention the Crowdcube round. That maybe because Lux has not managed to get close to its Crowdcube claims of 5000 downloads. The company has only a regional presence in restaurants in Bath and Bristol with 1700 users. This after two years. 

Not quite what investors were fed before. The 'valuation' has gone up, so another great number for the Beauhurst analysts. Accounts for its first year show a £50k loss. Its just another on of those  - oh look lets create a business because the internet exists - businesses. 

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