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Thursday, 27 September 2018

What has happened at Crowdcube high flier Grafter?

As Crowdcube hit the waves again with more BS about their 100th £1m raise, real questions remain unanswered. Grafter raised £233k from 329 investors last year on Crowdcube. That money is all gone.

Grafter recently filed accounts for 4 months to YE Apr18. These showed a deficit of £40k. So the £233k from Crowdcube has gone - even though the plans showed they only needed £150k.

Why they have issued accounts for 4 months is anyone's guess. The loss for that period is £80k - so extrapolated that's another loss for the year, of around £240k. 

With a 213 Twitter following and 265 on FB,  it seems the message is being sold a little short 

More funding please.

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