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Thursday, 28 February 2019

Seedrs' success Vini Italiani crashes out with a pre pack and debts to its traders of £650k.

Vini funded 3 times on Seedrs  - a total of £670k invested. At the end of last year they gave up and called in the Admin Boys. But not before one of them had set up a newco, B Wines, to phoenix the company's assets whilst off loading its tiresome creditors. 

You cant really blame the system - those are the rules. Under normal conditions and with a working moral compass, these pre packs can work out to the benefit of creditors. But when you leave trade creditors with outstanding debts of around £700k, one has to question the logic, let alone the morality. The current rules cannot cope with the 21stC. 

The story of the collapse is typical of ECF and is one we have repeated many times on here. Overtrading and very poor management. Chronic cash shortages and no one (stupid enough) to refinance at the last minute. The company and its assets were sold for £150k, which along with the cash, paid out the only secured creditor. 

But the CEO was looking to do this before it happened and was told by the administrators that they had to market the company first! Instead of closing the loss making, most recent unit, he just shoved the whole thing, its creditors and investors, in the bin. Waited a few weeks for his offer to be the only one available and hey presto Sig. Cernecca is now the proud owner of a debt free company. Meanwhile pages worth of creditors, large and small, are scratching their heads wondering why they have lay off staff. 

In the end all of this was facilitated by Seedrs, an FCA regulated ECF platform. Three times. In fact the administrators report identifies the exact action which put Vini in real trouble. In 2017, just after the final raise on Seedrs, they opened another unit in Greenwich. What was projected as a quick profit turning unit, was a disaster. People in Greenwich, it turned out,  had a lower average spend than in Covent Garden and South Ken. Who knew that? Before this, the company was starting to make some progress, albeit slow. The capex and losses in Greenwich sank the lot. 

The lesson has to be that investors must be more savvy, they need to know that they doing. And platforms have to be willing to say no to a company like Vini, which had already been twice, when the company situation at the start of 2017 was obviously highly precarious. That means they have to be willing to give up their commission for the greater good. Is that ever likely under the current rules? No. It sure does make a joke out their claims to be diligent. 

Monday, 25 February 2019

Ikee file more incorrect accounts. Is this a joke?

Ikee raised £72k from Crowdcube investors in 2015. The last update we have seen was for Q1 2017, telling the unfortunate SHs that they had had to start again. Their gadget didnt work.

The have just filed accounts for YE 18. They have no shareholder funds -  or no record of the money invested by Crowdcube investors. If you look back there is a filing detailing the investment in 2015 but it has been incorrectly filled out. If investors' money is in these accounts it has been filed under Creditors, where a similar sum is noted as simply 'other creditors'. Of course these are not creditors at all; they are shareholders.

We were contacted by a shareholder - who had paid for shares. He wanted to know what was going on, so he asked us. It appears that the company has on issue over 1m shares, of which Crowdcube, who always purchase £10 worth, own 11, according to filings. So they own 11/1000000 of the company. Having paid £10 for the 11 shares, that would now value the company at £1m. Unless of course the dilution meant it was exactly the opposite. Of course the company is not worth £1m. So each share must be worth a fraction of the £1 it was bought for. You might be surprised to hear that the founder owns 9,600,000 of these shares. We suspect that this is a catastrophic filing error - that would at least be consistent with the accounts.

On checking - which took sometime - the company issued by special resolution in August 2015, a share subdivision for their £1 ords - making them £0.001 shares. This wasnt then filed until November 2015, so after the Crowdcube raise. So shares issued to Crowdcube investors were falsely filed as being worth £0.001 each - Crowdcube's £10 buying them a value of 1p. This would explain things. It does not explain however, how we have company directors who appear not understand how to carry out their legal duties. And Crowdcube!!! Somehting we have been banging on about for 5 years or more. This is certainly not the first case we have found.

As to its product?

Enough said. We have mentioned these guys before here

ECf needs to do better than this. Where was the Crowdcube DD on this one? Certainly the 2017 update suggests that nothing had been trialled.

The founder has been involved in a plethora of companies - many of them now closed or dormant. We found it hard to find one that looked like it was successful but to be fair it can be hard to tell. Prolific certainly. His FB and Instagram page paint a picture of the high lifestyle to which successful entrepreneurs are entitled.

In this case, Crowdcube put this company through its incubator 'service'. Well done guys.

Wednesday, 20 February 2019

Monzo and Crowdcube try to change investors rights. Are they being totally open about the consequences?

 In a request we have seen from Crowdcube, concerning Crowdcube's Monzo Nominee SHs, investors are being asked to agree to a series of fundamental changes to the their original shareholder terms. These changes, it is declared, are in the best interests of SHs.

We dont wish to go into what is a private matter between SHs and Crowdcube/Monzo on here but if this clause or something pertaining to it, was to be found, for example, in the new terms, would it worry you? The nominee would in this case be Crowdcube - if this was in fact a real clause from the changes - 

Save in respect of the Nominee’s fraud, negligence or default, the Nominee shall have no liability whatsoever to the Investor and may use any assets it holds on trust to cover any loss, liability, damages, costs and expenses incurred or suffered by the Nominee in the due performance of its rights and obligations under this Declaration of Trust.

The Monzo forum for these things is buzzing with investors asking what these changes mean, many of them declaring that they don't have time to read through them or indeed if they have, that they simply don't understand them. Apparently Monzo did not see fit to include an email of their own. You can see the forum here

It looks to us as if Crowdcube have handled this very poorly.  And as if by magic, CC have now posted a long explanation (their idea of one) which includes this - 

Can Crowdcube use the value of our shares held in their trust to cover any losses they might incur for fraud, negligence or breach of the terms?
This term has not changed and was included in the existing Declaration of Trust.

Do Investors ever read the DofT? 'Any losses'  - so for example if they lost a case against them from SHs in Emoov or Sugru? This strikes me as crazy. Plus there is the new issue of CC being able to slap expenses on without aksing - even though they say they wont. If they wont why do they need the permission? Is there a lawyer in the house? 

Monday, 18 February 2019

Richard Branson lends his face to a crazy world

Image result for richard branson

Branson referrals are two a penny or so it seems. Having his mugshot on your website telling everyone that he applauds what you are doing, must be a positive driver. Even if he was referring to a now dormant company back in 2012. 

The company in question was Bnktothefuture; now registered as a non trading, dormant company at CH. It was this company back in 2012 that the great man was talking about. The director Simon Dixon has long since legged it to Hong Kong where his Caymen Islands version of Bnktothefuture, seems to be doing very well. 

So you have to ask why he is using the Branson quote and a large smiling dicky pic on his current Caymen Islands owned website? And you have to ask why he has a source button for it that refers you back to the slightly embarrassing article by a certain young financial journalist, who has fortunately moved on and is now a very highly regarded part of the financial journalists elite. Clearly the article dated 2012 has no reference to what Dixon is doing in Hong Kong or to the vehilcle(s) he is using to do it. It is simply untrue. 

On the same current site, Dixon has a BBC (London local) news item interview with him on Bitcoin. The eatery that is used in the clip as a place that takes bitcoin has now closed down. Oh well, why let some facts get in the way of fantasy.

Isnt it about time someone started cleaning up the internet. There is so much fake news and down right lies out there. Dicky could start by taking action against people who misuse his face. 

Sunday, 17 February 2019

P2P lending sector starts to unravel. Havent we been here before?

With news that Crowdstacker have outstanding loans with Amicus Finance, now in administration, coming hard on the heals of their loans with BurningNight, also in administration, looking likely to fail, Seedrs investors in Crowdstacker must be a little worried.

If there is one thing P2P lending platforms hate, it's loan defaults. One is unfortunate but two side by side is careless. How many more out there are waiting to go?

Seedr's investors put £800k into Crowdstacker - one of the UKs leading P2P companies - in July last year. Now, with two large partial defaults on outstanding loans totalling £4m and £7.5m, Crowdstacker doesnt look quite so appetising. 

According to some good research from the Times, Crowdstacker was also borrowing money from Amicus, as well as lending to it. Here

Calls for better regulation and more transparency in the P2P and equity crowdfunding sectors, led mainly by private investors, have fallen on deaf ears so far. Is that about to change? Or will it take another train wreck like 2008 to get some reaction. Seriously, when will we learn. 

We wrote about Crowdstacker here. The Amicus administration has not yet filed relevant documents but the latest on Burningnight suggests that only a fraction of the 'secured' £7.5m loan will be repaid.  

Saturday, 16 February 2019

Finally the Cgon saga ends in liquidation. Another Crowdcube success story.

Cgon raised £180k on Crowdcube in 2014. Next week it goes into liquidation. Their projections showed profits for £14m by now on a £20m turnover. Where will it all end?

Cgon dont seem to have done much since 2014; except make losses. We have covered their progress here.

Hard to know what to say to investors. Maybe  - 'Loss relief is finally available'.

Their website tells visitors to go here for servicing Qs. 

At a £20m valuation, Den's new Seedrs funding round poses an interesting question.

Den are overfunding on Seedrs, having set themselves a very low target. The valuation is £20m for a company that has only just started to sell a product. Its major competition is having a 50% off sale and saw revenues fall in its last FY.

Should that ring alarm bells?

We think so. Den are late getting to market and have already raised around £5m to get to this stage. It is far too early to tell if the product is a winner or not but you wouldnt know that to read their pitch.

Their main competition has been selling into this market for a while now, is a plc and has had £12m invested. And still it has come out with its YE Sept18 numbers looking distinctly damp. Revenues were down from £3m to £2.8m on a falling GPM and a huge rise in expenses. The directors and various NEDs have been taking out large sums considering the lack of any profit.

All of that maybe an advantage to Den. But not if the falling sales figures are part of a market retraction, rather than poor management. That we dont know...yet.

We still think a valuation of £20m is bonkers. But what do we know. And why set a target a touch over £200k, with large investors putting in £50k sums. How is that equity crowdfunding and how is that transparent? We wonder what the real target is?

Having remote light switches may well be useful but is it really required? Does it really do some good for our lives and for our planet. As a child I was taught to turn out lights. What happens to all those children who have this remote system when they live in homes that are without it? They leave everything on because they were not taught to turn it off. When did we become unable to turn off lights? So is this really the next big thing?

Of course if our ECF.Buzz forum was up and running, as it will be in July, you could all discuss this without fear of the investor platform removing your comments. So if you havent already, take a look and sign up now whilst the 50% discount is still on - here

Friday, 15 February 2019

Kokoon launch new Seedrs. Will investors listen again?

Kokoon make sleep assisting headphones. They presold thousands of them in 2015 on Kickstarter, many of which have still not been delivered. The Kickstarter forum makes for interesting reading.

We haven't seen the terms of this latest raise. Im not sure we want to. All you have to do if you are interested in this company as an investment, is look at their KS campaign, the claims they have made over a number of raises, on Seedrs and Crowdcube and then look at what has in fact really happened. The last Crowdcube round was at the end of 2018 - a private round  - we do not know the outcome.  Given that they are now on Seedrs, maybe it didn't go so well?

We now understand that they have raised (18 Feb 2019) another £800k from existing backers. The Seedsr round is about to launch.

Everyone knows how difficult it is to get a new product to market. Everyone knows how many delays there will be with tech product iterations until they become scaleable and saleable items. We all know all of this. Clearly Kokoon didnt.  As if they had they would not have sent forth projections to gather funding which now look ridiculous.

We have been writing about them for a while - here 

They seem to be best at ignoring the obvious. That tactic may yet work but please dont be fooled by what you read in their pitches.

You can find the KS campaign here - 4338 comments and counting. The KS campaign attracted just under £2m from 8,400 punters with a delivery date of September 2015. How many exactly of these have received their headphones by 2019 is not clear. What is clear is that many have not. Those that have, seem on the whole, to be satisfied or maybe that is just knackered from 3 years of insomnia.

Thursday, 14 February 2019

Justpark's new shareholder 'request' illustrates the need for ECF.Buzz

Justpark have asked shareholders to click a box to allow them to raise loan finance. Which is fine apart from the total lack of information, the chance to ask questions in a forum and the information that is supplied being less than symmetrical.

Justpark are a regular on Crowdcube, having raised over £6m so far. Now they are telling shareholders that bank finance is a cheaper way of funding and it will have less impact vis a vis dilution. Eh? Well if you read the notice sent out to SHs, via Crowdcube, it goes on to explain that the bank in question will have rights to shares as well. So that isn't equity finance and wont that cause dilution? No mention of the price paid for these shares is given. Nor is there any mention of the amount being raised.

The company, who have struggled since 2014, are now making progress and certainly reviews have improved in the last year. However I'm sure investors will want to know why they chose to share the B2B revenue metric and not share the parking revenue metric? And guys using percentage increases is really pointless and can be misleading. A Year on Year increase from £10 to £20 is a 100% increase but it's not something to celebrate.

As a general rule, we always tell people that more often than not, it's what the company doesn't tell you that is important, especially if they start using odd metrics and percentage increases with no base figure. Just an observation we have come to from 8 years of looking at ECf pitches.

Losses to date have been large. But that has all been put down to gaining traction. That is the new normal.

We think your shareholders deserve better - they have after all put you where you are now.

ECf.Buzz will help investors get the real information so that they can make an informed decision rather than guessing.

Sunday, 10 February 2019

What's up at Crowdcube's Chupamobile? £750k invested in 2014 and now where are they?

Sorry if we are sounding a little repetitive. We just report the facts. Chupamobile's late accounts for YE Dec17, show little activity and less cash. Trustpilot reviews for Jan 2019 suggest the service has crashed.

Chupamoble were due to file profits in the millions last year and presumably this. Well that didnt happen - we just had further losses. So these things take longer than anyone knew - give them a break! Why do you always have to shine a light on the negative? 

Recent posts for January 2019 here  suggest there is something a little more serious going on. Users are not being paid for their apps. Other reviews confirm this pattern.

They need to refinance. But who would .................. Expect a Crowdcube pitch shortly.

The CEO is an interesting guy - Stefano Argiolas - an Italian. His LI page here  makes a claim that he raised $2m for Chupamobile

'In 2012 I founded Chupamobile and grow the company from scratch to a Multimillion Dollars Company in less than 2 years. Found the most amazing angel investors and raised $2M to support our global expansion.' 

Accounts do not show this investment and the company certainly never made any millions of anything. Stefano is like the Crowdcube founders  - a marketing guy. The company book value was just over £5k at the end of December 2017. In 2014, investors paid over £3.5m for it. It is a classic Crowdcube success. There are 3 strike off notices filed at CH. 

It appears he is now in the Rome area running a new business based in Italy - https://hej.ai/, which he set up in 2017. That might explain why the reviews keep mentioning the lack of any customer service for Chupamobile.

We tried very hard to find a positive here. Maybe some loss relief would help. 

Saturday, 9 February 2019

Gripit - back yet again asking for MORE.

Image result for more please

Gripit is a mystery. You would think that with Deborah Meaden as a shareholder and adviser, they would be able to get some sensible projections prepared. Well you would be wrong. Crowdcube investors in this new round really should take note of what they have failed to deliver so far, not what they promise for tomorrow. 

There is nothing wrong with the product. It works and people love it. It fulfils a need and it has traction. What could go wrong?

Well sales for starters. Gripit first funded on Crowdcube in 2016 and then again in 2017 - over £4m in total. Meaden joined the team in 2016 after a Dragons Den show. 

You could forgive the company for being over optimistic in 2016. And they were. But in 2017, with the wise old bird on board, you would hope that the numbers might be close to deliverable. But they were even worse. 

Without wanting to go into numbers for obvious reasons, Crowdcube investors really must ask Gripit about their two sets of projections and why they have not managed to get close to them. And we mean not close. Here is a clue - £19m £12m £2m. If I was to say to you that the the first number was predicted to be the last number you might think I was crazy. Even the second is a fair way off the last one. You can join the dots. 

They are the sort of projections and real numbers that would get you laughed out of the Den. And in this round the claim that the GPM is now higher than projected is simply not true.

Reasons are given for the shortfall belatedly in the forum but they dont really make sense. Claims that the housing market has taken a dive since 2016 simply are not backed up by the facts. New builds, which is what is being referred to, bottomed out in 2008/9 and have gown year on year since then. Now we may see a real drop with the mess this Government is making of Brexit but that isnt in 2017/18 as stated. 

Meanwhile the CEO has been purchasing and running another business - dealing in numbers plates so not exactly in the same market, which also used Crowdcube to raise capital.

And what of Brexit? If a company cannot project reasonably accurate numbers in peacetime, then with this large black blog on the crest of the hill, what chance is there? Imagine a possible response to this Q. Gripits are UK made so any exports would benefit from the falling pound. However the component parts are not all UK made  - is this ringing Brexit Bells? The company might state that their suppliers have stockpiled enough extra to cover them. But what is enough when the company cannot even sensibly project its own requirements for 12 months? Why would a supplier purchase and pay for extra bits on the assumption that Gripit will buy them as demand increases. Based on previous years demand has hardly increased and certainly not at the rate projected. The suppliers would go bust as they have paid for their extra stockpile but cant sell it through. 

We are not recommending Gripit or dishing it. Given time there is little reason to think it wont make something of itself. Just not along the lines that the CEO plans. All we are saying is take a careful look at what has been promised for 2 years and what has been delivered. At some stage there must be a credibility issue. Would it not be fairer to investors for this current raise to be open and honest and publish the last two sets of projections? Wouldnt that be a more democratic way for Crowdcube to do things - give investors all the information - not select the bits they think they can get away with.

Given this opportunity in the forum, it is shame that the CEO has not taken it.

We have written about them before here  .

Growth since 2015 has been slow. That is a fact. If you just read the latest pitch you would not know that. That's why we are setting up ECF.Buzz and why you all should be joining. If you want this information in the future that is. 

Friday, 8 February 2019

Hopscotch Brands' Choc+ finally crash out leaving investors licking their fingers and claiming loss relief.

So another Crowdcube company ends. This one had been a zombie for a while. Crowdcube investors gave them £168k in 2015 and an email seen buy us in December 2017 declared its closure. A full 12 months later it has now been dissolved.

Simon Coyle founded and ran the company. The Crowdcube pitch promised many things but not many of them came to pass. We wrote about them as they headed down the hill. Here .

The company had not filed any accounts since June 2016 and despite the attempted suspension of the strike off in January this year, the final notice has now been delivered. Seriously who runs a company and doesnt bother to file accounts?

At least investors will now be able to claim their loss relief.

Thursday, 7 February 2019

Is Crowdfunder struggling?

Crowdfunder were due to make very large profits for YE December 2018. The last filed accounts for the 3 months to December 2017 show a loss of £360k - for just 3 months or did we mention that  already.

Crowdfunder operates in a crowded space with several major players  - Kickstarter and Indiegogo being two of them. They have so far failed to live up to their own projections. But if you knew that Darren Westlake was a director of Crowdfunder, you might not find that so surprising. It's the reason we chose Indiegogo for our recent successful ECf.Buzz campaign.

Crowdfunder has so far raised £2.92m on Crowdcube in three rounds in 2014/15 and 17. Do you think they pay the full 8% commission? The company has accumulated losses to YE Dec17 of £2.357m. Seems that the business model is similar to Crowdcube's.

We wait to see what YE Dec18 delivers.

Wednesday, 6 February 2019

Has Pull'd called it a day . Another Crowdcube failure?

We ask the question, as they have just filed accounts showing the company balance for YE December 2018 at £185 and a Google search reveals no website and the Cannon St venue says its permanently shut. So a Zombie really.  

Crowdcube investors put just £100k into this takeaway joint in 2015. It never really got going. Things have looked better.

The giveaway for us is that the £105k of fixed assets in last years accounts, themselves only recently filed, have all gone. Sold one assumes. Hard to run a F&B business without any equipment.  

Pull'd did try its wool trick on Crowdcube investors in a second round which bombed - a second round which had an increased valuation despite missing its previous targets. Well at least investors saw that one coming. We mentioned them before here.

Maybe a more realistic approach would have worked. It's a very tough market and only the very best will survive. 

Tuesday, 5 February 2019

Not much intelligence in Wisdom of Crowds as another Crowdcube funded business is dissolved.

Wisdom of Crowds has eventually closed, gone west; lain down its weary head at last. Crowdcube investors gave this outfit £400k in 2015. Why?

What a waste of time and money. Pointless company badly run and eventually closes. How often do investors have to see the same pattern before they wake up. Surely this money could be better spent helping the homeless? Or maybe that  is the point - they actually enjoy losing money? 

If that is so, then Crowdcube are onto a winner. 

We wrote about them before here

What's your Grind?

Grind &Co, the coffee expert food chain, have done well on Crowdcube. They first raised a £1.3m, 4 year bond and then another £1.9m in equity funding, from 1200 Crowdcube investors. The bond is due for repayment this July. So far they have missed their aspirations by someway.

Grind currently have 9 outlets, one short of the number they'd hoped for. However that isnt the issue. It's what these units are producing which must be cause for concern. Substantial projected profits have been replaced with even larger losses - averaging over £1.3m per year for FY 2017 and 2018.

Clearly repayment of the bond in July might be an issue. Another cash injection at the end of 2018 may help but not if losses since April 18 have been at the same levels as 2016 and 2017. The accounts show some interesting debtor numbers. It will certainly tighten future grinds more than a little.

Sunday, 3 February 2019

We take a look at Crowdcube's early 2018 accounts.

Crowdcube have filed their accounts for YE September 2018 six months early. We assume that means yet another new round of funding is in the air. With cumulative losses now of over £20m, they raised over £4m at the end of 2018, which is not in these accounts. That gives them some time to play with. 

In a move that many of their funded companies use, Crowdcube love to flit between calendar year projections and financial year accounts. As they are so enthusiastic about transparency this cant be because it makes it difficult to compare year on year between their PR and the accounts.

YE Sept18 saw a reduced loss of just over £3m - down from £4.7m. This included extra income in 2018 of £410k which is unexplained. Revenues grew from £3.7m to £5.2m with the administration costs being tied down to £6.8m, against £6.6m in 2017. Tightening of belts seems to be evident. 

As we said, it is hard to know what figure (total raised on the platform for which commission is charged) 2018 produced to create the £5.2m revenues. Crowdcube's PR cupboard claim £147m was raised through the platform in 2018 (not stated but we assume CY). So if we take £120m for the YE Sept18, then the commission rate looks around 4.33%. As they charge around 8% to ordinary companies, they must still be granting some lovely discounts to the more PRable ones. Very democratic. 

So what does all this mean?

In our opinion they have achieved considerably more than we expected. However, to reach BE they need to add another ~£80m to their raised figure. Is that likely in 2019. No. Can they keep going  - for now yes. Depends on two things - getting a headline success and having fewer high profile disasters like Emoov. And of course Brexit. Crowdcube's Brexit paragraph in the new accounts has more than doubled in size since the last accounts. Maybe there is a message there? There is an interesting piece in the FT today https://www.ft.com/content/44c3564c-231f-11e9-8ce6-5db4543da632 on this.

Crowdcube off loaded 14 employees  - the average figure for 2018 was 65 as opposed to 79 in 2017. Their PR never mentions that. Likewise it never mentions the rise in Directors' remuneration from £482k to £539k.  

Unfortunately the chances of more high profile disasters is far higher than a headline exit - but you can only hope. It is difficult to ignore the facts - Crowdcube has and is still funding many businesses with valuations that are off the scale and growth plans from a fantasy world. 

Just as a timely reminder, looking back over the now famous Crowdcube PR and the 2016 raise, they listed Emoov as a business they were proud to working with. With judgement like, that what hope is there?

They treat investors as canon fodder. How long both of these facts can be restrained from breaking the company in half is a mute point. 8 years is a long time. The obvious conclusion is not forever. 

Ex Lick Frozen Yogurt entrepreneur launches new health food, Human Food.

Ky Wright - one of the two guys behind the failed Lick Frozen yogurt venture, which took £280k off Crowdcube investors, has launched his newco, Human Food.

The Human Food pitch, which is available on application, makes Lick out to be some sort of success. Investors may choose to disagree. The Lick brand, as we noted a short while ago, has now resurfaced in the UAE. It was sold for £20k in the liquidation, which left shareholders and creditors way out of pocket. The pitch makes no mention of the failure of Lick and its debts. Surprising. 

Ky Wright states in the new company presentation that he left Lick in 2014 - which would of course be a little odd as he appeared in the Crowdcude pitch in 2015. CH records show he was a director until it was finally closed last September. I do wish CH would get their records sorted out. 

Human Food ran a Kickstarter campaign which raised an impressive £80k from 851 backers. 3 of these backers paid over £4700 for 6 years subscription - incredible. The last comment on the campaign board is asking when the product is going to be delivered, with a response saying that delays,outside our control, means January 2019. The latest update has pushed delivery back to March 19. The campaign's original stated delivery was September 2018. Is this ringing any bells with Kokoon and Jivr investors?

If anyone is interested then they should contact Human Food via their website. They appear to be looking for £50k for now. You might want to take a look at their exponential growth forecasts. 

Please note we are not recommending this! Information contained here will soon only be available to members of ECF.buzz  - so join up now whilst the 50% discount is still available. 

Our thanks go to a reader for the link to the newco's pitch. The power of collective information. 

Friday, 1 February 2019

Silkfred looking good as completes new funding valuing itself at £62m.

2013 Crowdcube investors bought in at ~£560,000 but have seen considerable dilution. Still Silkfred have just raised around £3.6m at this new valuation, so things are looking good. 

When is the IPO? Read about them here