Crowdcube's new app claims to be a crowdfunding tool for entrepreneurs. Everyone knows that when the engine is smashed to pieces, installing a new satnav will not help your car get you where you are trying to go. It needs a rebuild.
On the App Store there are reviews - we think this one pretty well sums up what most shareholders think about Crowdcube -
Brightonbee,
Disappointed with lack of support
In 2014, I invested £5000 in a startup retailer selling goods from British craftespeople. I am disappointed at the lack of information and support I receive from both parties - the business and the funding platform . Whilst I know crowdfunding is risky and in hindsight, there are better ways of investing £5k, my shares have been diluted and requests for more information have been met with ‘ our accountants cannot deal with individual requests from shareholders ‘ Contact with other shareholders is non existent and I have been asked to vote on share issues and when I asked questions , I was met with ‘ no
Need , we reached our target ‘ where is the evidence ???? This lack of transparency is disconcerting . Similar experiences anyone ? Felt supported ? Kept informed ?
We think we have the answer. ECF.Buzz will hand the power or at least some if it back to investors. We know exactly which company Mr Brightonbee is talking about - they are on our database. Our Buzz Rating for them is 35/100 down from 40/100. All indicators are facing the wrong way. Accounts due out this September and the note above will knock them down further.
Mr Brightonbee's story is one we come across weekly.
So why not join us - we are the sum of all of our members experiences. Together we can hold the platforms up to the light and ensure that they improve their due diligence and as a consequence , their offers. It is common sense.
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