We came across this, by accident, when building our DB. It is the shocking revelation that Seedrs are happy to tell people that a company using their platform in January 2016, successfully raised £186k. In fact no money was finally raised and no shares were issued. That was 3 years ago - so why has this information on an FCA regulated site, not been corrected?
The company in question is a bar operator and beer producer in Brighton - now going great guns and they were extremely helpful in supplying the correct information. We hope that they go on to make something very special down there.
Back to the culprits. Seedrs have a duty of care under their FCA licence 'not to present misleading information'. So do we think that completely bogus funding claims are misleading? Well, we do. Should it be up to us to tell them this? No. Why cant they just be honest or are they incompetent? Well you can make up your own minds on that one.
There is a very good and very sensible reason why this 'successfully funded' pitch never funded. The plan had involved the Landlord of the building that The Bison Arms was to be created in. In the end he and they did not see eye to eye and the so they never called on the funds or issued shares, even though the pitch had reached almost 200% of its initial target. Or so they tell us and we have no reason to look for any other explanation. There are no records we can find of any shares being issued to this value.
So Seedrs how many of your claimed 'fully funded' records are bogus?
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