POD Point plug in with misleading figures.

Pod Point have raised money on Crowdcube 3 times - each time missing all projections by miles. Each raise has seen an ever increasing valuation based on the the next set of figures. They will surely be back.

In the last raise in March 17, they stated losses for YE June 17 (so 3 months later) would be £2.1m. Filed accounts for YE June 17 show losses of over £4.6m for the year. Staggering incompetence. Especially if you consider what they were promising in the previous 2 rounds.

New deals at the end of 2017 with Tesco and Lidl may alleviate losses, although we are not sure they are due to make any money out of them. No doubt that more charging points for EVs will be required in increasing numbers but it seems these guys have an issue counting. 

Backed by some big hitters including Barclays and Draper Esprit, we feel we must have missed something?

Draper Esprit cover all exits

Draper Esprit are major investors in the Crowdcube platform. Now they are also investors in a Seedrs alumni Perkbox. 

Last year Perkbox ran a successful Seedrs campaign, raising a healthy £4.3m in equity finance through the platform. Nine months later they have secured backing for over $8m from Draper - an outfit that backed Crowdcube rather than Seedrs. 

As we all know Crowdcube and Seedrs are the two leading retail ECF platforms in the UK and are locked in to a winner takes all, rush to a massive ROI success. So this move by Esprit could just be because they see a great deal in Perkbox or it might have something to do with covering off their Crowdcube investment.

One thing is for sure. If Perkbox go on to become the next 'facebook' in investment terms, Esprit's help in getting them there is going to damage Crowdcube.