Rentify raised £1.3m on Crowdcube. Now their website declares the company has a 5 star rating from Trustpilot.
What Rentify have done is cunning. They have produced an image of 5 stars with the TP logo as if it it is the TP rating. Its there front and centre on their home page; you cant miss it. Then underneath they have written 'over 400 5 reviews', where it is quite easily missed. They do have over 400 5 star reviews. But Trustpilot produce an aggregate star rating - they are not about the 5 star or the 1 star reviews only. For example say a company has 5000 reviews - 450 of them are 5 star but the rest are 1 and 2 star. You could not claim that your Trustpilot rating was 5 star - unless you lied. It would be below 2. But you could still claim you had over 400 5 star reviews.
This is certainly misleading if nothing else. The claim is they have a 5 star rating with Trustpilot. They do not. Is that indicative of a company ethos?
Balderton Capital, major Crowdcube backers, are also one of Rentify's main funders. The company is currently late filing accounts. According to their Crowdcube numbers this year saw them leap into £1m+ net profit territory. Hope that wasnt too misleading.
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