Glint Pay successfully ran an equity crowdfunding Crowdcube campaign late this summer, raising over £2.2m. Now the campaign is no longer on Crowdcube and we understand that the money never went to the company? So what happened?
On this topic - a reader has pointed put that Nebeus raised over £1m on Crowdcube in September but then pulled the campaign. Anyone know why?? Crowdcube pitch has been removed as usual. What was is it Luke was saying about Crowdcube being open and honest? Oh that's right - nothing honest. Nebeus have now told us that they pulled the campaign (once completed) as they have 'decided to continue our plans independent' (not my typo). It says a lot for a company that it can arrange and then run a £1m plus ECF campaign and then cancel it after completion because it has changed its mind. Avoid would be the best advice. What the ...........are Crowdcube playing at?????
Glint Pay still have this on their website - https://glintpay.com/crowdfunding/ telling everyone what a great success the raise was. Follow the link to Crowdcube and you get a blank.
It wouldnt be the first time that a successful campaign ends up being ditched once the paperwork starts but it would be interesting to know if there is anything odd going on here. So if you are one of 1600 individual investors who thought they had bought shares in Glint Pay please do get in touch - we'd love to hear the story.
And again this is why we need the independent forum that ECF Buzz will offer all investors - see here and please join us - https://www.indiegogo.com/projects/ecf-buzz-the-crowd-investors-information-centre/x/19804529/
Very disappointed Glints dumped it's Crowdcube investors but bet it's uploaded thousands of new users of its card / accounts. I am one of them who only happened across Glint on the CC platform. Have to say I like this card/accounts a lot which is why I had tried to invest. Glint have stated their intention to "offer another exciting opportunity to invest in Glint next year" Hope it's early next year and that they are not already in talks with some takeover preditor.
ReplyDeleteIf another opportunity to invest in the new year, it may be on another funding platform, thereby getting a new batch of card / accounts holders. It remains a good idea, good product/'s good potential and target for take over. The amount I had pledged to invest will now go into their (my) gold account and hopefully, gold goes high so I have more to invest in their nextir exciting opportunity.
Q was why did they or the platform pull it?
DeleteDon't think the platform would pull it. Loose their commission!
ReplyDeleteI'm hoping their honest and have pulled it because their behind with the expansion plans.Had they gone ahead and not been able to meet their targets knowing this from the start would likely bring complaints from some investors. Also I believe 2 directors resigned so more work to share around, more delays. Hope they beleive they done right thing and not because they got a better offer
Glint is a completely pointless concept, why link discretionary spending on a card to a fairly volatile investment in precious metals? Keep cash on your card to spend and invest separate pot of cash in gold if you're a gold bug but combining the two is nonsense.
ReplyDeleteI started pulling apart their product on their Crowdcube discussion and Glint's response was the usual financially illiterate cliches about gold being a long term store of value.
Rob, check another card issuer: Nebeus. They raised more than a million last month but CC cancelled the transaction at the last minute.
ReplyDelete