Landbay Partners raised £50k on Crowdcube many moons ago and then raised £1.6m on Seedrs in March of this year. Their accounts for YE Dec17 show some slippage on their Seedrs numbers.
Revenues for the year were supposed to be £1.194m but came in at £994k. The GPM took a bit of a hammering falling from the projected 37% to 25%. The projected loss for the year was £2.3m but came in at £2m due to reduced costs. Given that these numbers were, in March 2018, historic the variations are a surprise.
When you are pushing for market share in an increasingly bloated space and have to reduce spending, that is not a great plan. Time will tell.
