Crowdfund update #3 May 2020

Updated: Sep 13



Another update is here! Truth be told, I hadn’t expected these updates to be a weekly occurrence, but such is the fast-moving times we’re in! We will see a flurry of future fund campaigns over the next month or so. Usual warnings: Please do read the disclosures/risk warnings at the bottom of the post, and just so you know, there are referral links in this blog.


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NEWS 📻📰


The future fund is now accepting applications and is already oversubscribed, with over £500m applied for on the first day, the fund being £250m in size. It is expected that the available capital will be expanded in response to demand. All future fund crowdfunding campaigns will be interest paying convertible notes, and will therefore not be EIS eligible. (Chancellor of the exchequer)


Freetrade closed their 6th crowdfunding round, raising ~£7m from ~8k investors in under a week. They’ve revealed that they’ve become the 2nd largest stockbroker in the UK by number of trades, and hold more in client cash than challenger bank Revolut. Upcoming product developments include 3000 more US stocks, Freetrade 101 (an education feature/initiative), and eventually ‘pre-made’ portfolios. (Altfi, Freetrade)


You’ve probably heard Monzo cut their valuation by 40%. Tom Blomfield stepped down as ceo, becoming president. There are no immediate plans for a crowdfunding round (but i’m hopeful!). (TechCrunch, Monzo)


The Times published a paper on Rightangled (who were running a live campaign at the time) alleging they made misleading statements to customers regarding their COVID-19 tests, culminating in a cease and desist letter from the attorney general of New York. Rightangled stress that the article makes several unfounded allegations. (The Times, Rightangled)


Mindful Chef - the food delivery scaleup, is engaged in discussions for a £25m funding round, this is in response to a ~450% increase in customer numbers since lockdown began. (The Financial Times, Mindful Chef)


Campaigns 💰🔎


Live

Noveltea. Acoholic tea brand. Invest here.

Underthedoormat. Travel startup. Invest here.

Eversend. African neobank. Invest here.

Igloo Energy. Low cost energy supplier. Invest here.

Ripple energy. Own a wind turbine! Invest here.


Upcoming

Good club. Sustainable 'closed-loop' supermarket.

Mate Bike. Register here.

Biohm. Sustaiunable construction startup. Register here.

Miicare. 'Internet of things' startup aimed towards the elderly. Register here.



I must say, there are sadly far too many campaigns and stories going on to write about, and it’s painful for me to have to cut out news for the sake of time or readability. If you do have any questions though, feel free to comment on this post, DM me, etc. The eagle eyed might have noticed I promised a forum post on Hargreaves Lansdown (in recognition of Freetrade’s crowdfunding round, HL being a competitor) last time - It will come shortly, for those interested.


Anyway, thanks for reading! Please do share the blog/forum with your crowd if you get the chance.


Many thanks, as always, to all the contacts and site members who helped contribute to this blog post!


Do your own research | Not financial advice | Capital at risk | Pre-emption campaigns may lack sufficient information for new investors

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None of the content at crowdfeed is financial advice. Remember when investing that your capital is at risk.

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