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Rob C

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Review of the Crowdcube, Equity Crowdfunding:

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CrowdCube is not what it seems.

CrowdCube is not what it seems. Officially according to CrowdCube we raised £700k on the platform. This is very very far from the truth. We, the company, raised £630k ourselves from existing and new shareholders. CrowdCube riased £70k from it's network and yet claims to have raised the whole amount. In order to go live on the platform and induce FOMO we were told that we had to raise 75% of the minimum raise before they would put us live. What?!?! The whole point is to raise new money from new investors. It is not to raise money from our own sources and attribute this to CrowdCube. I would not use CrowdCube again as it simply does not deliver what it purports to deliver, is a lot of smoke and mirrors, is not telling the truth about sources of funds and who is responsible for them on it's site. I suspect this may be true of other crowd funding sites too now I dig into it in more detail and understand the actual process better having been through it. We had no option other than to accept the £70k they raised as still had to pay the minimum commission fee of £15,000. In order to cover this we had to take the money they raised. i would have preferred not to. I also had to accept investments from investors who wanted to buy 1 share. I mean really?!?!? The admin and time wasting in investing £20 just doesn't make any sense at all. The CrowdCube team were good and helpful and polite. The fundamental flwas in the CrowdCube model are not their fault. Overall a very unhappy and disappointing experience. 1 out of 10. Reviewed on: 5th December 2024

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