boundah
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Post by boundah on Jan 9, 2019 16:32:08 GMT
Email just in: ablrate are looking to raise funds with an equity offering via Crowdcube. Anyone willing to share thoughts?
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Post by stevem on Jan 9, 2019 16:43:56 GMT
EIS status would be good to know!
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TitoPuente
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Post by TitoPuente on Jan 9, 2019 16:47:37 GMT
Disappointing that they chose CC. It’s a red flag that shows poor judgment IMHO.
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hazellend
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Post by hazellend on Jan 9, 2019 16:59:12 GMT
Syndicate room is a more professional EIS platform
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Post by Proptechfish on Jan 9, 2019 16:59:19 GMT
Disappointing that they chose CC. It’s a red flag that shows poor judgment IMHO. What make you say that ? I've got one tiny position on CC, a lot less than Seeders. But Seeders charge 7.5% on profit whereas CC don't. I'm not yet long enough in to my positions to really measure performance. Have you had a bad experience with CC, interested to know ?
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Post by ablrate on Jan 9, 2019 17:09:52 GMT
EIS status would be good to know! It is EIS qualifying
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ceejay
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Post by ceejay on Jan 9, 2019 17:20:53 GMT
I note that the email talks positively of the swathe of new loans that are coming in any minute now ... doubtless the same as the new loans that have been coming for the last several months.
As had been said many times, this would be a great platform if only they had a lot more loans. (I'm thinking about ten times as many, not just an extra one or two).
Absent that, and looking at the proportion of their current loan book which is looking troubled, I'm not feeling optimistic. Why are these funds needed now?
A high risk punt, if you ask me. That's not to say "AVOID", of course - if you fancy a flutter then why not? But I'd be very clear that it would be a flutter rather than an investment.
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TitoPuente
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Post by TitoPuente on Jan 9, 2019 17:22:38 GMT
Disappointing that they chose CC. It’s a red flag that shows poor judgment IMHO. What make you say that ? I've got one tiny position on CC, a lot less than Seeders. But Seeders charge 7.5% on profit whereas CC don't. I'm not yet long enough in to my positions to really measure performance. Have you had a bad experience with CC, interested to know ? Search for emoov Crowdcube serious fraud.
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IFISAcava
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Post by IFISAcava on Jan 9, 2019 17:35:42 GMT
I note that the email talks positively of the swathe of new loans that are coming in any minute now ... doubtless the same as the new loans that have been coming for the last several months.
As had been said many times, this would be a great platform if only they had a lot more loans. (I'm thinking about ten times as many, not just an extra one or two).
Absent that, and looking at the proportion of their current loan book which is looking troubled, I'm not feeling optimistic. Why are these funds needed now?
A high risk punt, if you ask me. That's not to say "AVOID", of course - if you fancy a flutter then why not? But I'd be very clear that it would be a flutter rather than an investment.
with some pretty nice tax benefits on the flutter
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Post by Proptechfish on Jan 9, 2019 17:39:02 GMT
TitoPuente ah now i remember hearing about this vaguely, thanks. I see startup equity as the highest risk investment i participate in (i assume a 60% failure rate over all positions ). But you're right, the case highlighted is very concerning and not that long ago either. While i'm happy to support Abl i'm now hesitant over the use of CC. ablrate are you able to provide any further detail on the decision to use CC, or at least provide your intended exit/return for equity investors ?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 9, 2019 17:45:09 GMT
Disappointing that they chose CC. It’s a red flag that shows poor judgment IMHO. What make you say that ? I've got one tiny position on CC, a lot less than Seeders. But Seeders charge 7.5% on profit whereas CC don't. I'm not yet long enough in to my positions to really measure performance. Have you had a bad experience with CC, interested to know ? Horror stories from both here. fantasyequitycrowdfunding.blogspot.com/?m=1
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Post by ablrate on Jan 9, 2019 17:49:43 GMT
I note that the email talks positively of the swathe of new loans that are coming in any minute now ... doubtless the same as the new loans that have been coming for the last several months.
As had been said many times, this would be a great platform if only they had a lot more loans. (I'm thinking about ten times as many, not just an extra one or two).
Absent that, and looking at the proportion of their current loan book which is looking troubled, I'm not feeling optimistic. Why are these funds needed now?
A high risk punt, if you ask me. That's not to say "AVOID", of course - if you fancy a flutter then why not? But I'd be very clear that it would be a flutter rather than an investment.
It is tough to counter comments here because of the 'financial promotion' rules. So forgive me if i don't comment on opinion. I am not being rude or ignoring it, but we can only respond with information. The opinion has to be yours. So to answer the points: 1. Origination has been a priority and now we have a very healthy pipeline. 2. As per the pitch deck, the funds are to expand the team for origination launch our broker platform and marketing for lenders to fill those loans 3. Recovery has always been a priority and anyone who has been with us for any length of time will know that we are not too bad at it. M** is almost done, the Fishing loan is the same, the containers are in court (finally) and the pubs will have some news shortly which may change your view.
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boundah
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Post by boundah on Jan 9, 2019 18:04:50 GMT
What make you say that ? I've got one tiny position on CC, a lot less than Seeders. But Seeders charge 7.5% on profit whereas CC don't. I'm not yet long enough in to my positions to really measure performance. Have you had a bad experience with CC, interested to know ? Horror stories from both here. fantasyequitycrowdfunding.blogspot.com/?m=1Does it really matter which platform a company chooses for fundraising? I'm a novice in off-exchange sharedealing but would have thought the quality of the underlying business is what counts. Of course there will be quite a few losses/failures but isn't that the nature of start-up investing?
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blender
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Post by blender on Jan 9, 2019 18:10:32 GMT
Personally I will make no comment and take no action until I hear the resolution of the pub loans - not just token payments. I have very little cash at stake there. Other than that, I have done very well so far with Ablrate (no losses), it is still my largest platform, I like the model and the people, and wish Ablrate continued success.
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Post by Proptechfish on Jan 9, 2019 18:18:58 GMT
Does it really matter which platform a company chooses for fundraising? I'm a novice in off-exchange sharedealing but would have thought the quality of the underlying business is what counts. Of course there will be quite a few losses/failures but isn't that the nature of start-up investing? IMO yes. Equity platforms don't make huge profits and if CC are facing legal action (possibly multiples) then that undermines the financial stability of the platform. If the worse was was to happen where would that leave the equity investments that have been made under CC's nominatition. Possibly lost in the eather.
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