rs
Member of DD Central
Posts: 467
Likes: 254
|
Post by rs on Aug 19, 2020 9:59:51 GMT
After reading this post, i started to discuss with C2F about refudning my investment in Plast**y Ltd. Not having much luck as C2F basically stating their auditor has checked and C2F due diligence on the loan followed FCA regulations and it's upto investors decision to invest. C2F ignoring that C2F did not follow their C2F checks as stated on their website. Good luck to anyone who invests in C2F but it's going to be a disaster as C2F will need some more injection of funds in 2021 after CBILS revenue stream ends. p2pindependentforum.com/post/360993/thread
|
|
zlb
Member of DD Central
Posts: 1,411
Likes: 331
|
Post by zlb on Aug 28, 2020 8:48:51 GMT
They still aren't doing well in their communications - recent email seems to convey no significant info?
|
|
zlb
Member of DD Central
Posts: 1,411
Likes: 331
|
Post by zlb on Oct 2, 2020 18:52:22 GMT
Notification on platform now. You can't see your existing portfolio for example.
In collaboration with the UK Government Crowd2Fund are opening an opportunity for you to co-invest with them to help secure the future of the British economy.
We are raising £10m of growth capital from existing platform investors with £5m potentially co-funded by the UK government Future Fund. These investment funds will be used to deliver our post Covid-19 Reboot Britain plan, which when delivered we hope will provide £277m of investment funds to 3,467 high growth businesses every year via Crowd2Fund. This is possible by leveraging the power of FinTech, connectivity and entrepreneurship.
£10m
Growth capital
£277m
Investment funds
3,467
High growth businesses
Easily invest your repayments, account balance or subscribe new funds to this opportunity. Click the button below to pledge your support and start earning 4.00% annual interest.
4.00% Annual Tax Free Interest
Potentially access your capital by selling on the exchange
Option to purchase discounted equity
The Exchange is temporarily closed however we hope to open it soon Access to your capital
The Exchange is currently disabled because we’re implementing improvements and we aim to re-open it soon. When the Exchange is reopened you can potentially access your capital invested by selling some or all of your Reboot Britain investment to another investor on the Exchange assuming market demand.
As part of our Reboot Britain campaign your investment will be 100% match funded by the HM Government Future Fund. You can also pledge your repayments to earn monthly interest of 4.00% per year paid monthly. You can cancel your pledge or any future repayments being pledged at any time.
Because this is a convertible note you’ll get the option to buy equity in Crowd2Fund at the next round — with a 20% discount and an additional 4.00% in interest paid in shares. Final terms are subject to sign-off from the British Business Bank Future Fund.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,788
Likes: 11,007
|
Post by ilmoro on Oct 2, 2020 19:56:35 GMT
Notification on platform now. You can't see your existing portfolio for example.
In collaboration with the UK Government Crowd2Fund are opening an opportunity for you to co-invest with them to help secure the future of the British economy. We are raising £10m of growth capital from existing platform investors with £5m potentially co-funded by the UK government Future Fund. These investment funds will be used to deliver our post Covid-19 Reboot Britain plan, which when delivered we hope will provide £277m of investment funds to 3,467 high growth businesses every year via Crowd2Fund. This is possible by leveraging the power of FinTech, connectivity and entrepreneurship. £10m Growth capital £277m Investment funds 3,467 High growth businesses Easily invest your repayments, account balance or subscribe new funds to this opportunity. Click the button below to pledge your support and start earning 4.00% annual interest. 4.00% Annual Tax Free Interest Potentially access your capital by selling on the exchange Option to purchase discounted equity The Exchange is temporarily closed however we hope to open it soon Access to your capital The Exchange is currently disabled because we’re implementing improvements and we aim to re-open it soon. When the Exchange is reopened you can potentially access your capital invested by selling some or all of your Reboot Britain investment to another investor on the Exchange assuming market demand. As part of our Reboot Britain campaign your investment will be 100% match funded by the HM Government Future Fund. You can also pledge your repayments to earn monthly interest of 4.00% per year paid monthly. You can cancel your pledge or any future repayments being pledged at any time. Because this is a convertible note you’ll get the option to buy equity in Crowd2Fund at the next round — with a 20% discount and an additional 4.00% in interest paid in shares. Final terms are subject to sign-off from the British Business Bank Future Fund. Doesnt make a lot of sense ... Future Fund requires a convertible paying at least 8% interest, payable after 36m. Not sure convertibles are tradeable. You dont get the option to buy equity, the loan note will automatically convert under the terms of the convertible, its not optional. This seems incredibly badly written and seems a lot of spin. Hard to determine if they are conflating two different products or havent read the FF rules.
|
|
macq
Member of DD Central
Posts: 1,923
Likes: 1,189
|
Post by macq on Oct 2, 2020 22:05:18 GMT
Did notice the new product when login at end of month to remove any repayments.Not really interested as now nearly down to the end of my investments but did notice the big heading which said earn 4% APR but the term sheet does say 8%APR (4%monthly and 4% on maturity) so a bit confusing.Other interesting points to me include that as c2f are the borrower if they are unable to repay any balance of loan it converts to c2f equity which i wonder about the value of at that point?.It looked a bit complicated to me and there were other points but as you need to sign in/up to see the term sheet - i would suggest a good slow read as its not your normally p2p loan or even a simple bond (and they need at least 5m to be matched by the BB bank to get their £10m)
|
|
macq
Member of DD Central
Posts: 1,923
Likes: 1,189
|
Post by macq on Oct 2, 2020 22:07:48 GMT
Notification on platform now. You can't see your existing portfolio for example.
In collaboration with the UK Government Crowd2Fund are opening an opportunity for you to co-invest with them to help secure the future of the British economy. We are raising £10m of growth capital from existing platform investors with £5m potentially co-funded by the UK government Future Fund. These investment funds will be used to deliver our post Covid-19 Reboot Britain plan, which when delivered we hope will provide £277m of investment funds to 3,467 high growth businesses every year via Crowd2Fund. This is possible by leveraging the power of FinTech, connectivity and entrepreneurship. £10m Growth capital £277m Investment funds 3,467 High growth businesses Easily invest your repayments, account balance or subscribe new funds to this opportunity. Click the button below to pledge your support and start earning 4.00% annual interest. 4.00% Annual Tax Free Interest Potentially access your capital by selling on the exchange Option to purchase discounted equity The Exchange is temporarily closed however we hope to open it soon Access to your capital The Exchange is currently disabled because we’re implementing improvements and we aim to re-open it soon. When the Exchange is reopened you can potentially access your capital invested by selling some or all of your Reboot Britain investment to another investor on the Exchange assuming market demand. As part of our Reboot Britain campaign your investment will be 100% match funded by the HM Government Future Fund. You can also pledge your repayments to earn monthly interest of 4.00% per year paid monthly. You can cancel your pledge or any future repayments being pledged at any time. Because this is a convertible note you’ll get the option to buy equity in Crowd2Fund at the next round — with a 20% discount and an additional 4.00% in interest paid in shares. Final terms are subject to sign-off from the British Business Bank Future Fund. Not sure if your bold is saying you can't see your account but just in case you are - you need to go through the faff of another KYC test first to get there
|
|
zlb
Member of DD Central
Posts: 1,411
Likes: 331
|
Post by zlb on Oct 3, 2020 9:43:00 GMT
Notification on platform now. You can't see your existing portfolio for example.
... Doesnt make a lot of sense ... Future Fund requires a convertible paying at least 8% interest, payable after 36m. Not sure convertibles are tradeable. You dont get the option to buy equity, the loan note will automatically convert under the terms of the convertible, its not optional. This seems incredibly badly written and seems a lot of spin. Hard to determine if they are conflating two different products or havent read the FF rules. conflation not clear, I agree. Also can't see product structure at all. It seems so badly described, I don't think I'd even trust a review site to explain the product risk.
|
|
zlb
Member of DD Central
Posts: 1,411
Likes: 331
|
Post by zlb on Oct 3, 2020 9:45:29 GMT
Did notice the new product when login at end of month to remove any repayments.Not really interested as now nearly down to the end of my investments but did notice the big heading which said earn 4% APR but the term sheet does say 8%APR (4%monthly and 4% on maturity) so a bit confusing.Other interesting points to me include that as c2f are the borrower if they are unable to repay any balance of loan it converts to c2f equity which i wonder about the value of at that point?.It looked a bit complicated to me and there were other points but as you need to sign in/up to see the term sheet - i would suggest a good slow read as its not your normally p2p loan or even a simple bond (and they need at least 5m to be matched by the BB bank to get their £10m) Only "a bit confusing"? The portfolio was eventually revealed by drop down - but click the link for it on main screen just keep loading the 'are you in?' page. I can say that I have no idea what this product is. If they want to roll my defaults into it, then they can feel free...although I'd like to keep the better performing loans for myself...
|
|
macq
Member of DD Central
Posts: 1,923
Likes: 1,189
|
Post by macq on Oct 3, 2020 10:38:55 GMT
Did notice the new product when login at end of month to remove any repayments.Not really interested as now nearly down to the end of my investments but did notice the big heading which said earn 4% APR but the term sheet does say 8%APR (4%monthly and 4% on maturity) so a bit confusing.Other interesting points to me include that as c2f are the borrower if they are unable to repay any balance of loan it converts to c2f equity which i wonder about the value of at that point?.It looked a bit complicated to me and there were other points but as you need to sign in/up to see the term sheet - i would suggest a good slow read as its not your normally p2p loan or even a simple bond (and they need at least 5m to be matched by the BB bank to get their £10m) Only "a bit confusing"? The portfolio was eventually revealed by drop down - but click the link for it on main screen just keep loading the 'are you in?' page. I can say that I have no idea what this product is. If they want to roll my defaults into it, then they can feel free...although I'd like to keep the better performing loans for myself... Only a bit confusing as i gave up before full confusion set in and i must admit i nearly put in my first post that i am not sure that its really a "retail" product for non experienced investors as for me the term sheet would raise some questions including what seems another equity raise and they are the borrower.To me a bond offered by the Govt/British Business Bank with the same matching of money as here but with the usual p2p risk would be fine but it does not seem to be what they are offering (might even be better) But as i am on the way out i will pass - but to be fair they have kept a few payments coming over the last few months unlike some (must admit i am surprised by the claim on the homepage of over 3800 businesses as it does not feel like it was that many?)
|
|
zlb
Member of DD Central
Posts: 1,411
Likes: 331
|
Post by zlb on Oct 3, 2020 10:45:42 GMT
macq - 3800 seems a bit implausible. Maybe that's the number of applicants they had....?! The complexity seems to dissuade retail - and their questionnaire is about their previous product not the non-understandable or spun current offer. If it's better than a gov bond, then why out?
|
|
macq
Member of DD Central
Posts: 1,923
Likes: 1,189
|
Post by macq on Oct 3, 2020 11:08:53 GMT
macq - 3800 seems a bit implausible. Maybe that's the number of applicants they had....?! The complexity seems to dissuade retail - and their questionnaire is about their previous product not the non-understandable or spun current offer. If it's better than a gov bond, then why out? Not sure applicants would/should count but it certainly seems a lot more then i can remember. Probably the way i said it as i meant its not as good as a bond offered by the govt to me.If c2f/govt were offering a straight bond with the same 50% matching of the Business Bank and 8% but with the usual loan risk of p2p i would be very interested. But when i see things like your lending to c2f as the borrower and they are borrowing £5m as i read it and talk of buying equity in them at the end and what happens if they can't pay back as the borrower (so to me that's before the sme might not be able to pay) plus the usual equity raise and invest and get a free coin etc etc it loses its appeal But that's only me as it could be a good product i am sure many will be interested
|
|
zlb
Member of DD Central
Posts: 1,411
Likes: 331
|
Post by zlb on Oct 6, 2020 23:29:04 GMT
macq - 3800 seems a bit implausible. Maybe that's the number of applicants they had....?! The complexity seems to dissuade retail - and their questionnaire is about their previous product not the non-understandable or spun current offer. If it's better than a gov bond, then why out? Not sure applicants would/should count but it certainly seems a lot more then i can remember. Probably the way i said it as i meant its not as good as a bond offered by the govt to me.If c2f/govt were offering a straight bond with the same 50% matching of the Business Bank and 8% but with the usual loan risk of p2p i would be very interested. But when i see things like your lending to c2f as the borrower and they are borrowing £5m as i read it and talk of buying equity in them at the end and what happens if they can't pay back as the borrower (so to me that's before the sme might not be able to pay) plus the usual equity raise and invest and get a free coin etc etc it loses its appeal But that's only me as it could be a good product i am sure many will be interested Not sure it's clear at all, but I agree, free coins etc, maybe it's that they are happy to dissuade retail in this way.
|
|
macq
Member of DD Central
Posts: 1,923
Likes: 1,189
|
Post by macq on Oct 7, 2020 9:21:04 GMT
Not sure applicants would/should count but it certainly seems a lot more then i can remember. Probably the way i said it as i meant its not as good as a bond offered by the govt to me.If c2f/govt were offering a straight bond with the same 50% matching of the Business Bank and 8% but with the usual loan risk of p2p i would be very interested. But when i see things like your lending to c2f as the borrower and they are borrowing £5m as i read it and talk of buying equity in them at the end and what happens if they can't pay back as the borrower (so to me that's before the sme might not be able to pay) plus the usual equity raise and invest and get a free coin etc etc it loses its appeal But that's only me as it could be a good product i am sure many will be interested Not sure it's clear at all, but I agree, free coins etc, maybe it's that they are happy to dissuade retail in this way. Not sure - they seem to market at retail with a low investment sum especially with this new product of "reboot Britain" but which seems a notch or Two up in complexity on the original p2p product and for what also now looks like a Black box product? Only an opinion and as i have all but left & probably not fair to comment on a skim of the t&c's and most of my p2p is going into a Green IT so hopefully i am still doing some good Also noted that the homepage says 3852 businesses but when clicking the see all statistics tab just below that info box it says 520 loans so something is amiss
|
|
zlb
Member of DD Central
Posts: 1,411
Likes: 331
|
Post by zlb on Oct 7, 2020 11:22:24 GMT
Not sure it's clear at all, but I agree, free coins etc, maybe it's that they are happy to dissuade retail in this way. Not sure - they seem to market at retail with a low investment sum especially with this new product of "reboot Britain" but which seems a notch or Two up in complexity on the original p2p product and for what also now looks like a Black box product? Only an opinion and as i have all but left & probably not fair to comment on a skim of the t&c's and most of my p2p is going into a Green IT so hopefully i am still doing some good Also noted that the homepage says 3852 businesses but when clicking the see all statistics tab just below that info box it says 520 loans so something is amiss I fully agree on the stats issue. Your '?' says it all doesn't it - if one can't even tell whether it is black box or not, nor whether they are rolling all previous loans into it. I find them a most bizarre company in terms of just not engaging with this issue of communications with investors, out of all of p2p. On another matter, Ly has been found to be remiss (recent P2p newsletter) in only refunding people for wrong practice, but those people having to sign a disclaimer, and the refunds only being available to retail investors who have that level of legislative knowledge to know that they can ask for their money back - ie not really retail investors. C3F have also refunded on some loans, yet not offered that refund to all investors in them.
|
|
macq
Member of DD Central
Posts: 1,923
Likes: 1,189
|
Post by macq on Oct 7, 2020 12:12:13 GMT
Not sure - they seem to market at retail with a low investment sum especially with this new product of "reboot Britain" but which seems a notch or Two up in complexity on the original p2p product and for what also now looks like a Black box product? Only an opinion and as i have all but left & probably not fair to comment on a skim of the t&c's and most of my p2p is going into a Green IT so hopefully i am still doing some good Also noted that the homepage says 3852 businesses but when clicking the see all statistics tab just below that info box it says 520 loans so something is amiss I fully agree on the stats issue. Your '?' says it all doesn't it - if one can't even tell whether it is black box or not, nor whether they are rolling all previous loans into it. I find them a most bizarre company in terms of just not engaging with this issue of communications with investors, out of all of p2p. On another matter, Ly has been found to be remiss (recent P2p newsletter) in only refunding people for wrong practice, but those people having to sign a disclaimer, and the refunds only being available to retail investors who have that level of legislative knowledge to know that they can ask for their money back - ie not really retail investors. C3F have also refunded on some loans, yet not offered that refund to all investors in them. I guess my use of Black box is not right really because the first loan of £5m is being borrowed by c2f to scale their business(with the govt future fund doubling it to £10m If they get £5m) so really its just a loan to C2F and with a sort of equity raise built in.And then if successful they will have other future fund businesses on the platform which i guess will be funded in the old way.But i am not sure i fancy the idea of a platform that has borrowed the govt money to expand the platform then offering loans from others who have borrowed from the same govt scheme on it If you go for it i will keep an eye out for updates
|
|