Crowdcube

And if you look at it through a different lens, there's a way to not break the regulation, but achieve what we want to achieve.

And GoHenry set some records on Crowdcube, right, previously.

Why did you go down the crowdfunding route and what did that do for you guys beyond just the capital raise?

Do you know what? Really simple answer to that.

Luke Lang, the founder of Crowdcube or one of the co-founders of Crowdcube, approached us.

We were just preparing to start to talk to VCs and Crowdcube approached us and said, you look like the perfect company to launch on our platform because I think at the time we had round about 50,000 paying customers and Um, we had a very clear kind of emotional pull for what we were doing, making every kid smart with money, teach your children to be confident with money.

Um, and so at the time our decision was, well, nothing to lose.

Let's give it a go.

I was like, this is pointless.

How did you do that then? It was through Crowdcube.

Yeah, yeah.

I really liked the app.

So first, you've got to pick a platform.

In the UK, there are two big ones, Crowdcube and Republic Europe that used to be called Cedars.

Signing up is free.

It's pretty straightforward.

Um, but obviously they went further down the payments track, which has been incredibly successful.

Um, for me, I wanted to stay close to venture, ended up at a platform called Crowdcube in the UK building our secondary market.

Okay.

And, and so Crowdcube, uh, kind of a platform for, I guess, retail investors to get into secondaries? Is that, uh, venture secondary specifically, right?

Yeah.

I think, I think primarily it, it began as a crowdfunding platform, um, with retail investors and then has grown its, uh, its book of investors up, up the stack a little bit as well.

Yep

...

Has, has Network Rail pulled out for once? That'd be exciting, wouldn't it? Ads are really profitable now, right? Um, John T.

also f- further explains, uh, that it should be noted that earlier this year, what3words ran a Crowdcube funder that was inexplicably closed early, raising only one and a half million.

Perhaps due to existing Crowdcube investors nearly rioting because the documents explicitly stated they were raising money so their early VC investors could cash out.

[laughs] So I just, I'll lay it out.

So that means that the people who originally invested in what3words want to get out of there, so they were doing a Crowdcube round to basically turn those new investors into the exit liquidity for the original investors.

That's just a business that is definitely going to exist next year.

Wop, wop.