Sunday, 13 September 2015

Crowdcube Due Diligence - Caught alseep on the job.

If you needed any more evidence that Crowdcube don't bother with due diligence -  here it is.

A new pitch on the site  - Rocksolid Life - claims in its opening remarks to be a company that has been going since 2013. If you then go to the Company page of the pitch it states that Rocksolid Life Ltd, reg # NI630400, was incorporated on 1st January 1970.

If you bother to check the contradictory information Crowdcube supply with Companies House, you will find that it is all wrong. Rocksolid Life Ltd - the company you are being asked to invest in, was incorporated in 2015. There is another Rocksolid Life (Eur) Ltd which was incorporated on 13 March 2012 and is owned by the same person as the owner of the Crowdcube pitch company - but this date doesn't feature in the Crowdcube shambles. In turn, this company is wholly owned by Aj Locum Solutions Ltd, founded in 2009.

So what we have here is a Government backed platform, who spend enormous sums on their own promotion claiming that they carry out thorough due diligence on the pitches they offer to punters - providing information that is total rubbish and has not a shred of truth about it. Can you trust Crowdcube  - simple answer is no.

The pitch business itself has little to recommend it and as it's almost impossible to know who you are investing in, will almost certainly complete its funding round as so many others have before it. When will people wake up.

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