Waterbabies The Musical easily surpasses Crowdcube's Rebus debacle
Following the demise of Rebus recently, most papers reported that the loss to Crowdcube investors at around the £800k mark, was the largest loss in the short history of equity crowdfunding. As we pointed out at the time, this was incorrect.
Waterbabies raised £1m on Crowdcube, according to the platform. There has been some debate as to whether they did in fact raise all £1m, but Crowdcube claimed they did.
The liquidation has rumbled on but has now completed its final meeting and the company will be dissolved in two months time. Total debts £1.25m Some way better than Rebus.
The only winner here has been the liquidator, emptying the bank account of the company's only asset, its £12,000 in cash.