Tuesday, 11 July 2017

Fourex outperforms its Crowdcube projections by £8m

Fourex operate money conversion machines. It seems they may have forgotten how to count. 

Fourex raised £670k on Crowdcube 2 years ago.

In light of the fact that Jeff Paterson, a cofounder of Fourex, sadly died of cancer recently we have removed this article. RIP


  1. Sadly the founder has passed away.

    Unfortunately that doesn't mean they have become any better in forecasting. In an interview with bq live from 19/12/16 their COO says: 'we have grown at a rate that even amazes us... We'll have 15 kiosks by the end of this month and 35 by the end of February'.

    Yet even now more than half a year later they're in only 9 locations.

    How much can go wrong in 12 days?

  2. Outperforms? Sounds like "Underperforms" is a better word :)

  3. ah well you see, you like a few others who have contacted me, have not seen the joke. Lame I admit but got bored of just pumping out negative headlines

  4. The company has experienced bad fortune that I can't even imagine how difficult it was to come through.

    Having a founder diagnosed with terminal cancer and sadly passing away in an industry that likely relies on strong long term relationships, the new management team would likely have had to restart some relationships.

    Business is hard enough without these extra hurdles.

    Like most businesses, there are ups and downs but you can be sure that they are trying their hardest to increase the value for all shareholders.

    As a young private company, missing targets or changing focus is hardly anything new.

  5. Trying to increase shareholder value? Their first action was to stop all shareholder updates, the renewed management doesn't seem to care about the crowd at all.