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Asset 1005

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Rentify file losses of just under £2m as they reach for more stars.

Rentify are one of Crowdcube's million plus club. £1.38m in 2016 to be precise. They were due to make heavy losses whilst they gained traction but it appears that subsequent funding has not materialised and now the company accounts show a deficit of £2.25m; up from £500k. 

Rentify are also backed by Crowdcube's big daddy, Balderton Capital. Helps to keep it in the family.

Rentify are not a million miles off their p&l forecast - well £300k isn't a lot on Crowdcube. The main problem seems to be the lack of investment. Projections show the company having over £12m in share capital by YE Dec17 but the accounts are over £3m short of that.

Why...

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Wednesday November 28, 2018

Hardman and Co’s Brian Moretta in conversation with ECF Buzz Founder Rob Murray Brown on start up investing, equity crowdfunding and what’s a good read.