Arro Money Discussion

I’m not sure.

I do suspect they are massively overvaluing their market and the revenue they can generate.

They’re trying to state they offer a bank in the box as well, which allows other people to use their FCA license…that doesn’t sound feasible or credible at all?

They’re also banking on being able to passport across the EU to other countries, but I pointed out that Barnier has said that isn’t exactly a certainty.

I think it’s an incredibly risky investment and if they get funded I will be amazed. Especially when you look at the proposition of Hyper Sciences and even Serious Pig to a degree, currently raising on the platform.

I feel like I’m being a troll as I appear on every thread disagreeing with them, but people have to know Crowdcube’s due diligence is notoriously lacklustre and these guys are an incredibly high risk, overvalued company that are purposefully obfuscating facts on their pitch and are generally not a very well thought out idea!

They’re charging for faster payments?! and direct debits ?!?!? :exploding_head:

They’ll probably charge you for breathing whilst the app is open.

It honestly reads like that. The charges are absurd and there was some wierd stuff on companies house as well. As they are owned by Marq millions LTD. but there was a former company Marq millions (UK) limited which was dissolved so I have no idea whats going on

Arro still well short of their funding target on Crowdcube with 14 days to go (imo that’s a good thing) and have revised their value knocking around a third off their price, which imo still leaves them massively overvalued.

Some really dodgy stuff in the pitch, including a link up with a new bank that are ‘using’ Arro Money’s FCA license… I’m not sure if I’d allow that as a regulator.

They also claimed Forbes was reporting on them but that turned out to be a bit of paid PR via the Forbes contribution mechanism.

So I’m convinced this has gone just about as badly as a raise can do, has anyone stuck a few quid in? What enticed you to do so?


I’ve just been reading their business plan

At the bottom they speak about exit strategies and three options

Takeover bid

Can’t say I’m overly impressed…

As a customer of Arro, I would say to stay well away from them.

They closed my account, without warning, on Nov 1st 2018. It had just over £3600 in it which was to be used to pay that months rent and bills (funded by my wages and my partners contribution to the bills from her Halifax account).

19 weeks later and I have still not received that money back. I borrowed money to cover bills as they wouldn’t return my money and now experiencing a huge amount of stress and sleepless nights trying to pay this back.

They won’t discuss it over the phone and when you send an email to their customer services it is simply ignored (as are emails direct to the directors of Marq Millions).

Have you complained to whoever supplies their licenses?

It might be the only way to force their hands.

Just read your post and supported you on Crowdcube.

Their raise is dead as far as I’m concerned. You’ll notice I have questioned their conduct on a number of occasions before your post.

Outside of this, I notice they have extended their raise by another 15 days. I sincerely hope you get your money before they fail the extended raise date, as I believe (and frankly hope) this could be the beggining of the end for them and their exploitative business practices.

Thanks so much for that, I really appreciate it.

They’ve really shown themselves with the poor customer service. In the industry they’re in having such a poor reputation at such an early stage is going to be a killer for them.

Approaching the problems head on and being seen as proactively fixing them would have gone some way to restoring faith but they’ve gone down the route of trying to silence critics instead.

I just had another read of their discussions to see how they were getting on. I found this:

Street Level Verification is a unique fusion of both technology and conventional letter verification. At the time of the onboarding, if we failed to verify customer’s address digitally, instead of rejecting the application, we generate a street-level verification letter which carries a unique code that the customer can, in turn, use it on a specific website enabling is to verify his/her address.

So, their ‘Street Level Verification technology’, which is several times described as their USP, is actually a letter sent in the post :rofl:


Surely that is open to fraud.
Just have access to a communal post part of an apartment building :thinking:

Arro struggling aren’t they?

Read the discussions. I think the pitch is dead.

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Ouch. Didn’t even notice them :joy:

I see their Crowdcube page has disappeared.

I’m still no closer to seeing them return my money. 11th March they said they’d returned it, not a penny has been.

@Craigs is there any movement on this? They pulled their campaign. Any closer to getting your money back? Can I help in any way?

While later to the party my two cents…

The pitch and the founders just didn’t seem trustworthy enough to hand them money. I would not invest in another fintech bank that does not have the team nor the product to deliver.

I’ve collated all the dodgy Crowdcube business, trustpliot, good reviews and a few anecdotes from twitter users who have been messed around by these guys and sent it across to the FCA. You wouldn’t believe some of the issues people have been having.

Uh oh, doesn’t sound good. Without trawling through, care to give us a flavour?