And that crowdfunding video they put out… there was practically no information in it whatsoever, not even an appearance from someone who works at Citymapper
I’ve emailed CrowdCube this morning, expressing concern that they allow this behaviour from companies seeking to crowdfund on their platform, and asking them to make it a rule in future that companies publish their prospectus at least a few days before the crowdfunding round begins.
The current situation reflects poorly on Citymapper, and even worse on CrowdCube, who ought to know better, and should be protecting their investors from such practices.
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I was searching for exactly the same this morning and was pretty shocked to see there doesn’t seem to be anything out there.
The closest I’ve got is last year’s accounts from Companies House which aren’t in the slightest bit helpful - they file abridged accounts so don’t even have a Profit and Loss available 
I was initially interested in this as I really like them as a company / app and can see the potential there but a few bullet points on a website doesn’t cut it for me for what is a serious round of funding.
I’m sure much more sophisticated financials, business plans, etc. would have been available for the institutional investors in earlier rounds - what makes this any different?
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I would be interested in what CrowdCube say.
I don’t like this method of pressuring potential investors either.
CrowdCube’s excuse seems to be that they give investors a period to cancel their investment so they can review the documents after pledging - but it does seem that they play on the fear of missing out - on both the shares and EIS eligibility.
I’ve seen firms (including Monzo) who reach their fundraising targets before the company even shares their documents with you.
However, I consider it unethical.
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So I’ve just had a look at the info.
It’s a marketing deck. No figures.
Yet they’re into overfunding already.
This isn’t what crowdfunding should be used for.
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I’ve adapted the contents of my letter and posted them into the Q&A section of the Citymapper investment round on CrowdCube. It seems to be attracting comments from quite a few others, who appear to have had similar thoughts.
It’s called: Why couldn’t you share the investment prospectus earlier?
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Hi all,
Citymapper’s cooling off period ends today (i.e. deadline for cancelling/amending investments is midnight tonight) so I just wanted to share my research post on their campaign here, hope that’s alright:
Many thanks!
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Would be interested if you did something similar for Curve
Thanks for sharing this, it’s an excellent read!
I’ll definitely read back to some of your previous posts.
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