So Trillion Fund has called it a day. The £600,000 Seedrs funded, Julia Groves backed, Efund never took off - it never even made it to the runway.
The fund started life as a P2P lender for the environmental sector. It switched to be a SAAS operator; which also proved a flop.
The claim is that the business is being sold. As there is little or nothing to sell, what this means is the business has folded; taking all of the Seedrs investors' cash with it. Vivienne Westwood owned 40% but then she can afford to throw it away.
One of their assets on sale is apparently the FCA license they have. Really?!! Can you really sell on FCA licenses?
Onward they cried.
the irony of this is that the gobby groves makes no mention of the demise of the platform she ran whilst, and still chairing the UK Crowdfunding Association. And the fact that Trillion were lead investor cheerleader for 'Secured Energy Bonds' by Australian CBD Energy which went bust taking all the investors money never gets a mention. A closer look at the things they said they funded will also reveal a few truths - they didn't fund as half as much as they claimed. They were unlucky that the wind turbine projects they put together suffered from the manufacturer recently going into administration - we'll see how 'ring fenced' and 'secure' the project legal paperwork stands the test of time.
ReplyDelete'Tulipomania' they cried..
I've met Gobby Groves and I wasn't very happy that she was Trillion funds CEO.
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