Why are we raising on Crowdcube?
Crowdcube offers Gruvi a way to get the small amount of funding we need quickly (60 days) and easily, relative to talking to institutional Venture Capitalists (365 days).
The Gruvi pitch
The online Pitch explains our business, the opportunity and what we aim to achieve with the investment. The Pitch will include 2 key numbers:
- The Target Amount: £120,000 – this is the total amount of money we wish to raise and invest in the business
- The Equity Offered: 10% – this is the percentage share of the business we are offering in return for raising the Target Amount
We then promote our Pitch to potential Investors. Investors then invest money in the Pitch and over 30 days, investments accumulate until the Target Amount is reached.
How do I register as an investor and set up an account?
To set up an account, click ‘Join’. The link is found in the top right hand corner of the crowd cube website:
Then enter your email address, username and password. Usernames have to be between 4 and 12 alphanumeric characters with no hyphens, dots or underscores. You will then be asked to complete a short questionnaire that assesses whether you fully understand the high-risk nature of investing in start-ups and early stage businesses, or whether you can self-certify as a High-Net-Worth Individual or ‘Sophisticated Investor’.
How do I invest?
Once you have opened and read through our Pitch, simply enter the amount of money you wish to invest in the box that says ‘Enter Amount’ and click on the ‘Invest Now’ button.
If our pitch reaches its target you will be emailed a copy of the adopted Articles of Association and given seven working days to review them. During this period you can ask any questions that you may have and edit or withdraw your investment if you wish.
You can pay for the investment using either of the services below:
- Stripe – using your debit or credit card, or
- GoCardless – which uses a single direct debit transaction from UK current accounts.
You just need to complete the online form and the money will be taken ‘only’ upon the Pitch hitting its Target Amount and the completion of legal paperwork and documentation. If the Pitch doesn’t reach its Target Amount then no money is taken.
Can I pay by cheque or bank transfer?
Crowd Cube is not authorised to hold client money and therefore cannot accept cheques or bank transfers.
UK investors can qualify for UK tax relief under the Enterprise Investment Scheme (EIS). We are updating our current EIS status and will have this shortly.
Becoming a Gruvi Shareholder
If you successfully invest in Gruvi you will become a legal shareholder. You will be sent a Share Certificate and appear on the Gruvi’s share register at Companies House. The amount that you invest and the equity that the company is issuing in exchange for investment will affect your percentage ownership of the business.
For further guidance and information about investing through Crowdcube please visit the following links: