Tagged: bankruptcy

Plastc Credit Card Replacement Tech Shuts Down, Considers Bankruptcy Filing

Another credit card replacement company has died. Plastc, a company that raised more than $5 million in 2014 on a presales campaign, posted a backers update stating the company has exhausted all of its options to raise funding it needs to continue. Plastc said it… Read More

Tout Perdu: First Big Loss Hits French Real Estate Crowdfunding Sector

While real estate crowdfunding holds much promise, risk remains. France, home of multiple real estate crowdfunding platforms, has just experienced its first big loss. According to a report in Capital, real estate developer Terlat has used two crowdfunding platforms to finance projects. Terlat has leveraged… Read More

Crowdcube Addresses Failure of Rebus. Explains 90% of Applying Firms are Denied from Raising Capital on Their Site

In response to Rebus being called the “biggest UK crowdfunding failure to date,” Crowdcube addressed the company’s failure on Friday. Back in February, Rebus, a company that raised over£816,790 on Crowdcube in 2015, announced that it was filing for bankruptcy.  According to data provided by Crowdcube, the company… Read More

Rebus Called Biggest UK Crowdfunding Failure to Date as Firm Files for Bankruptcy

Rebus, a company that raised over £816,790 on Crowdcube in 2015, has gone into administration making it one of the largest equity crowdfunding failures in the UK to date.  According to data provided by Crowdcube, the company sold a 6.63% stake in the firm to 109… Read More

TrustBuddy Bankruptcy: Lenders to Pay 25% on Recovered Claims

TrustBuddy, a publicly traded peer to peer lending platform, filed for bankruptcy in October of 2015.  This event occurred soon after it was revealed that management had uncovered “suspected misconduct” regarding the operations of the firm. Once the announcement of financial irregularities hit, it was… Read More

Transparency Counts: SyndicateRoom Talks About First Funded Company Failure

SyndicateRoom, one of the leading equity crowdfunding platforms in the UK, has revealed it has experienced its first company failure.  Soshi Games, which raised £285,000 in January 2014, recently entered into the liquidation process as the company has filed for bankruptcy. Investing in early stage companies… Read More

Lavaboom Encrypted Email Website Files For Bankruptcy Following Indiegogo Failure

Nearly two months after its failed attempt to raise $100,000 on Indiegogo, German encrypted email startup, Lavaboom, announced that it is shutting down and has filed for bankruptcy. According to TechCrunch, CEO and co-founder Felix Müller-Irion admitted that Lavaboom intends to continue running its services until next… Read More

Creators of Kickstarter Project “Woolfe – The Red Hood Diaries” Announces Bankruptcy; Cancels Backer Rewards

Last summer, Belgium-based GRIN Gamestudio took to Kickstarter to raise funds for its video game, Woolfe- The Red Hood Diaries. Woolfe- The Red Hood Diaries is described as a twisted fable in a rich, fantasy setting of smoke-spewing factories and evil forests. It is considered an action-platforming fairy… Read More

Is SOAP Another Scampaign? Questions Persist as to Projects Viability

  Last year, We shared some details about the Kickstarter- crowdfunding success SOAP Rablet, the all-in-on home automation router. The device was described as 2 GB/S WiFi 802.11AC, BLE, Zigbee, Zwave, Insteon, RFID/NFC, Home Media Server, Your Own Cloud and Domain.  Kind of a swiss army knife of… Read More

goodz Raised Capital this Past May, Files for Insolvency

Highlighting the risk of investing in startups, goodz GmbH, a Berlin based company that did an equity crowdfunding round this past Spring, has filed for bankruptcy. goodz was an “e-boutique”, launched in February 2014, that featured cutting edge products in a curated e-commerce platform that… Read More

How A Rhode Island Town Used Crowdfunding For A Public Works Project

Central Falls, Rhode Island Director of Economic Development Shares Insights For Other Cities Looking To Crowdfund Public Projects In the wake of the financial crisis, budgets at all levels of government have tightened. Words like “sequester” are now a part of our common, everyday lexicon…. Read More

Central Falls, Rhode Island Takes To Citizinvestor To Bootstrap Public Works Project

Central Falls, Rhode Island is “the smallest city in the smallest state” in the United States, but it is a densely populated city; it’s comprised of nearly 20,000 residents in an area of about one square mile. Central Falls fell on hard times in the… Read More