Today is the last day before we go public with our crowdfunding. Since Wednesday we have been in private mode and so far 60 investors have invested around £140,000. We have promised today of a further £25,000 meaning that AgeWage will go to the crowd over 80% funded with a strong investor base.
This is unusual and a very good sign of things to come. Once we go live, we can fund for a total of 60 days, assuming we are as successful with the general public as we have been with those who know us, we could be a sensation.
But let’s not get ahead of ourselves. Raising money is one thing, delivering to our investors is another. We are working hard on what we can do and when. We don’t want to be another start up – full of promise – that spent the money without purpose and never delivered its social purpose or a return on its funder’s investment.
Moving into production – the next step
Currently our management team includes me , Chris Sier, Ritesh Singhania and Andy Walker. We intend to expand this team once we are certain of our finances so that we have the capacity to deliver. We will bring in new people with the skills in marketing to ensure our app has an awesome journey and we’ll build the modelling that people need to get to the financial decisions they need to take.
Our commercial team will build the relationships with partners to ensure we analyse millions of contribution histories and deliver the follow up to our app users.
And we’re going to invest heavily in people who can provide the support you need when you have questions.
Behind the scenes, our technology team in Bangalore will be coding our ideas into applications.
A message for larger investors
But there is never a day when we can afford to take our foot off the gas. Our message is “don’t delay – invest today”.
If you have several thousand to invest, ask me for our Investment Memorandum which allows you to invest directly onto the AgeWage share register. Today is the last day when we can receive your money without us having to pay a fee to Seedrs, so if you are thinking of investing a five figure sum, do it today.
A message for small investors
Our reason for crowdfunding is to broaden our investor base and have a wide number of champions for AgeWage. So every new investor is greeted with whoops and hollas in our WeWork office. If you want to get involved, we encourage you to!
Here is how Penny Cogher, a top pension lawyer who invested with us yesterday got in touch
I’m in…yhanks Henry. I think it’s an interesting idea and I’d be happy to get involved
A message to all investors – getting your money back!
We think for the long-term but we know that you are investing with a view to getting your money back!
As I’ve just pointed out, everyone gets 30% of their investment back once we’ve closed the round (probably the back end of May). You should also know that you can get more of your investment back if we don’t succeed. You can write off your initial investment against future tax bills if we fail. So only around half of your money is really “at risk”, that’s because you’re investing in an EIS.
But the other half of the money is at risk and at risk of growing very fast indeed. What happens once we close the round is we build out and get a proof of concept that will allow us to raise more money. While this money will dilute your shareholding, it will also mean your shares will be valued at a great deal more.
If we meet our financial projections, the target is that we create proper liquidity for you from three years out. Seedrs offers a secondary market in shares (a bit like betting in running if you know what I mean). But the really big returns will come from the sale of the business, either to a trade-buyer or to the management team. We could also float on the stock market.
Whatever your reason to invest – we hope you do!
We really don’t mind how little or how much, we want you as an investor! We’d love to have 100 investors by the end of today and we’d love to be 100% funded. These things are possible if you work hard for them and we’ve worked hard for AgeWage.
So press this link and get your money down – please!