WeSwap crowd-funding share ownership?

[d000hg]

Anyone else got an email about this? Presumably this is not an IPO and they aren't on the stock exchange - has anyone looked into it yet?

https://www.weswap.com/en/invest/

[scooterscot]

The first word I read there was wife-swap.

[missinggreenfields]

I got the email, looks interesting. Will see what the details say when they come out on October 21st.

I already have a seedrs account so I may as well look at the details and see whether it's worth a punt.

[missinggreenfields]

I wouldn't even click the link ... Of course its dodgy.

So without knowing anything about it, you know that it's dodgy. Care to give any more details on why it's not worth considering investing in the business?

[d000hg]

I wouldn't even click the link ... Of course its dodgy.

They're a real, reputable company. The question is how a "crowd sourced" share issue works, or what it is, not if WeSwap is a good investment. I never heard of this being done and I want to know what exactly you'd be buying - some shares but not through an exchange? How would you sell them, or would you not sell them but get profit sharing like some form of CoOp?

[DaveB]

Looks like a pretty good idea to be fair.

Cut out the commercial exchange providers, give both sides of the deal a better rate while still being able to make money on it.

Looks well funded and resourced.

Rates not the best but better than most atm. £500 gets you $603.54

John Lewis will get you £605.7

[missinggreenfields]

Looks like a pretty good idea to be fair.

Cut out the commercial exchange providers, give both sides of the deal a better rate while still being able to make money on it.

Looks well funded and resourced.

Rates not the best but better than most atm. £500 gets you $603.54

John Lewis will get you £605.7

Depends how quickly you want it - immediate swap has a 1.4% charge, 3 days 1.3% 7 days 0% - so £500 today gets $609.85 in 7 days at the moment. But that's what Revolut gives you immediately.

[d000hg]

IIRC if you recommend friends you get lifetime bonuses on the cheaper rates faster or something. But it seems a good service.

However can we focus on what a crowd-sourced share-issue means?

[northernladuk]

Rates not the best but better than most atm. £500 gets you $603.54

John Lewis will get you £605.7

I bet you don't

[DaveB]

IIRC if you recommend friends you get lifetime bonuses on the cheaper rates faster or something. But it seems a good service.

However can we focus on what a crowd-sourced share-issue means?

They are using Seedr, basically it allows smaller businesses to run an IPO and offer shares to the public without the overheads of having to deal with all the legal and regulatory compliance involved. Seedr does all the heavy lifting for you, for a set fee based on the funds you want to raise. Investors use the Seedr site to find business they want to invest in without going through a conventional broker or the stock markets. You still end up as a shareholder once the investment round closes, just as you would with any other investment.

Free Agent was funded this way.

https://www.seedrs.com/raise