Once you’ve hit your target we’ll close your pitch and begin the completions process. This usually takes up to a month to complete and will include the following;
To speed up the completion of your round, we’ll send you a due diligence questionnaire to complete when you reach 75% funded. Our legal team will then work with you to finalise the Legal Review documents, which are sent to investors in a cooling-off email. This is similar to a Subscription Agreement. You can see the sort of post-funding due diligence we do in our Due Diligence Charter.
Anti Money Laundering checks
We conduct in-depth Anti-Money Laundering checks on every investor and each company’s key personnel to ensure all parties are protected.
Cooling off period
When you have fully funded we will send the Legal Review and your Articles of Association to investors for review. They typically have a 7-day cooling-off period to consider their investment after which it becomes legally binding.
Approvals and completion formalities
We’ll provide draft board minutes and special resolutions for you to circulate to shareholders. You can use these or work with your own solicitors to put these in place.
We collect payments through our payment provider Stripe and update you with progress to ensure any failed payments are resolved as quickly as possible. Once a payment deadline has been agreed, and all completion conditions are satisfied, we will release the funds to you. On average you will have the funds in your account 10 days after we start collecting payments.
We will calculate the final number of shares to be issued to investors and send share documentation to investors electronically. We will also prepare your Companies House filings, so all you have to do is send them to Companies House.