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Post by Ace on Mar 15, 2021 19:17:01 GMT
Loanpad are currently funding on Seedrs. I'm in and considering adding more. It seems to me to be a business that could scale quickly and be profitable. They've performed faultlessly so far IMO. Any other thoughts or opinions?
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Mar 15, 2021 19:30:13 GMT
Tempted
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 15, 2021 19:35:36 GMT
Loanpad are currently funding on Seedrs. I'm in and considering adding more. It seems to me to be a business that could scale quickly and be profitable. They've performed faultlessly so far IMO. Any other thoughts or opinions? Valuation looks somewhat toppy compared to other platforms who have raised but havent read the pitch deck yet.
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Post by Ace on Mar 15, 2021 19:42:22 GMT
Loanpad are currently funding on Seedrs. I'm in and considering adding more. It seems to me to be a business that could scale quickly and be profitable. They've performed faultlessly so far IMO. Any other thoughts or opinions? Valuation looks somewhat toppy compared to other platforms who have raised but havent read the pitch deck yet. I agree, but these businesses are notoriously tricky to value. If the forecasts were anywhere near achieved it could soon look reasonable, but that's a massive "if".
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Post by stevepn on Mar 16, 2021 15:29:25 GMT
After reading the risk warning I decided not to invest. Loanpad at the moment is the only P2P I feel confident with but seedrs I know nothing about.
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Post by Ace on Mar 16, 2021 15:51:04 GMT
After reading the risk warning I decided not to invest. Loanpad at the moment is the only P2P I feel confident with but seedrs I know nothing about. Which particular risk warning are you referring to stevepn?
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rocky1
Member of DD Central
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Post by rocky1 on Mar 16, 2021 16:38:07 GMT
maybe companies house reading.will probably be looking for funding themselves soon.losses of millions the past few years and highest paid director still draws over £200k for 2019.more chance of them going under than loanpad or many of their other clients.
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Post by honeybadger on Mar 16, 2021 16:56:59 GMT
I might be wrong re timing but I think that Seedrs and Crowd Cube are merging, and from what I've read 2020 has been a good year for Seedrs. This is in no way an endorsement.
I am in on Loanpad too Ace, nothing too crazy, but it's just that sort of business a building society/money manager or similar could take out and section if they actually want to operate like it's 2021.
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Post by stevepn on Mar 16, 2021 18:49:17 GMT
After reading the risk warning I decided not to invest. Loanpad at the moment is the only P2P I feel confident with but seedrs I know nothing about. Which particular risk warning are you referring to stevepn ? It was on signing up and giving the type of investor you were. One particular risk was most start up fail another was if it fails you lose everything not just part, then you might not be able to trade the shares. The risks seem to me far to great for the rewards.
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Post by Ace on Mar 16, 2021 19:20:52 GMT
Which particular risk warning are you referring to stevepn ? It was on signing up and giving the type of investor you were. One particular risk was most start up fail another was if it fails you lose everything not just part, then you might not be able to trade the shares. The risks seem to me far to great for the rewards. Ah, OK. Yes, if the company fails your shares are worthless and you would likely get nothing back from the administration. However, since its eligible for EIS you would have been able to reduced your income tax by 30% of your investment, and could offset any actual losses against income for tax purposes (i.e. reduce your income by the other 70% of your investment in the year of loss). So, a higher rate taxpayer would reduce their tax by 40% 0f 70% of their investment (i.e. 28% of the original investment), leaving an actual loss of 42% of the investment. As well as the 30% income relief, any gains would be free from capital gains tax and inheritance tax (Ts and Cs apply). Sorry that sounds complicated! probably best to google EIS tax benefits.
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Post by stevepn on Mar 16, 2021 21:38:26 GMT
I might be having second thoughts.
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Post by Ton ⓉⓞⓃ on Mar 16, 2021 22:01:33 GMT
Is this pitch in "closed session" right now? I can't find it. I'm considering putting a toe in
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 16, 2021 22:17:33 GMT
Is this pitch in "closed session" right now? I can't find it. I'm considering putting a toe in
Yes, non public, only viewable to those who signed up for advanced access
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mrk
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Post by mrk on Mar 16, 2021 22:21:35 GMT
Is this pitch in "closed session" right now? I can't find it. I'm considering putting a toe in
It's unlisted, but visible at seedrs.com/loanpad. I'm still undecided.
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Post by wiseclerk on Mar 17, 2021 8:33:13 GMT
Not judging the business model or the preformance of Loanpad - but the first thing that caught my eye is the valuation which is really ambitious. I often look at valuations of p2p lending companies and this one is very high in my opinion.
Compare it for example to Landbay (valued at 55.4M GBP*) or Assetz Capital (valued at 59.5M GBP*). So Loanpad valued itself at roughly one-third of these. But there is a much bigger difference on where they stand when I compare loan volumes originated. *Bear in mind that valuations are not scientific appraisals, but just the last price-point at which the company raised funds.
Maybe they took TheHouseCrowd (valued at 28.9M in Sep. 2019) or British Pearl (valued at 22.8M in Nov. 2019) as antetype.
Loanpad's reasoning on their valuation is on pages 26 and 27 of their pitch deck.
I will pass on this pitch.
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