Clear Books seeks crowdfunding for stakes

The founder of a web-based support service for accountants is attempting to persuade his clients of the value of crowdfunding by offering them the means to buy a stake in his business. Tim Fouracre, founder of Clear Books, is confident of success having already received thousands of pledges from his customers amounting to a capital injection of almost £2m after seeking expressions of interest. He is now formalising this process by publishing a share offer document with a target total of £840,000 to expand his small team of development and marketing staff in west London and introduce various services for his clients. If successful, Mr Fouracre plans to spend part of the money on developing a crowdfunding toolkit that will then be offered as a service to his customer base so that they can raise money for themselves through share issues. Mr Fouracre believes that he has crafted the proposal in such a way that it will be even cheaper for him to raise the money than if he had gone through one of the existing crowdfunding platforms. Users of these platforms can be hit with fees of 6 to 7 per cent of the funds raised, Mr Fouracre notes. […]

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