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Don’t invest unless you’re prepared to lose all the money you invest. NextFin promotes high - risk investments and you are unlikely to be protected if something goes wrong.
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Technology

Coconut

Status: Funded

Jun 9th 2021 - Jul 23rd 2021

Capital at risk

Coconut automates bookkeeping and tax for sole traders. The company argues that in the next 24 months, 3.5 million sole traders in the UK will be required to complete 4 tax submissions a year instead of 1, in light of Her Majesty's Revenue and Customs (HMRC's) Making Tax Digital (MTD) initiative. Coconut aspires to become the leading sole trader finance and MTD product in the UK targeting the aforementioned audience. Coconut asserts that its total revenue grew by 174% in 2020 despite COVID-19. It also claims to have onboarded 8,000 paying customers, registered a 174% revenue growth in 2020, and signed 2,800 accountants on its portal to date. Coconut connects with over 25 banks, giving automatic tax insights using banking data based on the principles of 'Open Banking'. The company will use the investment to target 100 million+ self-employed businesses in Europe and North America and grow its business across different verticals.
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Crowdcube Technology EIS
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Coconut Rating Review

Pitch rating powered by CROWDRATING™

Rated on 15/07/2021

Pitch Rated

55%

Insufficient Data

Management

90%

Product

74%

Investment

UNRATED*

* Section unrated owing to insufficient or incomplete information available at the time of rating.

Log in to view amount pledged

    Log in to view target

    £18,003,459
    pre-money valuation

    10.03%
    equity available

    2,324
    investors

    £863
    pledge per investor

    09904418
    company number

    Active
    company status

    07/12/2015
    incorporated 8 years

    £0.02
    share price

What the ratings mean

  • 49% and under
    We suggest potential investors carry out further study of their own     50-64%
    Room for improvement     65-79%
    Worth considering     80%+
    Gold rating, our highest rating

RISK WARNING - The ratings are based on the information provided in the fund raiser’s pitch deck, business plans and financial forecasts which have appeared on a FCA regulated crowdfunding site. Where possible we validate the business plan to public sources such as LinkedIn, Companies House, Credit Agencies and internet searches. We cannot guarantee the information is correct. The ratings report takes no account of the investors/ individual circumstances. Do your own due diligence and get professional advice before investing. Your capital is at risk when investing in private companies.

See full risk warning
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Management 90%

Skills 91%
The 'Coconut' management team comprises skilled professionals whose published LinkedIn profiles include expertise in management, technology, sales, marketing and finance. They have an experienced team in place that consists of a Founder/CEO, Founder/CFO, CTO and Head of Marketing. The Founder/CEO is competent in management consulting, financial modelling, business analysis, mergers & acquisitions and business development. The Co-founder/CFO is proficient in entrepreneurship, information security, strategic planning, fintech, start-ups, and auditing. The CTO has operations management, scrum, agile project management, web development, python and perl skills. The Head of Marketing is skilled in account management, integrated marketing, consumer insight, brand management and project management.

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Funding progress

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Log in to view amount pledged

    Log in to view target

    £18,003,459
    pre-money valuation

    10.03%
    equity available

    2,324
    investors

    £863
    pledge per investor

    09904418
    company number

    Active
    company status

    07/12/2015
    incorporated 8 years

    £0.02
    share price

  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

As seen in:

  • The Guardian
  • Financial Times
  • Yahoo! Finance
  • The Times
  • The Daily Telegraph

Risk Warning - Summary

Don’t invest unless you’re prepared to lose all the money you invest. NextFin promotes high - risk investments and you are unlikely to be protected if something goes wrong.

Take 2 minutes to learn more.

Investing in equity and debt crowdfunding involves high risks, which may include long-term investment horizons, illiquidity, lack of income, defaulted loans and potential dilution. Any investor needs to be in the position to afford a total loss of capital invested. Investments that are made via Peer to Peer platforms should not be considered deposits like a bank. Your capital is at risk and is not covered by the Financial Service Compensation Scheme (FSCS).

NextFin is targeted at members who have the knowledge and experience to understand these risks and make their own investment decisions. You will NOT invest through NextFin but through the relevant crowdfunding website which also has signed off the content as a Financial Promotion on its own website. NextFin is not the originator of the financial promotions that appear on its site. However we do to the best of our ability carry out limited compliance checks on the originator and the company seeking funding to seek to ensure they are conforming to FCA regulations and anti-money laundering equity/requirements as appropriate. Business Agent Limited, trading as NextFin, takes no responsibility for this information or for any recommendations or opinions made by the companies or its users.

The pitch rating report prepared by CrowdRating and published on NextFin.co.uk does not constitute a personal recommendation, offer or solicitation to buy or sell investments. The pitch rating report should be used as part of your own research to assess whether or not you should make an investment, but only as a single factor and not as a definitive source. If you require advice based on your personal circumstances or are in any doubt about investing, you should obtain advice from an appropriately qualified independent professional. Pitch rating reports are based on publicly available information, including information provided by the investment issuer. CrowdRating assesses that third party information without verifying its accuracy and does not make any representation or warranty as to the accuracy of the information on which it bases its assessments. CrowdRating’s responsibility for their contents is set out in the CrowdRating Terms and Conditions. Business Agent has not prepared or reviewed the contents of the pitch rating reports and is not responsible to you for their contents. Nothing in this Summary shall limit or exclude any liability CrowdRating owes to you under the UK regulatory system. The information and opinions are provided as at the date of the report and are subject to change without notice.

Capital invested in crowdfunding projects is at risk and you may lose some or all of your investment and/or find it difficult to sell. If the investment issuer defaults on its obligations to you, you will not be entitled to compensation from the Financial Services Compensation Scheme. You should only invest in illiquid securities as part of a diversified investment portfolio. Neither CrowdRating nor Business Agent offers personal recommendations on whether investments are suitable for you in light of your investment objectives and financial circumstances.

Click here for our full risk warning.

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