Loot Finance - gone into administration

Article here providing details - big surprise as they were just about to launch a big Crowdfunding round and had put a lot into advertising this - website or twitter doesnt say anything about them closing which is terrible for anyone that doesnt do research…

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As sad as this is would be a great time to get into the student market with 250k students going to be looking for a new banking home!

Very sad. Quite a bland email from their team.

A friend of a friend works there so I’ve got the message for him to take a look at both Dozens and the FinTech I work at currently.

Some good talent there to be snapped up (I am not being opportunistic about someone else’s misfortune though).

The best thing to reflect on though are the protection of monies due to their regulatory stance. However it can make business tough going when you have to rely on investment alone and no transactional income.

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Sad to hear - I didn’t use them but I liked the fact they had a web platform and not just an app. It’s odd - like the TechCrunch article says - that RBS owned 25% and could have bought the rest to speed up their own digital bank.

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