The Dozens Bonds are Back!

We’re very excited to let you know that Dozens’ 5% p.a. Fixed Interest Bonds are back and open for bidding.

We are starting with a £100,000 issuance this month and will then offer a bumper £1,000,000 next month. The deadline for your bids is Monday, 23 September 2019, and if your bid is successful, your bonds will be issued on 1 October 2019.

Make sure you’ve updated to the latest version of the Dozens app (1.6.5+) to have all the latest features and updates!

Head to the Grow section of the app to find the current offer when you click ‘Add bonds’ (then under Future Bonds).

If you have any questions about how the bidding process works, don’t forget to read about the listed bonds here, and if you still have questions, post it here in the community where we will do our best to answer them for everyone.

Don’t forget to read the legal details too:

The bonds are not FCA regulated products, and FSCS protection does not cover the bonds themselves. The interest offered by our fixed interest bonds, in the Grow section of the app, will not fluctuate even in different market conditions. However we understand that you will still need to be comfortable that as a new company, Dozens will be able to meet its financial commitments. Because of this, and to help build your trust in us we will place all of your money to be invested plus the full 12-months interest, in a separate trustee-controlled account on your behalf. This would be used to pay you in the event of any default on our part. The bond programme currently has a maximum limit of £7m, with expected issuance volumes of between £100k-£1m a month.

We are not a bank. We are authorised by the Financial Conduct Authority (FCA) as an e-money institution (FRN 900894) and also as an investment firm (FRN 814281)

12 Likes

You weren’t joking @robert when you said to me over at Fintech Talk that all things :dozens: would get a lot busier very soon, were you?! First the Visa announcement, now this! Great news all round! :grinning::+1:

2 Likes

I’m getting Ooops! Something went wrong when trying to access the bonds page.

When it loads the your bonds in blank, the add bond isn’t clickable.

1 Like

I can’t click the Add Bonds button :tired_face::tired_face: and my previous bonds have disappeared :disappointed:

1 Like

We’re investigating. I think the servers are getting VERY busy right now.

It will all be sorted shortly, I hope.

Lots of eager clickers :slight_smile:

2 Likes

I managed to get in before the rush :muscle:
qVZ6rHP6pLR6w

2 Likes

Professional investors get massive disclosure and a huge legalese list of risk factors.

I’ve been in high yield business for many years and this is a massive risk for retail investors.

I hope you provide all the necessary information instead of “read a bit of this, click on Add Bonds… thanks for your money”

Many Fintech startups offer equity in return, not debt. Here, Dozens doesn’t give up any ownership. And the risk of a default is very high while recovery is very low, from a credit perspective.

Don’t forget - when you buy bonds, you’re lending to a startup and not asking for equity in retun.

1 Like

Please read the post linked in the opening post with details of the bond product as this is all addressed there, as well as the terms and conditions in the app.

6 Likes

Very busy clickers but got in eventually!

1 Like

This is great news! When will the investors’ bond round be?

WOWOWOWOW!

OK, thanks everyone for your interest and excitement. The servers are red hot with all the interest in the bonds.

We apologise if you aren’t yet seeing the bid button, but do give it a try again and it should be fine soon. We have our engineering team working overtime on it. As you can see, there are still people getting through.

We’re certainly getting lots of bids in for this first issuance. Feels a bit like Glastonbury!

I’ve had some messages about this, so I should remind you that this is just the first, small and quick, issuance, and that there will be another one in October as well, and then the plan is to have them regularly after that as well, so if you happen to miss out now, or if you are not ready, there will be other opportunities.

Do read up on the bidding and allocation process in the explanation post (shared again for reference below) so you know what the bonds are about, and how we will process them all.

Thank you all for your support and your interest. And thanks to the enthusiastic bidders already for your perseverance.

https://www.dozens.com/our-5-bonds-everything-you-want-to-know/

3 Likes

That will be in October (you’ll get details of that through the appropriate channels)

Just submit bond successfully

There’s few more buttons and reads than expected. But overall still very clear.

Suggestion, maybe overhead you can have a process bar to say which stage we are at.
1 submit bond
2 read T&C
3 read bonds T&C
4 submit personal detail

Etc.

2 Likes

Is there a way to see the full T&Cs before bidding?
It wasn’t possible to do this the last time the bonds were offered and it is the reason I didn’t bid.

With the ISA option, does interest earned stay within the ISA or does it get paid to a non-ISA account?

How will the S&S ISA function in relation to other Dozens investment products offered or soon to be offered as a S&S ISA? Will there be a single Dozens S&S ISA which can hold all the products, or will we need to have seperate S&S ISAs for different products (e.g. one for Bonds in the Grow section and a different one for Funds in the Invest section)? The latter would obviously mean you would not be able to subscribe to ISAs for Dozens Bonds and Dozens Funds in the same tax year.

Does the ISA support incoming cash transfers from other ISAs?

Good questions:

Yes, see the last item in the menu here: https://www.dozens.com/nex

Interest from an ISA wrapped product will be paid into an ISA account

Yes, the same Stocks & Shares ISA will apply for any investment products in the Dozens app, so you can have different products with Dozens, but you cannot open a S&S ISA in the same tax year with another institution

Not yet.

1 Like

Thanks

I suggest you provide a link to this on the “view details” bonds screen within the app.
That’s where I would expect to see a link to the full T&Cs.

There’s an active Freetrade forum topic on Dozens that I haven’t seen you pop into yet @robert so bringing it to your attention as I’ve seen you in others:

2 Likes

Managed to bid successfully, but the pending bid only shows up randomly, sometimes not showing at all in the app.

Probably just server overload?

I seem to remember dozens actually provided an account statement at some point showing transfer into the emoney account. Or am I imagining it?