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Crowdfunding- The details
Crowdfunding- The details
Hayley Joseph avatar
Written by Hayley Joseph
Updated over a week ago

What is crowdfunding?

Crowdfunding is an easy way to become a shareholder of Fiit.

This means you’ll have a piece of the company, support us on our mission, and – most importantly – financially benefit from our success.

Why is Fiit crowdfunding?

We wouldn’t exist without our community and we want to give you a once in a lifetime opportunity to shape the future of Fiit. We will use the money raised to launch a new range of connected fitness equipment & gyms, grow our community via new features and develop more world class mat & equipment workouts.

Is Fiit EIS compliant? (and what is EIS?)

The EIS (Enterprise Investment Scheme) is a tax relief scheme created by the UK government to encourage investment into startups and early-stage businesses by UK-based investors.

As a “UK tax-paying” investor, EIS benefits you by offering potentially significant income tax and capital gains reliefs when you make an investment into an EIS eligible startup or business.

Fiit has received EIS advance assurance. Whether you can claim EIS/SEIS relief depends on your personal circumstances and the ongoing availability of these tax reliefs.

What is Crowdcube?

Crowdcube is the world's largest equity crowdfunding platform.

They enable the next generation of businesses, who love pushing at the edges and want to challenge the status quo with big ideas and new thinking, to raise finance.

For investors, they provide the opportunity to back businesses that they can believe in, those that have a purpose beyond the next customer or sale.

Since Crowdcube was founded in 2011, they have helped more than 1,300 raises successfully fundraise. With more than 1,300,000 members, a total of £1bn has been invested on the platform to date. Over 50,000 investors have had the chance to realise more than £60m in returns from investments made with Crowdcube.

Businesses that have successfully raised funds with Crowdcube include Monzo, Revolut, Nutmeg and Freetrade, Grind and Mindful Chef.

Who can invest?

To invest in Fiit through Crowdcube;

  • You must be over 18 years old and legally entitled to invest

  • A resident of the UK or any number of the countries currently supported by Crowdcube

  • Payments must be made in GBP

For more information please contact [email protected]

How can I invest?

You can become a shareholder of Fiit by opening an account with Crowdcube and placing your investment through them. Your investment will be administered and held through your registered Crowdcube account.

When creating your Crowdcube account, please make sure you create it in your own name, as the person investing. They cannot accept joint investments or investments made on behalf of someone else. You’ll also be asked to choose an investor type (such as everyday, professional, etc.) and complete a quick questionnaire.

Information is provided through the questionnaire to ensure you understand the high-risk nature of investing in start-ups and early-stage businesses. If you receive independent financial advice, you’re not required to fill out the questionnaire.

It’s important to note that these investor types won’t apply to all other platforms.

You can create your Crowdcube account here.

How much can I invest?

You can invest any amount from just £10 up to £100K. The purpose of crowdfunding is to make equity investment in entrepreneurial businesses accessible to everyone, regardless of their appetite for risk or the size of their wallet.

When can I sell my shares?

You can’t sell your shares until Fiit ‘exits’. There are a couple of ways you might get your money out of your investment in Fiit.

  • We take investment from a venture capital firm who offers to buy out some (or all) earlier investors.

  • We are acquired by a bigger company.

  • We go public in an Initial Public Offering (IPO) and list our shares on the stock exchange.

If any of these things happen, you could profit from your initial investment.

Various start-ups have raised investment through Crowdcube and gone on

to exit the business and generate a healthy return for their investors.

At this stage, we can’t predict which type of exit will happen, so we can’t

tell you exactly when or how you will exit your investment. However, we

will keep you fully informed of our progress at all times.

Investments of this nature carry risks to your capital. Please Invest Aware.

Still have questions? Speak to us at [email protected]

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