A solar business that raised £1 million from almost 400 individual investors through crowdfunding less than 18 months ago has collapsed into insolvency.
In one of the largest failures of a crowdfunded business in the UK, administrators have been appointed at Solar Cloth Company.
The Cambridge-based business, which made a light, flexible solar cloth that could be placed on non-load-bearing roofs, raised £967,130 on Crowdcube, an equity crowdfunding platform, in January 2015. This was almost £220,000 more than the companys directors said that they needed as they told investors a sale for £100 million in three years time was on
Read the full article at: http://www.thetimes.co.uk/article/sun-sets-on-crowdfunded-1m-project-3mvkrcvrw