dozens - 5% fixed interest bonds
Discussion
Saw these advertised on the tube last night. No mention of FSCS backing on the adverts, but there is here: https://www.dozens.com/the-app/
"One final point; For both the fixed interest bonds or our strategies you are covered by the Financial Services Compensation Scheme for up to £50,000 for our misselling or default. dozens does not give financial advice, you should speak to an expert if you are unsure about investing. "
Is anybody familiar with dozens and the products or is this another London Cap & Finance high risk like issuance?
"One final point; For both the fixed interest bonds or our strategies you are covered by the Financial Services Compensation Scheme for up to £50,000 for our misselling or default. dozens does not give financial advice, you should speak to an expert if you are unsure about investing. "
Is anybody familiar with dozens and the products or is this another London Cap & Finance high risk like issuance?
I don’t think it’s structured as an insurance product. Reads like you’re lending them money (which is what a deposit account is after all). So you have to ask yourself whether 5% is sufficient return for lending a start up money ? I’d say not. They certainly wouldn’t be able to borrow money from an investor at those returns
I don’t think it’s structured as an insurance product. Reads like you’re lending them money (which is what a deposit account is after all). So you have to ask yourself whether 5% is sufficient return for lending a start up money ? I’d say not. They certainly wouldn’t be able to borrow money from an investor at those returns
chucklebutty said:
Saw these advertised on the tube last night. No mention of FSCS backing on the adverts, but there is here: https://www.dozens.com/the-app/
"One final point; For both the fixed interest bonds or our strategies you are covered by the Financial Services Compensation Scheme for up to £50,000 for our misselling or default. dozens does not give financial advice, you should speak to an expert if you are unsure about investing. "
Is anybody familiar with dozens and the products or is this another London Cap & Finance high risk like issuance?
Since they dont give advice I dont see how they can be covered for misselling?"One final point; For both the fixed interest bonds or our strategies you are covered by the Financial Services Compensation Scheme for up to £50,000 for our misselling or default. dozens does not give financial advice, you should speak to an expert if you are unsure about investing. "
Is anybody familiar with dozens and the products or is this another London Cap & Finance high risk like issuance?
Not sure that they will really be covered for default either.
TooLateForAName said:
chucklebutty said:
Saw these advertised on the tube last night. No mention of FSCS backing on the adverts, but there is here: https://www.dozens.com/the-app/
"One final point; For both the fixed interest bonds or our strategies you are covered by the Financial Services Compensation Scheme for up to £50,000 for our misselling or default. dozens does not give financial advice, you should speak to an expert if you are unsure about investing. "
Is anybody familiar with dozens and the products or is this another London Cap & Finance high risk like issuance?
Since they dont give advice I dont see how they can be covered for misselling?"One final point; For both the fixed interest bonds or our strategies you are covered by the Financial Services Compensation Scheme for up to £50,000 for our misselling or default. dozens does not give financial advice, you should speak to an expert if you are unsure about investing. "
Is anybody familiar with dozens and the products or is this another London Cap & Finance high risk like issuance?
Not sure that they will really be covered for default either.
Yes, that for me is exactly the problem. There are also some statements about we take your bond boney, plus the interest you will be due and put it into a trustee managed account - no mention on who these trusted folk are. So what's the point in borrowing using a bond if you just lock the cash up? Unless the cunning folk are getting 5.1%?!
I've looked into this in a bit more depth.
The 5% interest is nothing more than a marketing expense they are prepared to pay to a limited number of people who subscribe to their overall service.
So your deposit and the interest on it is placed in Trust on day one.
It is actually quite a clever marketing strategy - to offer a very high rate of return to a small number of people in order to grab the attention of a larger number of people.
The smaller the amount you subscribe for, the more likely you will be to accepted BTW.
The deposit does have full FSCS protection too.
Very clever to use the marketing budget in this way so hats off to them.
The 5% interest is nothing more than a marketing expense they are prepared to pay to a limited number of people who subscribe to their overall service.
So your deposit and the interest on it is placed in Trust on day one.
It is actually quite a clever marketing strategy - to offer a very high rate of return to a small number of people in order to grab the attention of a larger number of people.
The smaller the amount you subscribe for, the more likely you will be to accepted BTW.
The deposit does have full FSCS protection too.
Very clever to use the marketing budget in this way so hats off to them.
Thanks for the update - they came up in my facebook stream , amazing coincidence, and nothing but people complaining they have been KYCd but not yet onboarded. And dozens just saying they are getting through the backlog of applicants. None of the people updating it's all gone through so far.
So in theory, if accessible, it's a great deal.
So in theory, if accessible, it's a great deal.
Just an update to my previous post. No affiliation with Dozens but thought it might be of interest to people.
The Dozens pitch has been live on Seedrs for a while.
They are seeking £3.5m for 14.89% equity. So far £3,602,820 has been invested. Valuation is £20M. There are 1667 investors with 2 offering in excess of £1.2M each.
The Dozens pitch has been live on Seedrs for a while.
They are seeking £3.5m for 14.89% equity. So far £3,602,820 has been invested. Valuation is £20M. There are 1667 investors with 2 offering in excess of £1.2M each.
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