I know quite a few people here use FreeAgent; just wondering if anyone joined their crowdfunding series....
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No, didn't know they were seeking more funding. Just looked at their accounts and lost at least £2.1 million last year so after several years, big backers and changes in the PSC market, this one is only for the very brave."The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." Cicero -
... raises the question of what would happen to users data if freeagent go bust.Comment
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Yeah, they been pushing for a couple months now - nearing the end of it. They raised over £1.2m this round - but as you've said; previously they've lost £2.1mOriginally posted by Waldorf View Post
And yes for the brave indeed.
Good question RE what happens to the data...Comment
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Freeagent
I use free agent via my accountant. Bit worried now after reading this.Comment
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Don't panic. I use freeagent and am not worried. I'll keep an eye on it of course, but I'm not going anywhere at the moment.Originally posted by billridley View Post"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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If you're paranoid about your FreeAgent data disappearing without warning, you could take regular backups. Settings> Export All Data.Comment
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You should only be worried if you are thinking of investing in the company. As a service it's brill. Most startups lose money before they get started. I'm sure it's factored in to their business model.Originally posted by billridley View Post'CUK forum personality of 2011 - Winner - Yes really!!!!
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Normally, but Free Agent started out in 2007 so they should be flying by now.Originally posted by northernladuk View Post"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." CiceroComment
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My work over the past couple of years has been centred on online accounting, as there is a demand for this among our customers and it is certainly the direction of the market. As part of this, I have had a look at the various offerings off-the-shelf, but we took the decision to build our own as it was more appropriate for our business – something like FreeAgent is ideal for smaller accounting practices though as it is a very slick, feature rich, system; and it’s evident from comments on CUK that users like it.
If I was thinking about investing in them though, I would question a couple of things:- FreeAgent has previously been backed by some form of venture capital/private equity; I would be interested in why that investor isn’t increasing their stake (and thus letting them crowd fund) if they believed that the business was going to provide a return.
- The other thing is that FreeAgent were previously associated, in some way, with IRIS – however IRIS acquired Kashflow last year and seem to now be pushing that. I would be interested to know why IRIS changed their strategy on this.
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