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118%
Raised
£177,320
Investors
201
Target
£150,000
Equity
22.81%
Pre-money valuation
£600,000

Silverfriend is a start-up offering older people protection from scams and fraud. 53% of over 65’s have been victims of a scam and it’s getting worse every year, with fraudsters preying on the lonely and isolated. The team aim to take away that isolation and vulnerability.

  • Members will pay an annual fee and receive access to fraud advisors
  • The management team have a wealth of experience; plan to launch Q1 '18
  • Newsletters, alerts and websites will help to educate
  • The target audience is the UK's 11.8 million over 65's
Information The company had £150,000 of its SEIS allowance remaining at the start of this raise. This will be allocated to investors on a first come first served basis. Any investments made after that limit has been exceeded will not be SEIS eligible but will potentially be eligible for EIS. The potential tax relief of any investment will be confirmed by email to investors, after they have submitted their applications to invest, and will depend on an investor's individual circumstances.

Idea

My wife’s grandmother was scammed and didn’t tell anyone for months. It wasn’t just the monetary loss but the sense of shame that inspired the Silverfriend concept.

We wanted a solution which took away this isolation and maintained their independence. The ability to speak immediately to a trained UK based expert achieves both when confronted by the unexpected email, the surprising lottery win, the too good to be true investment or the rogue tradesman on the doorstep. We aim for our alerts, newsletters and website to help educate, and in return, members will pay an affordable fee either monthly or annually. They maintain their independence but increase their safety.

We have established good relationships with government bodies, charities and academic institutions to ensure credibility. We are working with PR/Communications, design, technology and insurance companies to ensure we deliver a high-quality product.

The University of Portsmouth Centre for Counter Fraud Studies is preparing our training materials. The marketing/launch program is similarly complete.

Silverfriend is scheduled to launch in Q1 2018.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Silverfriend has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.