Krystal Bonds Update

Hello Customer,

A quick update on our tentative plans to raise money from clients via “Krystal Bonds”.

We were delighted with the amount of positive interest that we received. Thank you to everyone that took the time to answer the survey. Just counting the definite “yes” expressions of interest totalled over £1 million (!) which is truly remarkable and I’m very humbled, thank you.

After a week-long retreat in Wiltshire hammering out the details we started work on a microsite, including a dedicated portal and drafting the legal documentation. I even recorded a video explaining our story and what we’d use the funds for!

Unfortunately, current world events have overtaken us. Climbing inflation and uncertainty, not helped by the dire situation in Ukraine, have meant that we don’t think now is the right time to do the raise. So we’ve taken the tough decision to postpone the bond raise until things are a little more settled.

This doesn’t really change things day-to-day. We never needed the money, we just wanted to accelerate progress. We’re still growing (48% year on year average over the past 5 years), we’re still developing novel software in Onyx, Katapult and now Koru and we’re going to take the opportunity to further improve the company. I’m hopeful that we might still be able to manage an acquisition or 2 too!

As always, please get in touch if you'd like to talk.

Thank you for reading,

Simon Blackler - Founder & CEO

p.s. plans are developing for our in-person 20th birthday party in September, stay tuned!