Shadow Foundr is delighted to announce the signing up of our new custodian, Goji Financial Services Limited (Company Registration Number: 10234133), a new and technologically advanced custodian that is fully authorised and regulated by the Financial Conduct Authority (Firm Registration Number: 805323).
Goji will handle client funds and hold investments in a share nominee account on the behalf of Shadow Foundr clients.
The Advantages of an Independent Custodian:
- The custodian, while holding client funds or investments, means that all individual investors (regardless of their nationality) are insured by the Financial Services Compensation Scheme (FSCS) for a shortfall of up to £85,000 or €100,000; should anything go wrong.
- The custodian also provides independent Know Your Client (KYC)/Anti-Money Laundering (AML) checks and ensures the business meets the required criteria, prior to your funds being disbursed to the company.
- Shadow Foundr is increasingly moving to the holding of all investments in a share nominee account, (in common with all other platforms) which helps to facilitate follow-on funding and liquidity for secondary markets and any eventual exit.
- The custodian allows Shadow Foundr to scale and innovate by integrating our platform with the safe custody system of the custodian, which also helps to make the whole investment experience more seamless.
- The new custodian will also increase transparency and will result in better reporting, while helping to separate any conflict of interest issues Shadow Foundr may have between investors and the business, they are investing in.
- We aim to collaborate with other business angel groups, family offices and institutions (such as VC’s) to match fund and provide follow-on funding to the benefit of businesses and investors alike; however, this is only really feasible using an independent custodian and share nominee account.