Small investors take action against Volocopter

A number of crowdfunding investors feel ignored by the air cab start-up and are now threatening to take legal action.

A group of crowdfunding investors is taking legal action against the air cab start-up Volocopter. A letter to this effect, which the Handelsblatt reported, was sent to the new company boss Dirk Hoke.

The 177 investors who have joined together in the "Volocopter investor community" invested in the start-up nine years ago via the Seedmatch platform, as did a number of others. The dispute now centers on the question of whether or not Volocopter was allowed to unilaterally terminate these subordinated loans last year. The investors only received interest on their money at one percent per year.

In view of a failed Spac IPO and a presumed billion-euro valuation in a financing round in March, the investors now feel ignored. In the event of an IPO, for example, they would have received a forty-fold increase in their investment.

The investor community's lawyer is also making accusations against Seedmatch. The platform's contracts were technically flawed. They are now seeking an amicable settlement with Volocopter, which could consist of a more generous return on the capital invested, for example.