Small investors take action against Volocopter

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

A group of crowdfunding investors is taking action against the flight cab start-up Volocopter. A letter to this effect, reported by the Handelsblatt reports, was sent to the company's new CEO Dirk Hoke.

The total of 177 investors who have joined together in the "Volocopter investor community" had, like some others, invested in the start-up nine years ago via the Seedmatch platform. The dispute is now igniting over the question of whether or not Volocopter was allowed to unilaterally cancel these subordinated loans last year. The investors received only one percent interest per year on their money.

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

The lawyer of the investor community also reproaches Seedmatch. The contracts of the platform are technically faulty. They are now seeking an amicable settlement with Volocopter, which could consist of a more generous return on the capital invested.