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Company registered June 2022: https://pomanda.com/company/14201071/nowala-ltd https://pomanda.com/company/14201071/nowala-ltd Office is in an apartment block i
by jumbly888 4y ago
Company registered June 2022: https://pomanda.com/company/14201071/nowala-ltd https://pomanda.com/company/14201071/nowala-ltd
Office is in an apartment block in London.
Not registered with FCA or ICO
5% returns, when the company has only been running two months, is - ahem - “impressive”
Registered in Delaware. Erm, no. It is most certainly not.
Payment by bank transfer - which has no recourse in the UK.
Based on observed evidence, it’s very very difficult to avoid a conclusion of “scam”.
- kekuramusa 4y agoThanks for pointing out these issues. Just for transparency, I'm a US citizen so I originally registered a Delware LLC. But I now live in the UK and our early customers are here so made sense to create a UK entity instead. Foolishly we haven't updated all of our documents on that. Will do that ASAP! We've highlighted that the returns are "4-5% estimated annual return for 2 years". I stand by this as it's unrelated to how long our company has been registered in the UK. It's based on the schedule of payments agreed to by our partner on the ground who distributes, installs and maintains the solar panels. The unit economics work, I have been to the villages and seen solar panels installed in homes. Our partner has been distributing small solar panels in Africa for almost 10 years for over 100K homes. We help them solve the energy access problem by giving them more flexible access to financing and the loans are directly tied to the solar panels. Fair point on the bank transfer. We're working on upgrading that.