Claims management company Rebus has collapsed into administration, marking one of the biggest failures of a UK crowdfunded company.
Rebus had raised more than £800,000 last year on crowdfunding platform Crowdcube to fund an expansion, according to the BBC.
It comes in the wake of another high-profile crowdfunding failure a couple of months ago. Mini-drone maker Zano, which raised £2.3m on another platform kickstarter, was closed down in November.
Reports suggest that more than 100 people who invested in Rebus are in line to lose their money.
According to the company's website, it was managing 1,700 claims together worth more than £930m. It employs 29 full-time members of staff.
Rebus' website has not yet been updated regarding the administration.