A lifestyle application supported by Sarah Ferguson received over £1 million in taxpayer funds but ultimately collapsed without launching, according to recently filed documents.
vVoosh was the brainchild of Manuel Fernandez, a close associate of Ms. Ferguson, who previously identified herself as an “ambassador” and investor in the company.
The app aimed to empower users to “Find, Plan, Share, Live, and Remember all the things you love to do – and those you’re yet to try.”
Neither Ms. Ferguson nor Mr. Fernandez have responded to requests for comment.
vVoosh entered administration last month, and its failure is poised to raise further scrutiny regarding the former duchess’s judgment and business affiliations.
Over the years, the company accumulated approximately £9 million in funding, including more than £1 million from the UK government through research and development tax credits, administrator documents reveal.
Teams in both the UK and India were contracted to develop the application, but it was never launched, resulting in no income to sustain further development.
Progress on the app reportedly stalled when the Indian contractor threatened legal action.
The administrator’s report cites a “breakdown in communication between the current directors/major creditors and the founder [Mr. Fernandez], who ceased communication following [his] resignation as a director earlier in the year.”
The report also indicates that a former director owes the company £324,609, believed to be Mr. Fernandez, the only director to have left the company since 2019.
Last summer, he reportedly sold his North London residence for £1.3 million, according to Land Registry records, and is believed to have left the UK.
Meanwhile, vVoosh owes £50,000 to La Luna Investments, one of Ms. Ferguson’s companies, which also held just under 1% of the company’s shares.
Records indicate the firm had over 60 other small shareholders, primarily with addresses in Essex and London, although some American addresses are also listed.
Administrators have expressed “significant uncertainty” regarding the amount of money the company’s creditors will recover once the company is liquidated.
One of the firm’s American backers, Mark Guzy, has invested over £400,000 to preserve “certain essential services” and protect the value of its software platform, which is the company’s primary remaining asset.
Originally, vVoosh intended to allocate 10% of its profits to a charitable foundation.
The BBC understands that the Charity Commission has commenced the removal of the vVoosh Charitable Foundation from the register of charities, citing its lack of operation.
The foundation’s reporting is more than four-and-a-half years overdue.
HMRC declined to address specific questions about the tax credits. Mr. Guzy and the other vVoosh directors also declined to comment.
Earlier this month, Mr. Fernandez denied allegations of misappropriating funds from the firm, according to The Times.
He informed the newspaper that the allegations would be “disproven in the course of legal proceedings.”
Ms. Ferguson, 66, relinquished her duchess title when her former husband, Andrew Mountbatten-Windsor, relinquished use of his Duke of York title due to his association with Jeffrey Epstein. He has since been stripped of the title of prince as well.
Last month, reports surfaced that a cryptocurrency mining firm had agreed to pay her up to £1.4 million as a “brand ambassador,” but that firm also subsequently failed, allegedly costing investors millions. Its co-founder denied any misconduct and stated that he was working to reimburse backers.
In September, several charities removed her as a patron or ambassador following the emergence of a 2011 email in which she referred to convicted sex offender Jeffrey Epstein as her “supreme friend” and appeared to apologize for her public criticisms of him.
According to his LinkedIn profile, Mr. Fernandez attended school in Billericay, Essex, and served as a soldier in the Royal Anglian Regiment.
He subsequently held senior sales positions at various tech companies before establishing vVoosh in 2010.
He was frequently photographed with the then-duchess in 2015 and 2016, and they attended Sir Bob Geldof’s wedding together. However, she refuted rumors of a romantic relationship, stating they were simply “good friends.”
Correction 6 December: An earlier version included financial figures for VVoosh Charitable Foundation, taken from the Charity Commission website, but the charity never traded.
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