Two of the seven companies launched with money raised through ABN Amro’s crowdfunding platform have gone bust, the Volkskrant says on Friday.

Around 100 investors who put €5,000 into the fund – Platform Seeds – have lost their money and, the bank says, it can do nothing for them.

GreenGraffiti raised €65,000 in 2012 to develop a system of environment-friendly graffiti for advertising campaigns. Founder Jim Bouwes has now written to his 49 investors to tell them the firm has been declared bankrupt, the paper says. He says the lack of clear local authority rules was one of the issues which kept clients away.

Sweet maker Yuno went bust last year.

ABN Amro said earlier this year it was stopping its commercial crowdfunding efforts. Other companies founded by Seeds include Greenjoy, which rents out electric motor boats, and a company developing an app for dementia sufferers, the Volkskrant says.