GILDI Wallet

GILDI Wallet

Simple-to-use personal hardware security wallet for self-storage of Bitcoin and other digital assets

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Security Type
Crowd Note
Categories
Other
Min Investment
$1,000
Location
Seattle, WA
Offering Date
October 18, 2019
Expected Close Date
January 16, 2020
Target Raise
$500.00K-$750.00K
Deal Notes

Round type: Seed Round size: US $750,000 Minimum investment: US $1,000 Target Minimum: US $500,000 Security Type: Crowd Note Conversion discount: 20.0% Valuation Cap: US $7,000,000 Interest rate: 7.0% Note term: 24 months Closing conditions: While GILDI Wallet has set an overall target minimum of US $500,000 for the round, GILDI Wallet must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to GILDI Wallet's Form C. Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Raised to date: US $200,000 US $0 (under Reg CF only)

Company Description

Simple-to-use personal hardware security wallet for self-storage of Bitcoin and other digital assetsNot a week goes by in the crypto world without another report of funds being lost, stolen or compromised with little or no possibility of recovery.  The poor UX of current solutions has led to investors using less secure storage options that put their funds at risk of theft.   Cold Storage (i.e hardware wallet) should be considered as an option for everyone who is managing digital assets. Current hardware wallets are akin to the cellphones in 90s -- they work for their intended purpose, but are inconvenient to use, lack advanced functionality, and are overpriced given the hardware involved.  For widespread adoption of blockchain
technology and cryptocurrency, investors and consumers need one easy-to-use
device paired with an application ecosystem that “just works". GILDI solves these issues by offering
industry-leading security and connectivity features packed into a portable,
affordable, and user-friendly device. The credit card-sized GILDI Wallet is
waterproof, durable, tamper-responded, tamper-evident, supply chain traceable,  Bluetooth enabled, and
offers a similar UX to traditional smartphones. Furthermore, assets are
protected by two independent layers of encryption, a dedicated secure app
processor, and an isolated, secure enclave to store private keys.By building around UX and ease-of-use without
sacrificing functionality, GILDI is making digital asset storage more
accessible, convenient, and secure.

Perks

Invest $1,000 to receive complimentary GILDI wallet unit from our pre-launch production (anticipated delivery beginning Q1 2020) + 3 month subscription to https://blockroots.com (our trusted partner for in depth Bitcoin and digital asset analysis and trading strategies) 
Invest $3,000 to receive complimentary GILDI wallet + 6 month subscription to Blockroots.com 
Invest $5,000+ to receive 2x GILDI wallet units + 1 year subscription to Blockroots.com 

Key Deal Facts

Notable investors and advisors: Ben Davenport of BitGo and Beluga; Charlie Lee of Litecoin; Ryan Hurst of Google and GlobalSign; Matt Pauker of Voltage Security and 21e6
Company and founder have two filed U.S. patent applications: physical security of hardware device and wireless communication (#16/520,913 and #62/775,367)
Pre-production hardware unit is complete
Beta mobile App for iOS and Android

Use of Proceeds

Salaries: 36%

Marketing: 4%

Research & Development: 40%

Production/QC: 20%

Management Team / Advisory Board Bios

Alexander Lebedev
Co-Founder
Alex has over 17 years’ experience in developing and commercially distributing hardware device. The past 6+ years his focus has been on consumer mobile connected devices via Bluetooth and mobile applications, with the most recent product being www.reelsonar.com a wireless  mobile connected fish finder to help you catch fish. Alex holds MS, Biomedical and MBA Finance/Marketing

Matthew Lebedev
Co-Founder
Matt has over 10 years’ experience in commercial banking with focus on bringing FinTech technology products and services to market. Matt holds a BS in Finance.  

Deal Notes

Round type: Seed Round size: US $750,000 Minimum investment: US $1,000 Target Minimum: US $500,000 Security Type: Crowd Note Conversion discount: 20.0% Valuation Cap: US $7,000,000 Interest rate: 7.0% Note term: 24 months Closing conditions: While GILDI Wallet has set an overall target minimum of US $500,000 for the round, GILDI Wallet must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to GILDI Wallet's Form C. Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Raised to date: US $200,000 US $0 (under Reg CF only)

Amount Raised : $207,000
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Security Description

A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

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