Keyno

Keyno

Preventing Online Fraud — Dynamic CVV2 for your Credit, Debit, & Prepaid Cards

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Security Type
SAFE
Categories
Other
Min Investment
$20
Location
Laguna, CA
Offering Date
March 08, 2020
Expected Close Date
June 06, 2020
Target Raise
$50.00K-$500.00K
Deal Notes

20.0% discount

$25K+ pro rata right threshold

Company Description

Keyno provides online fraud prevention for Credit, Debit, & Prepaid cards worldwide. We replace the static CVV2 code on your card with a dynamic CVV2 (CVVKey) code that is on your phone. Think of us as google authenticator for payment cards.

Perks

Invest $250+ for Keyno - Shop fearlessly! Credit Card holder for your smart phone.
$1,000+ Entry into our VIP Group, help design and test our software first
$2,500+ 30 minute call with founders
$25,000+ Your name listed on the Founders Plaque in our office

Key Deal Facts

10+ bank prospects in the sales pipeline. Banks pay for CVVKey.
Offered in Collaboration with Visa, integrated dynamic CVV2 validation on VisaNet
A+ Team of payment industry experts on dynamic CVV2.
Meets European PSD2 requirements for Strong Customer Authentication
15% of (Card-Not-Present) CNP transactions make up 55% of Total Fraud
Only 3 easy steps for banks to enroll in Keyno's service. No integration required.
Independent Research on 1,000 card holders shows that 3 out 4 consumers would feel safer with dynamic CVV2
Online Fraud is growing by double digits, every week is another data breach effecting millions of cardholders

Use of Proceeds

If $50,000 is raised:

50%: Sales and marketing through event and conference attendance 25%: IT costs--paying for servers and development consultants 17.5%: Legal and compliance fees 7.5%: Wefunder intermediary fee

If $500,000 is raised:

50%: Sales and marketing through event and conference attendance, hire marketing person full-time, pay office expense, and current salaries.  25%: IT costs--paying for servers and an additional developer 17.5%: Legal and compliance fees 7.5%: Wefunder intermediary fee

Management Team / Advisory Board Bios

Robert J Steinman
Founder & CEO
Robert J. Steinman is the inventor of the CVVKey concept, an engineer with an MBA, a serial entrepreneur and has over 40 year of business & software development experience.

Lester Diaz
Founder & CTO
Lester Diaz is the software architect of the CVVKey platform, an engineer specializing in large-scale distributed systems, with over 15 years of experience in applications architecture, cloud computing, cyber security and compliance

Rustin Carpenter
Chief Revenue Adviser
Rustin Carpenter has 22+ years experience in the payment industry, having worked at Datacard, ViVOtech, FIS, Amex, Accenture, & D&B; along with contacts at 67 of the top 100 North American Banks.

Deal Notes

20.0% discount

$25K+ pro rata right threshold

Amount Raised : $139,660
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Security Description

A SAFE is an agreement between you—the investor—and the company in which the company promises to give you a future equity stake based on the amount you invested. It also involves some kind of a triggering event that must take place in order for you to get your future equity stake. Be careful as you may only get equity if a particular event is triggered.

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