Digifox

An all-in-one finance app — better interest rates and lower fees

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Security Type
SAFE
Categories
Technology, Infrastructure, Crypto & Blockchain, Financial Services
Min Investment
$100
Location
Middletown, DE
Offering Date
June 06, 2020
Expected Close Date
April 30, 2022
Target Raise
$100.00K-$5.00M
No. Investors
233
Security Price
$4.09
Deal Notes

$25K+ pro rata right threshold

Valuation
$35,000,000
Website
digifox.finance
Number of Employees
8
Cash
$128,693
Revenue
$284,839
Short Term Debt
$0
Cost of Goods
$275,533
Long Term Debt
$0
Net Income
$-175,959

Company Description

Digifox serves as your all-in-one finance platform. Earn up to 7% on your savings, buy cryptocurrencies, and send, receive, or spend your money across the globe for much lower fees.

Perks

$500+ for Gold Ambassador - Lending fees are reduced from 1% to 0.25% and trading fees are reduced from 0.49% to 0.30% for your personal account.
$1,000+ Platinum Ambassador - Lending fees are reduced from 1% to 0.1% and trading fees are reduced to 0.25% for your personal account.
$5,000+ A personal, 30-minute call with the founder, Nicholas Merten, to discuss information related to Digifox (Business strategy, feature requests, etc.)
$10,000+ Have a dinner with Nicholas Merten to learn more about Digifox, our team, and our long-term goals as a company. *Restrictions may apply, depending on location

Key Deal Facts

? Founded by the creator of DataDash, the #1 YouTube channel for crypto with 343,000 subscribers.
✔️ Our app is fully built and live on both iOS and Android.
? Our company generates multiple revenue streams from lending, borrowing, trading and transactions.
? Advised by Zeb Evans, founder of ClickUp.com & John deVadoss, architect for .NET at Microsoft.
?‍??‍? Over 3,200 people registered to be notified for Digifox's public launch on June 15th.
? We constantly aggregate the best financial services on the market into one seamless experience.
⚡ Digifox has been entirely self-funded by the founder, Nicholas Merten.
? We've created a cutting-edge referral model to build real relationships and scale exponentially.

Use of Proceeds

If $100,000 is raised:

72.5% towards hiring/paying employees, 10% towards marketing, 10% towards legal, and 7.5% towards Wefunder intermediary fees

If $1,070,000 is raised:

65% towards hiring/paying employees (3 full-time developers), 17.5% towards marketing (A strategic, viral marketing campaign), 10% towards Legal counsel & guidance, and 7.5% towards Wefunder intermediary fees

Management Team / Advisory Board Bios

Nicholas Merten
Founder & CEO
The Founder and CEO of DataDash, the largest YouTube channel for cryptocurrencies with over 343,000 subscribers.

Chase Poirier
Lead Architect
Co-Founder of Udio Ventures, Built multiple industry-tier applications for emerging startups and enterprise companies.

Madison Yocum
Lead Designer
Product Designer at ReadMe, Designed multiple industry-tier applications for emerging startups and enterprise companies.

Deal Notes

$25K+ pro rata right threshold

Amount Raised : $680,057
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
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Valuation

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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