Bee Mortgage App

By Mortgage Pros for Generation Mobile | $3.4 Trillion Market

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Security Type
CAFES
Categories
Financial Services, Technology, Other, Community & Lifestyle, Crypto & Blockchain
Min Investment
$100
Location
Ponte Vedra, FL
Offering Date
November 18, 2019
Expected Close Date
April 30, 2025
Target Raise
$50.00K-$124.00K
No. Investors
78
Security Price
$1
Deal Notes

Price per Share: $10.00

Website
beemortgageapp.com
Number of Employees
2
Cash
$1,501
Revenue
$4,686
Short Term Debt
$288,437
Cost of Goods
$833
Long Term Debt
$2,404,884
Net Income
$-145,815

Company Description

Think Robinhood app for mortgages + AI/ML

With AI/machine learning and blockchain, we're building the first end-to-end mobile mortgage experience that will eliminate the need for a human loan officer to manually verify and validate loan file data. In other words, a true mobile mortgage for Generation Mobile that's the largest home buying group this year ($1.2 Trillion).

In five years, we hope to be a unicorn known as the first direct mobile lender onboarding massive numbers of new home buyers (and others), powering super streamlined refinances, generating $100M+ in loans, and an IPO in 10 years. These projections cannot be guaranteed.

Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.

Perks

Invest $250+ for Bee t-shirt!
$500+ Bee t-shirt and beanie.
$1,000+ Bee t-shirt, beanie and hoodie.
$10,000+ Bee t-shirt, beanie, hoodie, pop socket, and launch party invite.
Invest $250+ for Bee t-shirt!
$500+ Bee t-shirt and beanie.
$1,000+ Bee t-shirt, beanie and hoodie.
$10,000+ Bee t-shirt, beanie, hoodie, pop socket, and launch party invite.

Key Deal Facts

Patent pending AI, machine learning & blockchain tech replace humans unlike Rocket Mortgage.
Successful VC backed pre-seed raise | Revenue generating with major bank partnership.
MIT & UChicago MBA grad software engineers.
Live app with fast growing user base | +314% downloads over the past 30 days.
✅ Founded by licensed mortgage loan officers, real estate agents & certified blockchain experts.
Execution: team released Bee App 1.0 on time and under budget all during a global pandemic.
For young, new buyers who love personal finance apps like Robinhood, Chime, Fair and Carvana.
Possible Amazon licensing deal for Alexa.

Use of Proceeds

$50,000 

  • 30% towards product development
  • 34% towards advertising and traction
  • 28.5% towards operations
  • 7.5% towards WeFunder fees.  

$769,600

  • 52% towards product development
  • 25% towards advertising and traction
  • 15.5% towards operations
  • 7.5% towards WeFunder fees. 

Management Team / Advisory Board Bios

Curtis Wood
Co-founder & CEO
Licensed Mortgage Loan Originator NMLS 1308125 | Developer | Certified blockchain expert | Previous: TIAA Bank, PHH Mortgage, iMobile3

Cynthia Wood
Co-founder & COO
Designer & Developer | Top ranking woman in blockchain | Certified blockchain expert | Previous: Harden

Matt Offers
Co-founder & VP of Products
Products development lead overseeing the creation of Bee's mobile assets. Previous: Optimal Blue, Pavaso.

Kristin Scheurer
Co-founder & CMO
Responsible for overseeing all promotional initiatives, Kristin is dedicated to ensuring Bee reaches every family who dreams of homeownership.

Holly Davis
Co-founder & CTO
20 years of enterprise level project management experience, Holly works closely with executive leadership leveraging all technological resources to the realization of Bee's core mission.

Angie Luu
Lead Experience Designer
Lead UX designer and researcher. Previous Design Experience: Capital One, Discount Tire, Asics, and Boeing.

Munir Valiani
Co-founder & VP of Originations
Developer | Licensed Mortgage Loan Originator NMLS 939488 | Certified blockchain expert | Previous: PHH Mortgage

Mindy Barker
Interim CFO
Author and financial expert with broad CFO experience.

Dwight Skyers
Director of Agent Partnerships
Retired Navy and active REALTOR®, Broker Associate, Dwight is responsible for agent outreach.

Deal Notes

Price per Share: $10.00

Amount Raised : $103,788
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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
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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.
Management Team
ⓘ
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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