Transitnet

TransitNet brings title to crypto.

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Security Type
CAFES
Categories
Technology, Financial Services, Crypto & Blockchain
Min Investment
$250
Location
Manhattan Beach, CA
Offering Date
November 13, 2020
Expected Close Date
April 30, 2023
Target Raise
$50.00K-$5.00M
No. Investors
679
Security Price
$1
Deal Notes

Discount: 10%

Website
transitnet.io
Number of Employees
2
Cash
$1,294,113
Revenue
$9,797
Short Term Debt
$162,677
Cost of Goods
$0
Long Term Debt
$2,128,103
Net Income
$-975,340

Company Description

We are creating an off-chain title record that enables institutional investors, exchanges, and services providers to reliably confirm title for cryptocurrency wallets. 

In 5 years, we want to be the title registry of record for all institutions transacting in crypto, but this 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 $500+ for TransitNet t-shirt
$1,000+ TransitNet zipup hoodie
$10,000+ Signed copy of TransitNet co-founder Eric Jackson's book The PayPal Wars.
$20,000+ One-on-one virtual meeting with TransitNet co-founders Eric Jackson and Chris Grey to discuss the business topic of your choice (e.g. tech trends, investing, PayPal's history).
Invest $500+ for TransitNet t-shirt
$1,000+ TransitNet zipup hoodie
$10,000+ Signed copy of TransitNet co-founder Eric Jackson's book The PayPal Wars.
$20,000+ One-on-one virtual meeting with TransitNet co-founders Eric Jackson and Chris Grey to discuss the business topic of your choice (e.g. tech trends, investing, PayPal's history).

Key Deal Facts

We solve a big problem. Crypto needs title to reach its full potential.
Stakeholders include Peter Thiel & other "PayPal Mafia" members.
Veteran fintech team: Eric (PayPal), Chris (investing) & Will (audit tech).
The opportunity is huge. We estimate the addressable market to be $5 billion+.
We already have a working beta product. Our cloud-based SaaS platform is up and running!
Our beta customers include well-known advisory firms such as Cohen & Co. and Berkower LLC.
TransitNet was incubated at CapLinked Inc. and has just been spun out as a separate company.
This is your chance to get in on the ground floor of something special!

Use of Proceeds

$50,000

  • 62.5% product development
  • 10% Software and Servers
  • 20% Marketing & Sales
  • 7.5% WeFunder fees and fundraising costs 

$1,070,000

  • 50% Product Development
  • 10% Software and Servers
  • 18.5% Marketing & Sales
  • 14% SG&A
  • 7.5% WeFunder fees and fundraising costs 

Management Team / Advisory Board Bios

Eric Jackson_x000D_
CEO and Co-Founder_x000D_
Member of the early PayPal team responsible for building the company's revenue model. Serial entrepreneur, CEO and co-founder of CapLinked._x000D_
_x000D_
Christopher Grey_x000D_
COO and Co-Founder_x000D_
Invested and managed several billion dollars in private equity over 15 years. Co-founder of profitable enterprise software company CapLinked._x000D_
_x000D_
Will Coleman_x000D_
Architect_x000D_
Principal architect of attest services to support cryptocurrency investment funds for Cohen & Company, the largest auditor of crypto investment funds in the U.S.

Deal Notes

Discount: 10%

Amount Raised : $734,189
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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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