Stacksource

Online financing portal for real estate investors

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Security Type
SAFE
Categories
Technology, Real Estate, Financial Services
Min Investment
$100
Location
Newark, NJ
Offering Date
February 11, 2021
Expected Close Date
April 30, 2022
Target Raise
$1.00M-$1.07M
No. Investors
755
Security Price
$1
Deal Notes

Price Per Share: $1.00

Website
stacksource.com
Number of Employees
15
Cash
$154,355
Revenue
$1,219,316
Short Term Debt
$70,739
Cost of Goods
$609,149
Long Term Debt
$926,993
Net Income
$159,011

Company Description

StackSource is a growing commercial real estate financing portal with more than $2 Million of revenue, poised to change the real estate finance industry.

Key Deal Facts

StackSource has already closed over 100 real estate loans across 28 states; $2 Million+ revenue
Backed by Techstars, Newark Venture Partners, and real estate industry executives
Market Size: $600 Billion of commercial mortgages were originated in the US in 2019
All-time lending volume recently surpassed $250 Million
Real estate investors are increasingly looking online for financing
Patent-pending browser extension technology will redefine the search for real estate acquisitions

Use of Proceeds

  • $1,000,000 (30%) Hire two full-time, front-end software engineers offshore to implement new functionality in our web app. (15%) Hire one full-time User Experience Lead in the US to lead the design strategy of our technology. (20%) Hire one President of Capital Advisory to manage the growing team of Capital Advisors. (25%) Hire three full-time analysts to underwrite financing requests and help the Capital Advisors leverage their time. (2.5%) Pay legal, accounting, and (7.5%) Wefunder platform fees  related to fundraising activities. 
  • $1,070,000 (30%) Hire two full-time, front-end software engineers offshore to implement new functionality in our web app. (15%) Hire one full-time User Experience Lead in the US to lead the design strategy of our technology. (20%) Hire one President of Capital Advisory to manage the growing team of Capital Advisors. (25%) Hire three full-time analysts to underwrite financing requests and help the Capital Advisors leverage their time. (2.5%) Pay legal, accounting, and (7.5%) Wefunder platform fees  related to fundraising activities.

Management Team / Advisory Board Bios

Tim Milazzo Co-founder & CEO
Former Google & Facebook employee from a real estate family

Nathan Wall Co-founder & CTO
Javascript industry speaker, former Google engineer

Deal Notes

Price Per Share: $1.00

Amount Raised : $2,391,065
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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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