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