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Security Type
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SAFE
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Categories
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Technology
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Min Investment
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$100
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Offering Date
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February 01, 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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$50.00K-$250.00K
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Deal Notes
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Price Per Share: $1.00
Company Description
Our co-founders, Brad & Joe, moved to Kansas City from St. Louis in August of 2017 and became roommates while attending the University of Missouri - Kansas City. After enjoying their time in on-campus housing, Brad & Joe were on a mission to find their first apartment. The idea of Splitsy started here.
Key Deal Facts
Digital Sandbox KC $20,000 Grant Recipient
$400+ Billion Interchange Revenue Industry
Over 19 Million people in the U.S. share bills
$200+ Billion Shared Apartment & Utility Industry
Amazon Web Services Start-Up Credits $25,000
A waitlist of users ready to Beta Test
Patent Pending Technology
Diverse Leadership board involved in over three successful start-ups
Use of Proceeds
$50,000
- 40% for Software development, 30% towards legal fees and licensing, 20% towards general operations, 12.5% towards miscellaneous expenses, 7.5% towards Wefunder fees
$250,000
- An additional $200,000 will allow us to begin our phase 2 advanced application with additional features and revenue streams. 50% advanced product launch and phase 2 development, 31.5% for marketing campaigns, 7.5% Wefunder fees, 6.25% API integration, 4.75% Legal fees, and licensing.
Management Team / Advisory Board Bios
Brad Starnes, CEO & Co-Founder
Brad has been a small-scale serial entrepreneur since he was 10. From his grass mowing business & retail sales to his web design & consulting business, his mindset never stops and his next idea is already brewing somewhere and somehow!
Joe Allen, COO & Co-Founder
Joe has had a substantial interest in the rental industry for the longest time with a narrow focus on Urban Planning. Joe has presented many ideas to the city of Kansas City on Urban Planning reform and continues to do the same with Splitsy!
Nolan McMichael, CFO & Co-Founder
Nolan has been a finance guru since he was born. Nolan spent time on his board with different organizations managing finances and has taken Splitsy to the next level!