Unbanked
Connecting DeFi and cryptocurrencies to banks, cards, and other legacy finance
- Security Type
- Crowd SAFE
- Categories
- Technology
- Min Investment
- $150
- Location
-
ALPHARETTA, GA
- Offering Date
- January 24, 2022
- Expected Close Date
- September 03, 2022
- Amount Raised
- $1,947,443
- Target Raise
- $25K-$5M
- No. Investors
- 2
- Security Price
- $1
- Number of Employees
- 9
- Cash
- $928,804
- Revenue
- $19,850,760
- Short Term Debt
- $5,035,464
- Cost of Goods
- $14,700,506
- Long Term Debt
- $2,418,078
- Net Income
- $114,063
Company Description
Unbanked offers a suite of financial products designed to give your cryptocurrency real-world utility. Whether pairing with one of today’s leading payment digital payment platforms like Apple Pay, or swiping your card in person at one of the millions of supported locations worldwide, Unbanked puts your money back in your hands.
Key Deal Facts
A global neo-bank platform built on blockchain technology
VISA FastTrack Enablement partner for B2B Card Issuing & Program Management
Bank accounts are available in over 200 countries & territories
Audited revenue: $1.7M in 2019, $9.3M in 2020, $20M forecasted in 2021
2 previous oversubscribed rounds—totaling $1.4M raised
Blockchain- and cryptocurrency-agnostic
Over 10 white label customers including Paxful, Nexo, Litecoin Foundation
Security Description
An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.