Form D Worth Watching: Fleetwit $550000 Financing. David Metz Released Oct 18 Form D

Technology Fleetwit Inc. - David Metz

Fleetwit Financing

Fleetwit Inc., Corporation just submitted form D for $550,000 debt financing. This is a new filing. Fleetwit was able to sell $275,001 so far. That is 50.00% of the round of financing. The total private offering amount was $550,000. The private financing document was filed on 2016-10-18. The reason for the financing was: unspecified. The fundraising still has about $274,999 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Fleetwit is based in New York. The firm’s business is Other Technology. The SEC form was submitted by David Metz Chief Executive Officer. The company was incorporated in 2013. The filler’s address is: 401 Park Ave. South, New York, Ny, New York, 10016. David Metz is the related person in the form and it has address: 401 Park Ave South, New York, Ny, New York, 10016. Link to Fleetwit Filing: 000168738116000001.

Analysis of Fleetwit Offering

On average, firms in the Other Technology sector, sell 85.80% of the total offering amount. Fleetwit sold 50.00% of the offering. The fundraising is still open. The average offering size for companies in the Other Technology industry is $1.54 million. The offering was 82.14% smaller than the average of $1.54 million. Of course this should not be taken as negative. Businesses raise funds for different needs and reasons. The minimum investment for this offering is set at $0. If you know more about the reasons for the fundraising, please comment below.

What is Form D? What It Is Used For

Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.

Why Fundraising Reporting Is Good For Fleetwit Also

The Form D signed by David Metz might help Fleetwit Inc.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.

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