Important Form D Filing: Splitwise $5.06 million Fundraising. Jonathan Bittner Filed Oct 31 D Form

Technology Splitwise Inc. - Jonathan Bittner

Splitwise Financing

Splitwise Inc., Corporation just filed form D for $5.06 million equity financing. This is a new filing. Splitwise was able to sell $5.03 million. That is 99.51% of the offering. The total fundraising amount was $5.06 million. This form was filed on 2016-10-31. The reason for the financing was: unspecified. The fundraising still has about $25,002 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Splitwise is based in Rhode Island. The filler’s business is Other Technology. The form D was submitted by Jonathan Bittner President. The company was incorporated in 2012. The filler’s address is: 150 Union Street, #606, Providence, Ri, Rhode Island, 02903. Jonathan Bittner is the related person in the form and it has address: 150 Union Street, #606, Providence, Ri, Rhode Island, 02903. Link to Splitwise Filing: 000156373116000003.

Analysis of Splitwise Offering

On average, companies in the Other Technology sector, sell 85.80% of the total offering size. Splitwise sold 99.51% of the offering. The financing is still open. Could this mean that the trust in Splitwise is high? The average fundraising size for companies in the Other Technology industry is $1.54 million. The total amount raised is 226.84% bigger than the average for companies in the Other Technology sector. The minimum investment for this offering is set at $0. If you know more about the reasons for the financing, 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 Splitwise Also

The Form D signed by Jonathan Bittner might help Splitwise 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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