Form D Reporting: Snapcard $5.86 million Fundraising. Ioannis Giannaros Filed Nov 8 D form

Snapcard, Inc. - Ioannis Giannaros

Snapcard Financing

Snapcard, Inc., Corporation just released form D about $5.86 million equity financing. This is a new filing. Snapcard was able to finance itself with $5.55 million. That is 94.74% of the financing round. The total private financing amount was $5.86 million. This form was filed on 2016-11-08. The reason for the financing was: $1,287,029.45 of the Total Amount Sold was purchased through the conversion of debt.. The fundraising still has about $308,264 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Snapcard is based in California. The company’s business is not disclosed. The form was filed by Ioannis Giannaros Chief Financial Officer. The company was incorporated in 2013. The filler’s address is: 660 4Th Street, Suite 462, San Francisco, Ca, California, 94107. Michael Dunworth is the related person in the form and it has address: 660 4Th Street, Suite 462, San Francisco, Ca, California, 94107. Link to Snapcard Filing: 000162498116000004.

Analysis of Snapcard Offering

On average, companies in the not disclosed sector, sell 67.77% of the total offering size. Snapcard sold 94.74% of the offering. The financing is still open. Could this mean that the trust in Snapcard is high? The average fundraising size for companies in all industries in our database is $3.05 million. The total amount raised is 82.09% bigger than the average for companies in the database. The minimum investment for this offering was 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 Snapcard Also

The Form D signed by Ioannis Giannaros might help Snapcard, 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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