Krowdfit, Inc., Corporation just filed form D about $3.27 million equity financing. The date of first sale was 2015-12-16. Krowdfit was able to finance itself with $3.02 million. That is 92.35% of the financing round. The total offering amount was $3.27 million. The offering form was filed on 2016-11-08. The reason for the financing was: unspecified. The fundraising still has about $250,002 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Krowdfit is based in Alabama. The filler’s business is Other Technology. The form D was submitted by Jim Miller President. The company was incorporated more than five years ago. The filler’s address is: 227 Bellevue Way Ne, Suite 701, Bellevue, Wa, Washington, 98004. Jim Miller is the related person in the form and it has address: 227 Bellevue Way Ne, Suite 701, Bellevue, Wa, Washington, 98004. Link to Krowdfit Filing: 000153936616000003.
Analysis of Krowdfit Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Krowdfit sold 92.35% of the offering. The financing is still open. Could this mean that the trust in Krowdfit is high? The average offering size for companies in the Other Technology industry is $1.54 million. The total amount raised is 95.92% bigger than the average for companies in the Other Technology sector. The minimum investment for this financing 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 Krowdfit Also
The Form D signed by Jim Miller might help Krowdfit, 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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