Fig Tech Financing
Fig Tech Inc., Corporation just had published form D because of $1.10 million equity financing. The date of first sale was 2016-07-29. Fig Tech was able to sell $1.10 million. That is 100.00% of the round of financing. The total private financing amount was $1.10 million. The form was filed on 2016-11-14. The reason for the financing was: unspecified.
Fig Tech is based in New York. The filler’s business is Other Banking and Financial Services. The form D was submitted by JEFFREY ZHOU PRESIDENT & CHIEF EXECUTIVE OFFICER. The company was incorporated in 2016. The filler’s address is: 335 Madison Avenue, 16Th Floor, New York, Ny, New York, 10017. Jeffrey Zhou is the related person in the form and it has address: 335 Madison Avenue, 16Th Floor, New York, Ny, New York, 10017. Link to Fig Tech Filing: 000168167016000005.
Analysis of Fig Tech Offering
On average, startups in the Other Banking and Financial Services sector, sell 60.00% of the total offering size. Fig Tech sold 100.00% of the offering. Could this mean that the trust in Fig Tech is high? The average financing size for companies in the Other Banking and Financial Services industry is $1.58 million. The offering was 30.02% smaller than the average of $1.58 million. Of course this should not be seen as negative. Startups get financed for a variety of reasons and needs. 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 Fig Tech Also
The Form D signed by JEFFREY ZHOU might help Fig Tech 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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