Renew.Com Inc., Corporation just released form D announcing $3.00 million equity financing. This is a new filing. Renew.Com was able to finance itself with $2.02 million so far. That is 67.33% of the fundraising. The total financing amount was $3.00 million. The private financing document was filed on 2016-11-18. The reason for the financing was: unspecified. The fundraising still has about $980,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Renew.Com is based in California. The firm’s business is not disclosed. The D form was submitted by Kevin Nazemi Chief Executive Officer. The company was incorporated in 2016. The filler’s address is: 548 Market Street, #74617, San Francisco, Ca, California, 94104. Kevin Nazemi is the related person in the form and it has address: C/O Renew.Com Inc., 548 Market Street, #74617, San Francisco, Ca, California, 94104. Link to Renew.Com Filing: 000169027016000001.
Analysis of Renew.Com Offering
On average, startups in the not disclosed sector, sell 67.77% of the total offering size. Renew.Com sold 67.33% of the offering. The fundraising is still open. The average investment offering size for companies in all industries in our database is $3.05 million. The offering was 33.77% smaller than the average of $3.05 million. Of course this should not be taken as negative. Companies raise funds for different needs and reasons. 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 Renew.Com Also
The Form D signed by Kevin Nazemi might help Renew.Com 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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