Coinseed
bridge for the massesto adopt crypto in the mostseamless way
Overview
Raised: $57,553
Total Commitments ($USD)
Platform
Mr. Crowd
Start Date
01/02/2020
Close Date
04/30/2020
Min. Goal
$25,000
Max. Goal
$400,000
Min. Investment
$1
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$6,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/03/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$484
# of Investors
140
Momentum
Funded
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Year Founded
2017
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Coinseed, an innovator in the cryptocurrency space, is raising funds on Mr. Crowd. The company is creating the technology that allows users to invest their spare change in a portfolio of cryptocurrencies and receive cryptocurrency cashback rewards on their purchases. Coinseed was founded by Delgerdalai Davaasambuu and Sukhbat Lkhagvadorj in 2017. The current round of crowdfunding of Coinseed has a minimum target of $25,000 and a maximum target of $400,000, and the funds will be used to develop more innovative features and accelerate the growth of the business. Coinseed generated revenues of over $279,000 in 2018 and the user base has increased to more than 29,000. The total user deposit on Coinseed reached $3.5 million in December 2019, with a total trade volume of more than $42 million in the second half of 2019.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$279,257 |
$8,056 |
|
COGS |
$142,362 |
$2,731 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-57,113 |
$-2,125 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$536,738 |
$711,421 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$536,738 |
$711,421 |
|
Short-Term Debt |
$528,662 |
$673,466 |
|
Long-Term Debt |
$141,410 |
$0 |
|
Total Liabilities |
$670,072 |
$673,466 |
Financials as of: 01/02/2020
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Coinseed | 04/30/2020 | Mr. Crowd | $6,000,000 | $57,553 | SAFE | Funded | RegCF |
| Coinseed | 09/16/2019 | SeedInvest | $6,000,000 | $0 | Convertible Note | Not Funded | RegCF / RegD 506(c) |
| Coinseed | 03/25/2019 | Microventures | $5,000,000 | $130,763 | Convertible Note | Funded | RegCF |
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