About this raise

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.

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Investment Overview

Invested this round: $57,553

Deal Terms

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    Open SEC Filing

Valuation Cap

$6,000,000

Discount

20%

Company & Team

Company

Year Founded
2017
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
Wilmington, Delaware
Business Type
High Growth
Company Website
Visit Website

Team

Employees
5
Founder Name
Delgerdalai Davaasambuu
Title
CEO
Founder Name
Merlin Kauffman
Title
Co-Founder

Financials

 Revenue
$279,257
 Monthly Burn
$4,759
 Runway
24+ months
Gross Margin
49%

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/30/2020 Mr. Crowd $6,000,000 $57,553 SAFE Funded RegCF
09/16/2019 SeedInvest $6,000,000 $0 Convertible Note Not Funded RegCF / RegD 506(c)
03/25/2019 Microventures $5,000,000 $130,763 Convertible Note Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Coinseed on Mr. Crowd
Platform: Mr. Crowd
Security Type: SAFE
Valuation: $6,000,000

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