Hundy (2021)
About this raise
Hundy, with a valuation cap of $5.75 million, is raising funds on StartEngine. The company helps America’s middle-class people to take small amounts of peer-to-peer loans through its mobile app. Hundy allows people to bypass the time-consuming bank channel and use their creditworthiness to avail of small loans. The application rewards both borrowers and lenders through a point system. Hundy was founded by Pete Budlong and Ram Hegde in 2016 and has raised more than $1 million since its inception. The current crowdfunding round has a minimum goal of $10,000 and a maximum goal of $396,725, and the funds will be used to expand the geographical reach. Hundy has had over 10,000 loans originated from its platform with a total loan volume of $1.1 million. The services are available in nine states currently, with expected expansion to 18 states by 2021.
Investment Overview
Invested : $96,798
Deal Terms
Total Commitments
- Platform
- StartEngine
- Start Date
- 12/30/2020
- Close Date
- 07/27/2021
$10,000
$396,725
$200
Convertible Note
Early Stage
RegCF
$5,750,000
20%
Company & Team
Company
- Year Founded
- 2016
- Industry
- Financial & Insurance Products & Services
- Tech Sector
- Distribution Model
- C2C
- Margin
- Medium
- Capital Intensity
- Low
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