Linen

Linen

Closed: Jan. 2021

About this raise

Linen App, with a valuation cap of $19.8 million, is distributing Rewards (SAFE) on Republic. The application allows retail investors to access alternatives to bonds and peer-to-peer loans. Linen App uses high-end technology to enable the use of blockchain by investors in the form of stablecoins and provides access to liquidity pools on the Ethereum blockchain. The company was founded in June 2018 by Vitaly Bahachuk and Alex Bazhanau, and is backed by Coinbase, Were Capital, HashKey Capital, and Polychain Capital. Linen App already has 3,500 people signed up on the waitlist. Republic participants receive $10 worth of equity (SAFE) and early access.

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Investment Overview

Invested this round: $27,472

Deal Terms

Total Commitments ($USD)

Platform
Republic
Start Date
12/05/2019
Close Date
01/16/2021
Min. Goal
$1,000
Max Goal
$300,000
Min. Investment

$10

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$19,800,000

Discount

0%

Company & Team

Company

Year Founded
2018
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Location
San Francisco, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
2
Founder Name
Vitaly Bahachuk
Title
COO
Founder Name
Alex Bazhanau
Title
CEO and CTO

Financials

 Revenue
$0
 Monthly Burn
$26,484
 Runway
9.4 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-317,804

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$248,000

$0

Accounts Receivable

$0

$0

Total Assets

$675,115

$0

Short-Term Debt

$68,819

$0

Long-Term Debt

$0

$0

Total Liabilities

$68,819

$0

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
10/13/2021 Republic $22,000,000 $4,900,000 SAFE Funded RegCF
01/16/2021 Republic $19,800,000 $27,472 SAFE 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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Add to portfolio
Linen App on Republic
Platform: Republic
Security Type: SAFE
Valuation: $19,800,000

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