TransitNet

Early Stage

TransitNet brings title to crypto

Analytics

Raised to Date: Raised: $0

Aggregate Commitments $

Platform

Wefunder

Start Date

06/14/2022

Close Date

04/30/2023

Min. Goal

$50,000

Max. Goal

$5,000,000

Min. Investment

$250

Security Type

SAFE

Funding Type

RegCF

Series

Series A

Price Per Share

$0.00

Valuation Cap

$16,000,000

Discount Rate

0%

Rolling Commitments $

Status

Active

Reporting Date

06/25/2022

Days Remaining

309

% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
unlikely
Avg. Daily Raise

$0

Momentum
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Location

Manhattan Beach, California

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Business Type

High Growth

TransitNet, with a valuation of $16 million, is raising funds on Wefunder. The company aims to provide titles to cryptocurrencies so that they become safe and can be used as collateral for loans. TransitNet is creating a title registry to confirm ownership of digital currencies in the crypto wallets. TransitNet is led by an experienced team and plans to help crypto reach its full potential. It is solving complex investor pain points and has been featured in Bloomberg, TechCrunch, Business Insider, and US News. Eric Jackson and Christopher Grey founded TransitNet in January 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $5,000,000. The campaign proceeds will be used for product development, software and servers, marketing and sales, and hiring.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$9,797

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-975,340

$-30,238

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,294,113

$5,000

Accounts Receivable

$1,089

$0

Total Assets

$1,335,202

$55,000

Short-Term Debt

$162,677

$35,238

Long-Term Debt

$2,128,103

$0

Total Liabilities

$2,290,780

$35,238

Financials as of: 06/14/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
TransitNet 04/30/2023 Wefunder $16,000,000 $0 SAFE Active RegCF
TransitNet 04/30/2021 Wefunder $6,000,000 $1,925,177 SAFE Funded RegCF
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TransitNet on Wefunder 2022
$
Platform: Wefunder
Security Type: SAFE
Valuation: $16,000,000
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