Amber raising Bridge Round via SAFE Note

Amber is conducting a funding round to accelerate growth prior to large scale Series A capital raise. Details as follows.

Roadmap to Date:

2018:

  • Founding team
  • Proof of concept
  • $1m Seed
  • First crypto company in the country with investment from a major university (QUT)
  • Core Product Development
  • Acquired Fabric Corp – Payment & financial data tech

2019

  • Commercialisation
  • Public Beta in market (March)
  • 1000 user validation (Product Market Fit, CAC + ARR)
  • $5m AUD Series A for scale (late 2019/early 2020)
  • $250k under management to date
  • Growing at 30% MoM
  • Expansion into UK + EU by Q4 2019
  • Next step: scale + bridge funding

Bridge Funding

Amber is raising a pre-series A funding round via SAFE note, giving investors the benefit of acquiring shares in the company at a discount on Series A conversion.

Shares converted from the SAFE notes will be discounted by 30%. The total amount being raised is strictly limited to $400,000 AUD.

Amber qualifies as an ESIC, which entitles Investors to a 20% tax credits immediately, along with 100% capital gains offset (ie; tax free upside).

The benefit of a SAFE note is speed & transparency for both parties (company & investors).

This is a rare opportunity to participate alongside a line up of major international VC’s on Series A, whilst acquiring not only a discount on the share price, but a 20% tax rebate & 100% CGT offset.

Purpose

This bridge round allows Amber to accelerate their customer acquisition, and drive to their 10,000 user mark ($1m Annual recurring revenue) aggressively.

The $5m Series A, is then poised to drive toward the next major target; 100k users + expansion to UK + EU.

Status

$300k closed since announcing two weeks ago.

Parcel sizes as follows:

Investment Range
Investor Minimum Maximum
Existing Investors $2,500 $50,000
New Investors $25,000 $100,000
Total $200,000 $400,000

 

About Amber

Amber is a Bitcoin exchange, wallet & micro-investment app – all in the palm of your hand.

We’re leveraging the world’s fastest-growing and best-performing asset classes to deliver a mobile-first, automated investment platform for the retail market. We’ve chosen to begin with bitcoin because of its inherent asymmetries, open access, security guarantee & the fact that it’s digitally native.

Amber is a rare opportunity to get exposure to this market by investing in the infrastructure, or “shovels” being built on and around the most exciting new asset in the world today.

Register Interest