Amber is conducting a funding round to accelerate growth prior to large scale Series A capital raise. Details as follows.
Roadmap to Date:
- 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
- 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
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.
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.
$300k closed since announcing two weeks ago.
Parcel sizes as follows:
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.