This company is no longer in business. Investors can get details about any potential exits or failures here.

Linen

Linen

Early Stage

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Overview

Raised to Date: Raised: $27,472

Total Commitments ($USD)

Platform

Republic

Start Date

12/04/2019

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%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

01/30/2021

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$67

# of Investors

4,529

Momentum
Funded
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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

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.

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

Financials as of: 12/04/2019
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Linen 10/12/2021 Republic $22,000,000 $4,900,000 SAFE Funded RegCF
Linen 01/15/2021 Republic $19,800,000 $27,472 SAFE Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

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.

Employee History

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Linen App on Republic
Platform: Republic
Security Type: SAFE
Valuation: $19,800,000

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