Linen

Build wealth with the ownership economy

Analytics

Raised to Date: $2,810,883

Aggregate Commitments $
Platform

Republic

Start Date

02/24/2021

Close Date

01/01/2022

Min. Goal

$25,000

Max. Goal

$4,900,000

Min. Investment

$200

Security Type

SAFE

Funding Type

RegCF

Series

Series A

Valuation Cap

$19,800,000

Discount Rate

0%

Rolling Commitments $
Status

Active

Reporting Date

04/21/2021

Days Remaining

253

% of Min. Goal

11,244%

% of Max. Goal

57%

Likelihood of Max
extremely
Avg. Daily Raise

$50,194

# of Investors

3,200

Momentum
warm
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Location

San Francisco, California

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Business Type

High Growth

Linen, with a valuation cap of $22 million, is raising funds on Republic. The application has been developed to allow retail investors to access alternatives to bonds and peer-to-peer loans. Linen will use 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, Alex Bazhanau, and Max Okala-Kulak, and is backed by Coinbase, Were Capital, HashKey Capital, and Polychain Capital. The current crowdfunding round has a minimum raise of $25,000 and a maximum raise of $500,000, and the funds will be used to launch new functionalities, implement scalability solutions, and connect the app to the broader DeFi ecosystem. Linen has already found its product-market fit with its low operating costs and scalable growth.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$998

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-353,422

$-349,622

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$193,308

$225,251

Accounts Receivable

$0

$0

Total Assets

$661,147

$637,106

Short-Term Debt

$59,091

$66,628

Long-Term Debt

$0

$0

Total Liabilities

$59,091

$66,628

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Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
01/01/2022 Republic $19,800,000 $2,810,883 SAFE Active RegCF
01/16/2021 Republic $19,800,000 $27,472 SAFE Confirmed Closed RegCF
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