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Echofin

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Communication platform for Financial Teams: aka Slack for Traders and Investors

105%
 - 
Funded 29 Sep 2020
£300,000 target
£320,987 from 177 investors
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Business overview

Location New York, United States
Social media
Website www.echofin.com
Sectors Finance & Payments Digital B2B
Company number 6805417
Incorporation date 19 Mar 2018
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Investment summary

Type Equity
Valuation (pre-money) £8.6M
Equity offered 3.54%
Tax relief N/A
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Business highlights

  • 60k financial traders from over 160 countries on our MVP
  • $4.78M billed through Echofin to-date
  • Registered US Trademarks: Echofin® / Where Traders Meet®
  • Made front page on TechCrunch, ProductHunt, FinanceMagnates
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Key features

  • Secondary Market
  • Nominee investment min. £10.50 +

Idea

Introduction

When it comes to team communication and collaboration, there are many platforms out there: Slack/MS Teams for Enterprises/SMBs, Discord for Gamers, Bloomberg Messenger/Refinitiv for Financial Institutions.

Yet 300M retail traders//investors worldwide use whatever is available since there is no purpose built tool for them.

Echofin is an all-in-one communication platform for Financial Teams with focus on speed, performance and extensibility.

Over the past years, we've helped teams grow, engage and monetize their following by being a leader in this space.

Substantial accomplishments to date

* Over $4.6M in transactions processed through Echofin with just the MVP.

* $500k in pre-seed funding.

* Built a strong tech team with senior engineers with experience in enterprise and financial projects.

* Featured on the cover page of global news media (TechCrunch, ProductHunt, FinanceMagnates, ForexCrunch).

* ECHOFIN® and WHERE TRADERS MEET® are registered US trademarks of the company.

* Cited in a report by CBInsights titled 'The Disruption of the Bloomberg L.P' as one of the companies who are disrupting this market.

* Available for Web, Windows, Mac, Linux, iOS and Android.

* Awards and Recognitions: Nominated Best Educational Platform @ Benzinga Awards 2018, Winner Global awards FinanceMonthly 2018, Winner FinTech Awards FinanceMonthly 2020, Stripe Atlas, Microsoft for Startups Alumni, Member of PlugAndPlay Ventures TechCenter.

With just our MVP, we've reached 60,000 active traders and generated more than $4.6M in revenues for our teams.

Over the past year we've been heads down developing the new version of the Echofin platform, after heavy r&d, reverse engineering some of the best-in-their field platforms and leveraging cutting edge-technologies and testing them to their limits.

Having release the new version of the Echofin platform recently, it is now time to invite you and help us on our mission to scale the product from thousands of users to millions.

Monetisation strategy

Two main revenue streams are available in Echofin:

* SaaS based revenues. Team owners can purchase team management plans and addons.

* Transaction based revenues. Pay-to-access content in Echofin are premium chatrooms, financial widgets, webinars, courses.

What most communication platforms and tools fail to deliver, is the ability to offer users with pay-to-access chatrooms and services without requiring effort from the team owners, such as integrating third-party services, and payment processors.

This is where we shine. By providing a build-in billing and subscription mechanism, we streamline this problematic subscription process and keep a % revenue split on transaction. Users on Echofin can purchase directly from within the platform or from checkout links embeded into team creators websites.

Use of proceeds

Scale the technical and sales teams, build the marketplace to allow financial service and widget providers sell directly through Echofin. Execute marketing campaigns, participate in industry expos, partially cover running operating expenses.

The securities referred to herein are not being sold in the United States or to US persons, and may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States.

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To comply with financial regulations, we can only show full campaign details to registered users.

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £8,625,000

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

Warning

You are following a link outside of europe.republic.com.

None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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