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Echofin

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

105%
 - 
Funded 17 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
  • Seedrs nominee min. £10.50 +
  • Idea
  • Team
  • Updates
  • Investors 177
  • Discussion
  • Documents

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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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

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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 ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. 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 Seedrs 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 Seedrs 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.

Seedrs does not make investment recommendations to you. No communications from Seedrs, 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. Seedrs 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 Seedrs, you should consult a professional adviser.

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Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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For information on how Seedrs uses your personal data, please review our Privacy Notice.
Seedrs small logo

Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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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.
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 rounded from £8,625,000

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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 or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.