Lego for Developers
- London, United Kingdom
Categories: SaaS/PaaS Digital B2B
Learn more about convertible campaigns.
It's been almost one and a half years since everything started. Thanks to you, Stamplay has come a long way, joined 500Startups, and built a leading development platform with paying clients and customers like VISA.
Our newly released integration engine received great feedback when it was featured on Product Hunt (https://www.producthunt.com/tech/flows-by-stamplay).
Our developer community is 20k strong and we signed a $50,000 pilot with VISA and now have inbound interest by US Bank. This proved our decision to make the workflow side of our product stronger was right.
Sherman Hu, who kickstarted enterprise sales at LinkedIn, joins us in an advisory role to help structure the sale process. We started working on pilot projects with 3 customers.
After 500Startups we raised $500k additional capital to accelerate our go-to-market to acquire enterprise-grade customers and further develop the product. We hope you'll want to keep being part of our journey and join the pre-emption campaign.
Convertible Key Terms
They key terms that apply to the Stamplay convertible are set out below and should be read in conjunction with the document publicly downloadable in the 'Documents' section. Please note that this convertible differs from the standard Seedrs convertible instrument:
• Valuation cap – US$3.5m
• Discount - conversion at a 20% discount to the share price set by the Next Equity Financing, subject to the valuation cap.
• Interest – this convertible carries a right to interest at a rate of 4% per annum, compounded annually. However, the interest will not become due or payable during the period of the convertible. The interest will either be aggregated with the principle investment and converted to equity at the time of conversion or, at Stamplay’s option, the interest will be paid to investors at the time the principle investment converts to equity.
• Trigger events. There are three categories of events which would trigger a conversion (“Trigger Events”). The price of conversion depends on the type of Trigger Event. The Trigger Events and conversion prices are summarised in the table publicly downloadable from the 'Documents' section.