Lustro Announces Completion of Seed Round of Funding
Jun 23, 2023
Charleston, South Carolina Jun 22, 2023 (Issuewire.com) - Crowd Diligence Inc, DBA "Lustro", a leading alternative investment aggregation platform, is excited to announce the recent completion of its seed funding round. The round was completed through an equity crowdfunding offering on WeFunder, a leading equity crowdfunding portal.
The company raised $222,685 through the issuance of convertible notes which will allow investors to convert into equity upon the next successful equity funding round. In addition, the company has converted a substantial amount of debt at its subsidiary, SoCapital, into a SAFE note which will also convert into equity upon the next successful round of funding. The total amount of debt converted is $232,399. SoCapital was acquired in the fall of 2021 in a stock-for-stock transaction that involved the assumption of previously issued debt and convertible notes.
"Raising this capital and converting the SoCapital debt into a SAFE has cleaned up the capital structure and cleared the path for future fundraising. We are excited to use the capital raised to continue adding services that are valuable to our growing investor community as well as services to assist Founders in their capital-raising journey" said Michael Knox, CEO of Lustro.
About Lustro
Lustro is a leading alternative investment aggregation company based in Charleston, South Carolina that acts as a diligence tool for its investor community and also connects investors with founders both before and after a capital raise. Lustro provides a secure and user-friendly platform for founders to showcase their ideas and allows investors to discover exciting investment opportunities. Lustro is dedicated to fostering transparency, trust, and growth within the crowdfunding industry. The Lustro team also operates the aggregation platform So.Capital as well as the small business for sale platform, MeWi.ai.
Source :Crowd Diligence Inc.
This article was originally published by IssueWire. Read the original article here.
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