Today we're happy to publish Fairmint's Q2 report. Our first ever report since the launch of our CSO ποΈ blog.fairmint.co/fairmint-q2-20β¦
Here is the main takeaway π
In Q2, Fairmint received $176,474 from 68 investors.
This was done without marketing or press (except the initial announcement) to get a sense of what the organic number would be.
Now the time has come to start our engine π«
As we started our CSO at a very low valuation, early investors already enjoy a hefty 2.52x return on their initial investment π°
On the business side, we focused Q2 on working on the 120+ inbounds we received to better understand the companies that were organically interested by Fairmint.
This enabled us to clearly sharpen our value proposition and sign our first 3 customers π
Q2 validated and even reinforced in Fairmint's core value proposition:
"Fairmint provides founders with the most effective solution to turn stakeholders into investors"
Interesting takeaway:
Companies we discussed with were not only interested in raising money but also very interested in rewarding their key stakeholders π
Be it to increase loyalty, boost acquisition, reduce churn, increase engagement etc...
Talking to many investors and prospects in Q2 also helped us identify a tremendous business opportunity for Fairmint that we'll be unveiling soon.
We can't tell you more just yet :)
Clearly, the world is shifting towards the ownership economy and there is no going back.
After raising $6M+, we've got a pretty clear idea of how raising w/ a rolling SAFE means following a brand new playbook as compared to traditional fundraising.
So we wanted to share some insights to help other founders succeed with their company's rolling fundraising π
1/ Raising funds with a rolling SAFE has nothing to do with any legal technicalities.
It's all about *how* you fundraise.
You're tapping into community capital and transforming your supporters into investors - so talk about what they're excited about.
2/ That means you sell your vision, not a financial instrument. Founders get excited about the rolling SAFE, some really want to market it to investors. But investors are investing in your vision, your productβ - βnot the contract you use to raise funds.
A digital, open & scalable alternative to the SAFE that enables fundraising on a rolling basis while turning a company's equity into a compelling community engagement tool: medium.com/fairmint/introβ¦
Fairmint was founded to transition the world toward a stakeholder capitalism πββοΈππββοΈ
Fairmint exists to give founders the opportunity to turn their equity into their most powerful community engagement tool.
The CAFE βοΈ was designed to make this vision a reality.
We partnered with @collins_belton & @lex_node to keep the simplicity of the SAFE while addressing the expectations of founders, investors & stakeholders: 1. Equitable access to the financial upside for all 2. Increased liquidity for investors 3. Long-term control for founders
The source code of our smart-contract is published under GPL v3 and available here: github.com/Fairmint/c-org
As you can see, it has 100% test coverage and the code is fully documented.
Our linear bonding-curve smart-contract is also fully specified, making it not only easier to understand but also easier to port to other blockchains if relevant for you.