Group travel app raises $313,000 on its $571,000 offering

A first close of $313,000 was initiated by Travefy on its fundraising effort started this month. 55% of the $571,000 non-brokered equity offering was placed with eight investors. The company will attempt to raise an additional $259,000 in funding before the end of the offering a year from now. This is the first time Travefy is raising money on the private placement market. Linseed Capital an angel investor part of the Nebraska Angels investment group invested in the company.

The company develops a free application to plan group travel while solving the coordination headaches of travel. Through Travefy users can invite friends to travel, collaborate on details, book hotels, and manage shared expenses. Travefy was released to a controlled beta in April 2013 and the full product beta was released in September 2013.

David D. Chait (Founder and CEO) leads the Lincoln NE based company which was registered in 2012. Travefy elected not to disclose its revenues.
The executive team includes Chris Davis (Founder and CTO).

Offering recap:
Status: First close
Company: Travefy Inc
Industry: Other Technology
Amount offered: $571,000
Amount placed: $313,000


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