Referly initiates first close of $300,000 on its debt private placement

A first close of $300,000 was initiated by Referly on its fundraising effort started this month. 30% of the $1 million non-brokered debt offering was placed with three investors. The company has a year to raise an additional $700,000 in funding. This is the second time the company is raising money. The prior financing round raised an estimated $1 million in debt. Investors include New Enterprise Associates, Ignition Partners and 500 Startups.

The company designed an online referral application for social networks. The company leverages affiliate linking programs and makes it easy for users to get a small percentage when they drive customers that make purchases to other sites. According to the company’s website, Referly is departing from its core concept following the acquisition of LaunchGram in February this year.

Danielle Morrill (President) leads the San Francisco CA based company which was registered in 2012. Referly elected not to disclose its revenues.

Offering recap
Status: First close
Company: Referly Inc
Industry: Other Technology
Amount offered: $1 million
Amount placed: $300,000


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