Quikly disclosed selling 56% of its $900,000 non-brokered financing round to one investor. According to the filing, $500,000 worth of equity was subscribed a little over a week ago. $400,000 in additional funding can be raised before February 2015 based on the placement’s structure. The company closed three previous unregistered private placements which raised an estimated $1.77 million. The company is backed by seed and early stage investment firm Detroit Venture Partners.
The company develops and markets a mobile application releasing “Quiklys”. Quiklys are short term offers for which users have to opt-in ahead of their release. Once released, the quicker users claim them, the better the reward. Offers are released at random and players are notified the moment they go live.
The company, headquartered in Detroit MI, was registered in 2012. Quikly elected to keep its revenues undisclosed. The executive team includes Gabe Karp, Josh Linkner, Scott Meves and Shawn Geller.
The company has raised an estimated total of $2.27 million via private unregistered security offerings.
Status: First close
Amount offered: $900,000
Amount placed: $500,000
First sale: 02-26-2014
Data as of: 03-07-2014