Vanare reported launching a $750,000 mezzanine private placement. According to the filing, 33% or $250,000 was sold to four backers almost two weeks ago. The offering will remain open until May 2015 while an additional $500,000 worth of securities is sold to investors. Vanare is offering unregistered securities for the first time under regulation D of the Securities Act of 1933.
The company developed and markets a platform designed for wealth management advisory practices. The cloud-based platform integrates third party applications which cover the entire advisory workflow including client relationship management (CRM), financial planning, portfolio management and re-balancing, and client reporting.
Richard Cancro (CEO) leads the New York NY based company which was registered in 2012. Vanare kept its revenues undisclosed.
Status: First close
Industry: Other Technology
Amount offered: $750,000
Amount placed: $250,000
First sale: 05-01-2014
Data as of: 05-14-2014