XDATA – October 6th 2014
A $11 million unregistered equity financing by Elo7 successfully drew to a close. The non-brokered investment round was placed among nine investors. The subscription started last Wednesday. Until this disclosure Elo7 had raised an estimated $4.99 million in unregistered securities via one previous financing round. The amount offered reported to the SEC represents the portion of the placement earmarked by the company for US investors.
The company is Brazil-based online marketplace for buying and selling hand-crafted products. The company is backed by Accel Partners and Monashees Capital.
The company, headquartered in Grand Cayman Cayman Islands, is led by Carlos Curioni (CEO). Elo7 elected to keep its revenues undisclosed.
The board of directors includes Eric Acher, Jeff Lieberman and Kevin Efrusy.
The company has raised an estimated total of $15.99 million via private unregistered security offerings.
Elo7 is registered under the name Elo 7
Industry: Other Technology
Amount offered: $11 million
Amount placed: $11 million
First sale: 10-01-2014
Data as of: 10-06-2014