Kickfurther addresses the inventory cash flow problem faced by many fast growing consumer Brands that must provide ever increasing amounts of capital caused by the time duration between buying inventory to manufacture products and the generation of cash revenue upon selling the product (ie, the working capital cycle). Kickfurther’s marketplace matches Brands that need capital to purchase inventory with a community of Buyers who are willing to purchase inventory on consignment in exchange for a participation in the profits upon sale.
|Asset Type||Consignment Inventory Finance|
Please give a brief history of the company and, if applicable, group structure.
Kickfurther provides consignment inventory finance to eCommerce and retail brands (“Brand”). Kickfurther’s marketplace matches Brands that need capital to purchase inventory with a community of buyers (“Buyers”) who are willing to purchase inventory on consignment (a “Co-Op”) in exchange for a participation in the profits upon sale. Kickfurther was launched in 2014 and (as of August 28, 2020) has helped raise over $48 million for over 895 business Co-Ops with funding from over 21k Buyers and over 70% repeat business.
Please give a overview of the legal structure.
END_Bridge LLC (“EB”) is an entity created by Jason Jones, Commercial Lead at Centrifuge. EB has entered into an agreement with Centrifuge to operate special purpose vehicles designed to facilitate transactions on Tinlake at the lowest possible cost to investors. EB will launch Kickfurther Series One LLC and enter into an institutional purchase agreement to become a Buyer on the Kickfurther platform with access to every deal orignated by Kickfurther. EB will bridge Kickfurther’s assets to Decentralized Finance (“DeFi”).
How many full-time equivalent team members do you have and what do they do?
Kickfurther has six full time employees and three advisors: https://www.kickfurther.com/about
Have you sold equity? Are you venture funded, if so please describe the previous rounds, money invested, and lead investors.
Kickfurther is venture funded and has raised money from Draper Associates among other investors. The firm has raised $2.3m in seed funding to date and is likely to close a Series A in the coming months. https://www.crunchbase.com/organization/kickfurther
Is your business sustainably profitable or well funded with sufficient cash runway?
Kickfurther’s cash runway is dependent on closing its Series A.
Describe the asset collateral that you seek to finance.
Consignment Inventory Finance
Describe your previous track record related to this business proposal.
What is the average collateral asset size?
Describe the risk of the assets you are proposing. How do you evaluate and manage that risk?
Please describe any conflicts of interest or potential conflicts of interest or any relationship that could compromise or be viewed to compromise the decision making of the company.
Are there or have there in the last 10 years, been any criminal, civil, regulatory or administrative proceedings against (i) the Company or any of its principals or (ii) the product in any similar such matters including reparations, arbitrations, and negotiated settlements? If so, please describe.
Are there any further disclosures that interested party should be aware of?
(note: this questionnaire has been produced by END_Bridge LLC )