Max Bauermeister

So we launched in 2017 in February actually.

Uh, that's, that's the original founding date.

So we raised, uh, just shy of a million, I would say altogether in a, uh, in an initial race we raised around, yeah,

Just shy of half a million to build a product, essentially.

And then we raised another just shy of $500,000 this year.

And since this year, we were basically live and launched the product in April with the first customers.

Yeah, for sure.

So, um, basically it was, it was the easier solution for us right now, right?

We, we didn't want to spend time, uh, through all, um, you know, go through all the, with all the sort of bureaucratic hurdles, uh,

of having to basically go through and also we weren't sure what the current valuation was really like and we didn't want to force us or

the angels or the syndicates into a situation where they would have to basically evaluate what the company is worth.

So we wanted to have the professional investors basically give their indication next year and then

the angels and, um, the syndicate sort of, um, a fair chance to jump on board right now.

Um, and, um, you know, not have to guess some sort of valuation right now.

Uh, no, no, basically it was, it was just, um, it was just that we didn't want to have the bureaucratic, um, hurdles of raising.

So, so in the first round we, we had, we gave away equity, right.

Um, but in the second round it was a convertible, uh, note essentially.

Um, and yeah, that was just, uh, for ease of the process, right.

Because we don't have to basically, um, run it through the notary as in Germany, here's the case, for example.

So right now we have approximately between, I think it's about 700, 800 end users, essentially, consisting of approximately 25 B2B customers.