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Invest in SIFT

 An award-winning financial app disrupting the $1T credit card debt market

  • $602,511Amount raised
  • $10,000Minimum
  • $10,000,000Valuation cap

Purchased securities are not currently tradeable. Expect to hold your investment until the company lists on a national exchange or is acquired.

SIFT is accepting investments for an Offering under Regulation D through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.50% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. The contents of the Highlights, Term Sheet sections have been prepared by SI Securities, LLC (“SI Securities”) and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by SIFT without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially. Investors are cautioned not to place undue reliance on these forward-looking statements as they are meant for illustrative purposes and they do not represent guarantees of future results, levels of activity, performance, or achievements, all of which cannot be made. Moreover, no person nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements, and is under no duty to update any such statements to conform them to actual results.


Company Highlights

  • Over 295K installs on Apple and Android devices and 170k+ users
  • Backed by early investors from other Fintech success stories (Mint, Nerdwallet, Lending Club, Paypal)
  • Graduate of Plug and Play Fintech accelerator program; Google Play "Best daily helper app" of 2018 and CNET best newcomer app of 2018
  • Unique Patent-pending solution to track credit card data
  • In final stages of signing an agreement with a major insurance company to help power their credit cards in Latin America

Fundraise Highlights

  • Total Amount Raised: US $602,511
  • Total Round Size: US $1,500,000
  • Raise Description:  Seed
  • Minimum Investment:  US $10,000 per investor
  • Security Type:  SAFE Note
  • Valuation Cap:  US $10,000,000

Every year, consumers miss out on $80B due to unused credit card benefits, unfair high APRs and late fees. Our patent-pending solution uses machine learning to “sift” out the fine print of credit cards and make a dent in the $1T card market.


PROBLEM: We love our credit card rewards and benefits but in reality, they cost consumers $150B every year due to artificially high-interest rates and late fees. Credit Card debt is at an all-time high and has surpassed $1 Trillion dollars for the first time. Although over $400B of this debt is held by creditworthy consumers who could refinance at a much lower interest rate (~10% less), friction, complexity, and lack of awareness prevent consumers from taking advantage.

SOLUTION: This is where Sift comes in. Sift automates the optimal behavior that maximizes cashback and perks while minimizing costs. Sift then identifies consumers with a high debt burden and for creditworthy consumers, automatically offers to refinance at a much lower interest rate while avoiding most of the friction typically involved in the process. Our goal is to make this complex process into a "one-click" experience where a lower interest line of credit is automatically used to pay your revolving credit card balances.

“ARBITRAGE” BUSINESS MODEL: Sift is creating a funnel to connect these creditworthy borrowers with credit card debt to banks who are hungry for loan volume. By sitting in the middle, Sift is able to make a large transaction fee of $300-500 (3-5% of the loan value and in the future a 1% recurring revenue fee). A small dent in this market (250,000 refinancings/year or 0.5% of the market) can lead to a large company ($100M annual revenue).

SAAS BUSINESS MODEL (for financial institutions): Financial institutions have recognized the value of Sift’s solution and the long term value of greater transparency and engagement with their customers. Our first major client which plans to deploy to all of their cardholders in South America (over 10 million users) with an annual contract value of $500K in phase 1.  

Media Mentions

The Team

Founders and Officers

Janne is a mobile pioneer building successful mobile products and businesses. He conceptualized one of the first mobile gaming platforms, led the development of a Smartphone SW platform to 100M users and grew a location-based services business from scratch to $100M. Prior to Sift, he was the global head of strategy for the Microsoft App division. Janne has an MS in Economics from Aalto University (Helsinki, Finland).

Janne Salminen

CEO

Janne is a mobile pioneer building successful mobile products and businesses. He conceptualized one of the first mobile gaming platforms, led the development of a Smartphone SW platform to 100M users and grew a location-based services business from scratch to $100M. Prior to Sift, he was the global head of strategy for the Microsoft App division. Janne has an MS in Economics from Aalto University (Helsinki, Finland).

Ramesh is the cofounder and CTO of Sift. Ramesh has been a technical architect for a number of venture funded startups (including July systems and eVector) worked on the forefront of the Internet and mobile technologies in projects that converge of various disparate domains: Internet and telecom, banking and mobility and applications and performance engineering. He is a two times robotics champion at IIT. Ramesh has a BS in Electrical Engineering from IIT Bombay.

Ramesh Varma

CTO

Ramesh is the cofounder and CTO of Sift. Ramesh has been a technical architect for a number of venture funded startups (including July systems and eVector) worked on the forefront of the Internet and mobile technologies in projects that converge of various disparate domains: Internet and telecom, banking and mobility and applications and performance engineering. He is a two times robotics champion at IIT. Ramesh has a BS in Electrical Engineering from IIT Bombay.

Abhinav has helped develop cutting edge mobile products from the first generation of Smartphones, wifi mesh networks, m2m and voice recognition technologies. He was also previously COO of venture funded mobile startup (raised $18 million, acquired by Digi) based out of Bangalore. Prior to the Sift he was a director of strategy at Microsoft and also lead strategy for the Americas region for Nokia (responsible for a quarter of total revenue). Abhinav has an MBA from Harvard and a BS and MS in electrical and computer engineering from Rice University.  

Abhinav Dubey

COO

Abhinav has helped develop cutting edge mobile products from the first generation of Smartphones, wifi mesh networks, m2m and voice recognition technologies. He was also previously COO of venture funded mobile startup (raised $18 million, acquired by Digi) based out of Bangalore. Prior to the Sift he was a director of strategy at Microsoft and also lead strategy for the Americas region for Nokia (responsible for a quarter of total revenue). Abhinav has an MBA from Harvard and a BS and MS in electrical and computer engineering from Rice University.  

Notable Advisors & Investors

Liquid 2 Ventures
Plug and PLay
Band of Angels
Joe Montana

Investor, Liquid Ventures, Managing Partner

Mark Lefanowicz

Investor, MD Summer Fenway Ventures (Early Credit Karma investor/board member)

Saaed Amidi

Investor, Founder Plug and Play, early investor Paypal, DropBox, Lending Club

Sy Fahimi

Investor, First Mint Investor and for VP of advertising at Yahoo

Duke Dayal

Investor, Former CEO, Santander Bank US

Rakesh Sood

Investor, Sood ventures, early investor Evernote

Shayna Moderasi

Investor, Managing Partner, Lodestar ventures

Sophia Collier

Investor, Founder of Soho Natural Soda and Efund

Ari Tulla

Investor, CEO Quest Analytics, Angel investor

Anton Gauffin

Investor, Serial Entrepreneur and Angel Investor, Founder & CEO of Huuuge Games

Scott Kim

Advisor, Former CEO, Bankrate

Lee Sendorov

Advisor, Former CMO Shopular

Investor Perks

Investments  $20,000 +

Premium Patagonia Vest with SIFT logo.

Investments $50,000+

All of the above + Bi-annual investor update  call with the CEO.

Investments $100,000+

All of the above + Quarterly 1-1 call with the CEO.

It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

Frequently Asked Questions

Making an Investment in SIFT
How does investing work?

When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by SIFT. Once SIFT accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to SIFT in exchange for your securities. At that point, you will be a proud owner in SIFT.


What is the difference between preferred equity and a convertible note?

Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.

A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.

To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.


What will I need to complete my investment?

To make an investment, you will need the following information readily available:

  1. Personal information such as your current address and phone number
  2. Employment and employer information
  3. Net worth and income information
  4. Social Security Number or passport
  5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

Because SIFT is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


What if I change my mind about investing?

Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page by clicking your profile icon in the top right corner.


After My Investment
How can I sell my securities in the future?

Currently there is no market or liquidity for these securities. Right now SIFT does not plan to list these securities on a national exchange or another secondary market. At some point SIFT may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when SIFT either lists their securities on an exchange, is acquired, or goes bankrupt.


How do I keep track of this investment?

You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.


Other General Questions
What is this page about?

This is SIFT's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.


What are the risks of this investment?

This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in SIFT’s profile.