- 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
- Total Amount Raised: US $602,511
- Total Round Size: US $1,500,000
- Seed :
- Minimum Investment: US $10,000 per investor
- : SAFE Note
- US $10,000,000 :
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.
Investments $20,000 +
Premium Patagonia Vest with SIFT logo.
All of the above + Bi-annual investor update call with the CEO.
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
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.
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.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or passport
- 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.
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.
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.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
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.
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.