Funded Startup: Y Combinator & 500 Startups Backed Serica Closes Round

Serica recently closed their round on Crowdfunder.

We we’re able to catch up with Taariq Lewis, CEO and Founder of Serica, to hear about their success on Crowdfunder. Here’s what he had to say.

What problems are you solving at Serica?

Serica is a digital asset software platform that allows small businesses to leverage the power of the blockchain at a low cost,  as a financial services toolkit.

How does SericaPay work?

SericaPay is our merchant payment and lending platform targeted at small businesses that want to enable online payments and access fast, business credit.

How did having Y Combinator and 500 Startups help you close money but also raise awareness for what you’re doing?

Y Combinator and 500 Startups are visionary accelerators that introduced us to a deep network of both advisors and investors. The networks of these accelerators are worth the effort.

Outside of the investment, how was Crowdfunder able to help you on a more strategic level?

Crowdfunder allowed us to understand and respond to the needs of investors globally. We enjoyed interest in our Crowdfunder deal from as far away as Oman and Singapore.

Why did you decide to leverage equity crowdfunding for your fundraising efforts?

The Crowdfunder reputation is stellar among entrepreneurs at early stage software companies. We were invited to participate in several crowdfunding platforms, but the quality of entrepreneur feedback of Crowdfunder made the decision to leverage this channel easier. As a fintech company, we require extra care in our approach to equity financing. Thus, we wanted to leverage equity crowdfunding intelligently and with the best in the industry.

In your opinion, how has equity crowdfunding changed the fundraising landscape?  

Equity crowdfunding has opened access to new deals for both investors and entrepreneurs. It also has added greater transparency to private equity markets in a way that was never possible before.

What do you plan on using the funds raised for?

Funds raised on Crowdfunder will be used to acquire new merchants and expand our available blockchain features for small businesses.

What are you most excited about as it pertains to your space in 2016?

Our focus is to do less with more. 2016 is already proving tough for startups around the world and in our industry. We are looking to protect our revenue growth and focus on keeping our current customers and investors happy. It’s going to be an awesome year.

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