NEW YORK, Nov. 18, 2019 /PRNewswire/ -- TransparentBusiness, a SaaS company whose online platform was designated by Citigroup as the Top People Management Solution, announced today that it has raised $5 million from individual investors which include current and former executives of Morgan Stanley, Merrill Lynch, J.P. Morgan, Stifel, Bank of America, Barclays Global Investors, UBS, Wells Fargo, Goldman Sachs, Citigroup, Trust Company of the West, Deutsche Bank and Accenture.
Instead of seeking financing from VC funds, TransparentBusiness chose to raise funds from individual investors using new SEC Rule 506(c) which allows for "general solicitation and advertising" of the investment opportunity. "Only 2% of VC funding goes to women," said Silvina Moschini the Founder, Chairwoman, and President of TransparentBusiness. "By offering our equity directly to individual investors, we've been able to overcome this institutional gender bias."
TransparentBusiness has been advertising in the Wall Street Journal and some other major publications, indicating that the investors in the current round have a chance for the ROI exceeding 120,000% "Practically every caller was very skeptical, as such returns do sound "too good to be true," shared Andrew Winn, the Chief Investor Relations Officer of TransparentBusiness. "Fortunately, we were able to present to them a strong investment case of why TransparentBusiness may become one of the success stories of the IT sector."
"Rule 506(c) allows for, essentially, Initial Private Offerings," stated Richard Devlin, the securities attorney for TransparentBusiness. "It's so new, we know of no company that has tried advertising on a significant scale. TransparentBusiness is the first company I know which advertised its Initial private offering in the Wall Street Journal, Investors' Business Daily, Bloomberg, and other major media. That allowed us to provide access to our pre-IPO stock to individual investors."
"Our objective is to make TransparentBusiness synonymous with the category of Business Transparency, globally," added Silvina Moschini. "Five million is an important milestone in our fundraising efforts as it allowed us to build the momentum needed for faster expansion."
By making computer-based work easy to monitor and coordinate, the TransparentBusiness platform greatly increases the productivity of remote work and precludes overbilling. Legislators in 32 states have already introduced bills that seek to make transparent verification of billable hours mandatory for government contractors. By pioneering this new standard of public procurement, TransparentBusiness may save taxpayers billions of dollars per year.
TransparentBusiness has released these short videos to address various aspects of its current round of financing:
TransparentBusiness - a 120,000% ROI opportunity?
Is 120,000% ROI achievable?
Use of funds
Recession-proof nature of TransparentBusiness
Lessons from the history of Google
Unique capital efficiency ofTransparentBusiness
The reason we chose Rule 506(c)
Overview of TransparentBusiness
Photos of Silvina Moschini are accessible at https://flic.kr/s/aHskoF4xrM
For more information, visit www.TransparentBusiness.com/invest
Billy Kenny, Senior Vice President
Copyright (C) 2019 PR Newswire. All rights reserved