Early August, we sent our first ever quarterly report to Fairmint early CSO investors. We wanted to share it publicly for everyone to see.
As the first report, it covers the end of Q1 until the end of Q2 2020. Let's start with a reminder of Fairmint's mission statement:
Fairmint provides founders with the most effective solution to turn stakeholders into investors
In Q2, Fairmint received $176,474 from 68 investors. We wanted Q2 to be the real life test of a CSO, without any marketing or press push (except the initial announcement) to see what the organic number would be. Now, it's time to start our engine!
As you can see, while 15% of the investors invested more than $5000, a little bit more than half the investors invested less than $500. Typically small investors who could never have had the opportunity to invest in Fairmint directly.
Q2 was focused on working on our inbounds to better understand the companies that were organically interested by Fairmint: their profile, what attracted them to Fairmint and their objectives... this enabled us to sharpen our value proposition and iterate on our sales process. We even signed our first 3 customers 🎉
As you can see from the results above (based on a little more than 120 companies that we interacted with since launch), SaaS, Marketplaces and Fintech are quantitatively the first businesses organically interested in Fairmint. An interesting take away is that those companies were for the most part not only interested in raising money but also showed strong interest in rewarding key stakeholders of their respective companies: to increase loyalty, boost acquisition, reduce churn, increase engagement etc...
Unfortunately, now is too soon to disclose anything but talking to many investors and prospects in Q2 helped us identified a tremendous business opportunity for Fairmint that we'll be unveiling soon. That's all we can say for now :)
If you missed them, here are the news we had during the past quarter:
- 04/10 Fairmint is open for business
- 04/22 Continuous Securities Offerings explained
- 07/31 Fairmint releases its smart-contracts in Open Source
We hope you had a great summer! Get ready for an exciting Q3!