A Richmond company that offers a multiperson exchange marketplace for non-fungible tokens has raised $202,500 in a pre-seed round, according to a filing with the Securities and Exchange Commission. NeoSwap founder and CEO John Ennis said the company has raised more than the publicly available amount. He declined to give an exact figure.
“We have had to keep adjusting, because the market conditions are so turbulent right now,” Ennis said. “Our original plan was to do $500,000 pre-seed and do $3 million seed, but then in the early summer, the crypto market was volatile. It was a very tough fundraising environment.”
According to the filing, the company wants to raise $900,000, but Ennis said the final amount will be higher. The fundraising round requires a minimum of $10,000 to invest in the company. Ennis expects to complete the entire funding round in the next few weeks. His goal with the pre-seed round is “to get two years of runway, but a lot of this is in flux.”
Ennis said…
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