Propy, Inc. announced that it expects to receive funding
September 01, 2020
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Propy, Inc. announced that it will issue 1,484,541 series seed-1 preferred shares at issue price of $1.010412 per share for the gross proceeds $1,499,998.040892 and 248,670 series seed-2 preferred shares at issue price of $0.80833 per share for the gross proceeds $201,007.4211 in funding on September 2, 2020. The transaction was led by Draper Associates VI, L.P. a fund managed by Draper Associates. The shares will be convertible in common shares at a price of $1.010412 and $0.80833 per share respectively. The company will issue securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor is $100,000.
Escrow Agent Japan, Inc. manages the administrative affairs between the sales contracting and the transaction settlement in the real estate transaction. The The company provides various services to financial institutions, judicial scrivener and real estate and construction companies, to improve the rationalization and efficiency of administrative work and the reliability of affairs. The Company operates in three segments. The Escrow Service segment provides systems and information technology (IT) service, building complete and delivery support service, as well as escrow accounts. The Business Process Outsourcing (BPO) segment provides property investigation, support service for execution of loan agreement, as well as manpower dispatching service. The Real Estate Auction segment provides real estate investigation, transaction price determination using real estate auction system, trust account for risk avoidance.