Premoney 57: Dolo Finance & BrandXR

Welcome to week 57…only the paranoid (and sustainable) survive!

For all new readers - - Premoney is simple: two companies that are raising & have impressive traction, with an opportunity to request intros. Please reach out and share more about yourselves - would love to get to know you & how you landed on Premoney. You can also read more about my goals of Premoney here! Onwards…

This weeks companies:

Company: BrandXR

Founder: Moody Mattan

Raise Details: Raising $1.5M Pre-Seed, 1M committed.

• Round is led by Morgan Stanley

Vertical: AR/VR, E-commerce,SaaS

Business Model: B2B

1-Liner: BrandXR is an end-to-end no-code platform to create, publish and measure Augmented Reality.

Description: With the BrandXR Studio, you can create AR experiences 100x cheaper and 19x faster all without writing a single line of code. An AR experience that costs $100k+ and a team of highly skilled 3D developers can now be built on the BrandXR Studio, using just your existing team.

Why build in the AR space? Some of the most innovative brands are using AR as a sales tool today and seeing incredible results. For example, Houzz is seeing 11x better conversions and 3x more product engagement using AR versus their website. Shopify shoppers are 44% more likely to add a product to their cart after viewing it in AR. And this is all being done on the 2 billion AR-capable smartphones in the market today So if AR works so well in selling products, why isn’t everyone doing it? Very simply, it's really hard. There’s a MASSIVE skills gap in creating AR experiences.

Traction Indicators: 

• 25 customers driving $550k ARR

• Partnerships with Meta, Snap, LG, and Unity. 

Company: Dolo Finance

Founder: Jake Pimental

Raise Details: Raising $1.5M, $400k committed.

• Current investors are from companies like SoFi, Ramp, Zapier, Doordash, Looker, Teller Finance, and Coinbase.

• Gaingels will be doing a syndicate as well.

Vertical: Fintech, Crypto, SaaS

Business Model: Fee-based, B2B,SaaS

1-Liner: Dolo Finance helps startup lenders source capital via a credit facility powered by blockchain.

Description: There is 5 trillion annually in unmet financing needs for SMEs due to outdated credit models. Lending startups are tackling this market with new underwriting and data models but their biggest problem is getting money to lend as a new startup. Dolo Finance will be the infrastructure behind these new lenders offering debt capital as a service along with other fintech offerings. Dolo Finance will be the one-stop shop for anyone to launch a new credit product.

Traction Indicators:

• Secured all key legal and infrastructure partners

• Signing our first credit facilities agreement.

• Current waitlist is 7 LOIs and $15M in debt capital requested.

That’s all for this week!

Jake