Manzil's Seed Financing Round

Invest in Canada's First Halal Certified Neo Bank
Invest
$500 minimum
$235,950
completed of $300,000
*No closing minimum
$45,100 currently processing
95
investors
53
days to go
Terms
Main Category
Finance
Security Type
Other
Minimum Investment ($)
500
Term
2 years or earlier conversion due to an Equity Financing, Liquidity or Dissolution Event occurs (as defined in the SAFE)
Discount
80 %
Minimum Offering ($)
No minimum offering required to close
Maximum Offering ($)
3,000,000
Important Information
Investment is a SAFE (Simple Agreement for Future Equity). If a future equity financing occurs, the SAFE will convert into equity at a 20% discount to that share price, as subject to the valuation cap of $10MM.

E.g. investment of $1K. Future equity financing at $1.00/share and valuation below $10MM. You would receive 1250 shares ($1K/$0.80) as opposed to 1000 shares ($1K/$1.00) due to the 20% discount. If valuation >$10MM, your investment will convert as if the valuation was $10MM (beneficial to SAFE holders).

If within 2 years an equity financing does not occur, the SAFE will convert against an $8MM valuation ($10MM cap less 20% discount). With a $1K investment, this would translate to 0.0125% ownership in Manzil ($1000/$8MM)

Please see the SAFE in the documents section for complete information and reach out if any questions.
RRSP/TFSA Eligible
No
Perks
Get Rewards in Addition to Shares in the Company!
53 days left
Get your pair of Manzil's Halal Socks!
$2,000
Manzil & Halal Socks collaborated to create a limited-edition pair of socks for our client base. It's our way of saying thanks and halalifying your feet at the same time!
Invest $2,000