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ZenLedger.io Early Seed Deck

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ZenLedger.io Early Seed Deck

  1. 1. Tax Software for Cryptocurrency Investors Seed Round
  2. 2. PEOPLE NEED TO PAY TAXES ON CRYPTOCURRENCY TRANSACTIONS OR THE IRS WILL AUDIT The Problem
  3. 3. CURRENT SOLUTIONS ARE NOT GOOD ENOUGH The Problem
  4. 4. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Cryptocurrency Investment Is On The Rise • 15M+ Americans hold cryptocurrency • 8 US Registered Cryptocurrency Exchanges • 3 Derivatives Trading Platforms • Global Coin Market Cap is $600B+ AND GROWING…
  5. 5. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. IRS is Coming; Investors Aren’t Ready Authorities are intent on prosecuting tax avoidance and fraud • Only 800 Coinbase users (out of millions) paid taxes on their crypto investments in 2015 • IRS has successfully sued exchanges for user data and they are deploying ledger analysis tools (e.g., Chainalysis) to identify people who owe taxes • SEC has started to file fraud charges against ICO issuers
  6. 6. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Investors are poorly-prepared • Uncertain of correct tax treatment of cryptocurrencies • Trading multiple currencies across multiple exchanges • Reports are inconsistent, intimidating, and require manual processing (e.g., CSV download) • No accounting and reporting standards across exchanges • ICO tracking is entirely manual IRS is Coming; Investors Aren’t Ready
  7. 7. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. CPAs are already adjusting to thousands of other tax changes • With the new GOP tax bill, CPAs have lots of moving targets to focus on and don’t have time to learn about cryptocurrencies • The controversial nature of cryptocurrencies, their treatment, and their uses (including paying for illicit goods) means many CPAs won’t advise clients at all on these issues • Most CPAs don’t understand any of the three layers of the investment ecosystem: crypto coins, wallets, or exchanges • CPAs don’t know what to ask for and investors are unsure what to provide CPAs Won’t Meet This Need
  8. 8. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Crypto Hedge Funds Lack Infrastructure Crypto Hedge Funds are moving at breakneck speed • Many hedge fund managers come from a technology background rather than from finance and accounting • Lack trading engines, trade execution across exchanges, basic accounting, risk controls • Lack a way to see trading performance across exchanges and to report this to GP’s • Lack a way to provide year end tax forms to GP’s
  9. 9. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Timely Market Entry by ZenLedger Compliance Risk Enforcement looming Pain Point Lack of tools & standardization ZenLedger.io
  10. 10. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. How ZenLedger Works ZenLedger automates: • Import of BTC, ETH, LTC, and other coin trades based on public addresses • Integration with major US registered crypto exchanges and hot/cold wallets to track trades and positions • Audit and Reconciliation of exchange prices in USD with timestamped crypto transactions • Tracking and Visualization of cost basis, appreciation, portfolio characteristics, fees, etc. • Consolidation and Reporting of all activity for one-click delivery to CPAs or tax authorities
  11. 11. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. EarlyProductScreenshot
  12. 12. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Reaching Our Customer Segments Retail Crypto Investors 15M+ in US Hedge Funds 125 in US UHNW Crypto Investors & Family Offices CPAs 1.4M in US 1Q2018 2Q2018 4Q2018 • Influencer Marketing – Crypto Whales • Content Marketing • Social Media (FB, Reddit, Twitter) • Use of ZenLedger’s personal and professional networks • Attending industry conferences • Use of ZenLedger’s personal and professional networks • Attending industry conferences • B2B marketing
  13. 13. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Marketing Strategy: Your go to market strategy
  14. 14. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Roadmap - Here to EOY 2018 * As we move forward and learn from the market, we will adjust our product strategy accordingly
  15. 15. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Roadmap - 2019 and Beyond * As we move forward and learn from the market, we will adjust our product strategy accordingly
  16. 16. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Competitive Landscape ZenLedger will win by having the best team, the most customer friendly UI/UX, the most helpful customer service and support, the most convenient automated product features for the customer and the CPA, and great Sales & Marketing • Bitcoin.Tax – Poor UI/UX, automation, or marketing • CoinCounting.info – Expensive, poor UI/UX • 21.tax – Just a landing page at this point • Node40 – They are primarily selling mining services • Balanc3, Libra Tech – More like Quickbooks for Crypto rather than TurboTax. SMB offerings rather than targeting the Invididual Investor
  17. 17. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Target Strategic Partners
  18. 18. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Exit Strategy Mint.com $170M, 2009 TSheets $340M, 2017 TaxACT $288M, 2010 Primary Exit Strategy: Acquisition Quicken, 2016 * As we move into the market and learn further, we will consider other exit strategies for investors such as IPO and ICO. We will make these decisions in collaboration with our investors.
  19. 19. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Milestones ü World-class leadership team committed: CEO/CMO/CTO/CRO/CSO ü Have formed Delaware C-Corp with founders, investors, advisors and employee incentives in place ü Have gained access to wide cryptocurrency marketing channels ü Have formed Key strategic partnerships and alliances with high net worth families, crypto hedge funds, and “crypto whales” ü Have on-boarded key advisors in tax, cryptocurrencies, finance, technology, and startup strategy ü Have on-boarded strong and aggressive technical team of 6 developers ü Technology designs for v1 done
  20. 20. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Founding Team Short Bios of Founding Team
  21. 21. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Advisory Team Short Bios of Advisors
  22. 22. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Sources and Uses, FY2018 • Monthly Burn Rate ~$77,500 • Assumes $1M raise between two convertible notes Uses 1,000,000 Total Uses 480,000 Software Development 250,000 Salaries 100,000 Operating Costs 50,000 Sales & Marketing 50,000 Legal / Accounting 70,000 *Cash Reserve
  23. 23. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Capital Raise • CURRENT Convertible Note – $XXX total raise – XX% discount, $X.XM cap – Minimum investment: $XX – Expected close Jan 15th 2018 • NEXT Financing – $X - $X million – Q1 or Q2 2018 Funds v1 launch & marketing push Funds Alpha/MVP development
  24. 24. © Copyright ZenLedger, Inc. 2017-2018. All rights reserved worldwide. Legal Disclaimer The information contained herein is confidential information regarding ZenLedger, Inc. By accepting this information the recipient agrees that it will, and it will cause its directors, partners, officers, employees, attorney(s), agents and representatives to, use the information only to evaluate its potential interest in the investments and strategies described herein and for no other purpose and will not divulge any such information to any other party. Any reproduction of this information, in whole or in part, is prohibited. The information contained herein has been prepared solely for informational purposes and is not, and may not be relied on in any manner as, legal, tax or investment advice or as an offer to buy or sell or a solicitation of an offer to buy or sell any security or to participate in any trading strategy. If any offer of securities is made, it will be pursuant to a definitive offering documents prepared on behalf of ZenLedger. Any decision to invest in the investments described herein should be made after reviewing such definitive offering documents, conducting such investigations as the investor deems necessary and consulting the investor’s own investment, legal, accounting and tax advisors in order to make an independent determination of the suitability and consequences of an investment. An investment in private company securities involves significant risk, including a complete loss of capital and conflicts of interest.
  25. 25. CONTACT Email, Phone

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