Syndication | HBSAAA

GLOBAL DEAL SYNDICATION

HBS Alumni Angels syndicates selected deals across the full global membership of its 14 chapters. This enables selected deals from one chapter to reach a global network of accredited investor alumni. This is a unique benefit of being a member in a local HBS Alumni Angel chapter. Investment decisions are made and executed individually following a global webinar. Once investments are made, investors often assist companies in other areas as formal or informal advisers. For details on how the process works, please scroll down.

UPCOMING SYNDICATION CALL

GLOBAL SYNDICATED INVESTMENT PRESENTATION:
TANG App

January 21, 2021 I 9am PST, 12 pm EST, 5pm London, 6pm Continental Europe

Presenter: Rebecca Kersch, CEO & Founder of TANG App and

Alejandro and Sara Padua, HBS Angels Houston

REGISTRATION

About this event:

On behalf of the Houston chapter, we would like to share the following investment opportunity:

TANG app is an international peer-to-peer mobile payment app. Think international “Venmo” for the 1.7 billion unbanked globally, starting with the Philippines.

What is the problem?

70% of Filipino adults do not have a bank account, but they have smartphones. In addition, 10 million Filipino migrant workers pay exorbitant fees to send money home. Globally, 1.7 billion are unbanked and relatedly several emerging markets have large migrant populations abroad who pay huge fees to remit cash.

Why is TANG app the solution?

TANG app is the first platform to connect remittances to last mile daily payments under one brand and app. It allows overseas Filipinos to send home phone credit and money cheaply and instantly. The receiver can then use the phone credit or they can use TANG app to pay bills and peer-to-peer.

Traction

TANG app has extensive traction since being founded in spring 2019: won 5 grants & had a successful soft launch of the app for phone credit top up, with organic growth. TANG app was a winner in 2020’s Boston MassChallenge, 2020 Harvard President’s Innovation Challenge winner, 2020 Acumen Academy and Rockefeller Foundation grant recipient, 2020 Harvard iLab Social Impact Fellowship Fund recipient, and the founder was awarded the Adrian Cheng Fellowship.

Vision

The vision at TANG app is that sending money should be as easy as texting, regardless of where you live, what your income is, and in what currency you earn or spend.

Terms of Current Angel Round

TANG app is seeking to raise $1mm via a convertible note offering, providing financing for a projected 18 month runway. Convertible note features a $5mm valuation cap, 5% simple interest rate, and a 20% conversion discount.

REBECCA KERSCH

Founder & CEO, TANG App

Rebecca Kersch is an award winning entrepreneur and a 2020 MPA graduate from the Harvard Kennedy School, where she also received the Don K. Price award. Previously, Rebecca worked 6+ years in strategy consulting, non-profit, the UN, and she is an industry advisor to the Oxford Saïd Business School. Her extensive experience in business, the public sector, academic world, as well as emerging markets, Europe and the US, are what led to her first successful social enterprise in the education space in the Philippines and are also why she started TANG app, to continue focusing on improving lives through financial inclusion using tech.

For her work with TANG app, Rebecca won prizes in nearly every start-up competition at Harvard and in the Boston area. Rebecca is Dutch/Filipina/American, speaks four languages and her peers describe her as an energetic, fun, relentless, but also a compassionate entrepreneur.

PAST SYNDICATED COMPANIES

HOW IT WORKS

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1. HOST CHAPTER

A company must meet a threshold of member investment in one of our HBS Alumni Angel Chapters listed here. The leadership of the host chapter nominates the company for global syndication and provides a local member contact to act as syndication lead and a company contact.

CRITERIA

Ideally, for global syndication a company should meet the following requirements:

Local host chapter members committed to invest at least $50,000* and local chapter forwards deal to global for syndication;
Company assures at least $50,000-100,000 investible capacity;
Company provides at least 2 weeks for due diligence following the webinar, prior to requiring an investment decision;
Minimum individual investment amount is set at $25,000 or less;

The Global Syndication Committee selects the most suitable company candidates from the 15 participating HBSAA chapters and is aiming to host monthly webinars.

*NY and other larger chapters may have a $100,000 min.

GLOBAL SYNDICATED INVESTMENT PRESENTATION: TANG App