Scramble

Scramble enables founders to get an up to 250k startup loan. BS is a technical term invoked by founders when faced with the dark side of many traditional startup financing providers, including, but not limited to: unpredictable and unstructured deal closing process, unclear timing and lack of deadline discipline, back-and-forth on specific terms, l... ack of clarity, reneging on promises, multiple requests for extra information and documentation, etc.; hidden founder-unfriendly terms and provisions, excessive fine print, multiple extra charges and commissions, unreasonable insurance and service fees, etc.; arcane covenants and reporting requirements, highly customized metrics dashboards, etc.; governance complications, loss of agility, managerial time abuse, endless presentations, low value-add discussions, inability to deal with changing landscape and emergencies, etc.; disregard for the founding teams vision, abuse of founders commitment to the company, backroom politics, conflicts of interest, self-dealing, accountability avoidance. Trust among founder members is at the heart of the value that scramble platform provides. Founders are mutually validated using peer-topeer mutual insurance mechanism Startups in a pool agree to insure investors against default by a founder on her/his personal obligations. Insurance is triggered if a founder of a failed startup refuses to repay their startups debt from personal income Each startup voluntarily selects their mutual insurance partners. A startup must have at least 4 mutual insurance partners to be eligible for funding Worst case, I repay 1.2x the original principal. That would happen if startups I selected for a mutual insurance pool have failed and then their founders refused/failed to repay their personal obligations. In such worst case, my own cost of money is still 10x lower than for an equity investment My mutual insurance partners will keep repaying my debt to the investors on the original schedule. In the meantime, I have 60 months to gradually repay the unpaid ...Read More