Eco

Eco
Eco
Company Information
Company Description

The Eco App provides a digital global cryptocurrency platform that lets you spend, send, save and make money at the same time. Members earn 5% cashback on purchases and 5% on their balance used to pay bills as well as send money to friends.

Industries
Cryptocurrency, Financial Exchanges, Financial Services, FinTech, Payments

Please note, it is important to assess the company’s business activities against Section 1202(e)(3) which specifies certain industries that are not considered a “qualified trade or business.”

Entity Type

Per Section 1202, entities need to be a C Corporation or equivalent in order to issue QSBS.  Refer here for further details.

Incorporation State
California
Qualified Small Business Stock (QSBS) Details

Exemption Level

Any individual owning stock purchased or received directly from the company could potentially be eligible for the QSBS capital gains tax exclusion or the Section 1045 gain rollover if the QSBS standards as per IRC Section 1202 were met at the time of issuance.

In order to assess whether stock issued previously may qualify, the Company would also have to have not taken actions that invalidate QSBS status such as a certain level of redemptions, and would have to satisfy the active business requirement.

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Validate QSBS Eligibility
Series A Details
Series A Date
Series A Raised
$26,000,000.00
Series A Lead Investors
a16z crypto

This article does not constitute legal or tax advice. Please consult with your legal or tax advisor with respect to your particular circumstance.