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Apparently being a startup, with large chunks of money being deposited and unclear/non-existent operating revenue on a dubious business proposition raises lots
by somewhereoutth 4y ago
Apparently being a startup, with large chunks of money being deposited and unclear/non-existent operating revenue on a dubious business proposition raises lots of red flags for mainstream banks.
- JumpinJack_Cash 4y agoI don't buy it, while it's true that startups are hundreds of thousands in the US, it's also true that VC funds are about 2000, the ones that invest on a recurrent basis must be less than 1000. Every big bank surely has the receipts by now and they can check the sender as well as the cause for the wire (which should always be added) . A 2.5M wire with sender being 'Founder Fund' and cause being 'Equity investment' will get the green flag even if the account is 3 months old or less.