Total amount raised
$42 Million
Latest funding date
6/1/2021
Location
nate raised significant funding over multiple rounds, then ceased operations and was dissolved in January 2023. The platform let users buy, pay later, curate finds, share inspiration, and gift items.
What Is nate?
nate was a tech company built around an online shopping app. Founded in 2018, the company was headquartered in New York City.
nate was founded by Albert Saniger, who envisioned a seamless way for users to buy, gift, and share items. The app let users purchase with a single tap, pay later, and protect their payment information.
In January 2023, nate ceased operations and its founder terminated all employees.
How Much Funding Has nate Raised?
- Amount Raised: $38 million Date: June 2021 Lead Investors: Renegade Partners Valuation at Round: Not publicly disclosed Motivation Behind the Round: To expand its online payment solutions and support the growth and development of Nate's universal shopping app.
Total Amount Raised: $42 million. Current Valuation: Not publicly disclosed. The SEC's April 2025 complaint says nate raised more than $42 million from investors.
Key Investors
- Renegade Partners
- Details: Renegade Partners is a venture capital firm that helps founders navigate a pivotal phase of development. The firm is known for its hands-on approach and deep industry expertise.
- Investment Focus Areas: Technology, Consumer, Enterprise.
- Notable Investments: Not publicly disclosed.
- Forerunner
- Details: Forerunner is a venture capital firm that invests in early-stage companies. They are known for their focus on consumer-driven businesses.
- Investment Focus Areas: Consumer, Retail, Technology.
- Notable Investments: Warby Parker, Glossier, Dollar Shave Club.
- Coatue
- Details: Coatue is a global technology-focused investment firm. They manage both public and private equity funds.
- Investment Focus Areas: Technology, Media, Telecommunications.
- Notable Investments: Snap Inc., ByteDance, DoorDash.
- Canaan Partners
- Details: Canaan Partners is an early-stage venture capital firm. They have a strong track record of investing in technology and healthcare startups.
- Investment Focus Areas: Technology, Healthcare, Fintech.
- Notable Investments: LendingClub, Instacart, The RealReal.
What's Next for nate?
nate's prospects ended when the company ceased operations. The company had planned to expand its universal shopping app and online payment solutions. After raising $38 million in its Series A in June 2021, nate failed to complete a Series B.
The company was dissolved in January 2023 through a State of California Assignment for the Benefit of Creditors.
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