Mission + Vision
Our mission is to create a payments platform that inspires entrepreneurs to do what inspires them.
At Esgro we are dedicated to solving payment pains for independent contractors and freelancers. The people who put their hearts into their small businesses depend on getting paid. Esgro partners with them with the same passion they have for solving problems.
Now with your help, we can make a lasting impact on millions of businesses and the lives behind them with a simple solution.
Our Esgro journey started in early 2018. Caleb was an Electrical Engineering student and had little money. So as a side gig, he tutored High school students. Although Caleb loved tutoring his students in calculus and physics, occasionally students would not show up or cancel. Those missed sessions put him in a financial bind. He began wondering why mobile escrow services were not a thing yet. That inspired Caleb to start Esgro. Because this was more than an isolated problem, it was a problem that almost everyone experiences.
The Company Overview
Esgro is based in Atlanta, Georgia, which is considered the payment transactions capital of the world.
Number of Employees
Esgro takes the stress out of payments between service providers & their customers
For as long as people have been hiring others for work, there has been an associated risk that comes along with it. Think back to the last time you hired someone to work around your house or the last time you were hired to do a job. Often times this comes with anxiety and awkwardness about how the payments will be handled.
“Does the payment come before?” “Does the payment come after?” “Will he do what I paid him to do?” “Will I even get paid for the work I’ve done?”
This problem has plagued society for years, and it’s called, “The risk of doing business.” That's because no one really knows what comes first, the money? Or the product and service?
At Esgro we're solving this problem! With our mobile application, you can send or request payments, but with a critical feature of holding the money in a secure place, until the job is done! No more second guessing, no more splitting payments! No more post-dating checks! We give you the peace of mind that you always wanted!
Here’s How it Works
Any freelancer or service provider can create an account and create an Esgro request within our mobile app. You then set the dollar amount of the job, how many days until the job is complete, and a brief description of the scope of work.
The request is sent to your client via the mobile app and she reviews and accepts. Esgro then places her money in a secure holding account until the job is complete.
After the job’s done and both parties mark the job as complete, then the money is disbursed from the Esgro account into the service provider's bank account!
The current methods today are outdated!
What are the methods that we use to get around this “Risk of Doing Business”? Well, there are a few that you might be familiar with.
Splitting Payments 50/50 - 50% now, 50% after the job is done. It might reduce the impact if something bad happens, but it doesn’t solve anything.
30 to 90 Day Payment Terms - This is a problem for freelancers and small businesses, because you can't always wait for their money!
Post-Dating Checks - Not only is this an archaic method of transacting for services this is also a huge fraud risk. Not only is your account and routing number on the check but checks bounce! Insufficient funds in bank accounts can cause a huge headache getting in touch with the person, reissuing the check, waiting for it to clear.
Small Claims Court - When things don’t go well this is your last option, but no one wins in this situation, because even if you do win in court, the collection agency will take an 80% chunk.
All of these methods don't solve the problem and they take a lot of time! As we all know time is Money!
Why Esgro? Why now?
Recent stats have shown that this has been a large problem in both small businesses & within the freelancing economy. In 2017, freelancers reported a loss of $17.3 Billion dollars due to non-payment. In 2016 a Gallup poll indicated that 33% of small businesses in America claimed that their survival was threatened due to late payment.
The release of Venmo & Cash app show that the market accepts P2P mobile transfers. In fact, $1.2 Trillion dollars was transferred in 2018, and will increase to $1.5 Trillion by 2020!
An $800 Billion Dollar Market
Did you know that 32% of Americans work as a freelancer or have a “side hustle”? By 2020 it is said that this will increase to 34%!The freelancing/gig economy amounts for over $800 Billion every year. That's only in the United States. Did we mention that we can go International? Our unique technology solution allows for easy scalability to go international.
Our initial target customer for roll-out will be artistic freelancers (i.e., Graphic Designers, Web Developers, Videographers, Software consultants). We chose this industry because we have had many industry professions reach out to us eager to use Esgro. The next vertical we plan to tackle is the residential general contractors and maintenance industry.
How Esgro Makes Money
The unique technology allows us to keep our operational costs low, which in return, gives our customers a lower transaction fee. For every job that a service provider completes, we take only a 2% (minum $2 fee) from every transaction. With a monthly SaaS subscription of $17.99, it will lower the fee to just 1%. That's much less than traditional escrow services which take anywhere from 5-20% in fees.
Product and Technology
Esgro launches on both the Apple and Android app stores in August. We've been hard at work for over a year to create a simple & beautiful mobile app that everyone can use! Esgro utilizes alternative technologies to make this all possible. We are partnering with Sila, which is a payment processing solution. Sila allows Esgro to store the funds in a blockchain which means your money is so secure that not even we can access it without your permission!
We know that our solution will change the lives of millions for the better and we want to give the early adopters the ability to share in the success. Often times we would speak to potential customers or people within the freelancing industry and they would ask if they could invest in our mission. This inspired us to team up with the Wunderfund crew to give everyone the chance to own a part of the dream.
Future Equity Shares
Esgro is offering a future equity shares in the company. They are like stock options that vest should the company increase it's valuation and we raise an anticipated future round of equity financing. In other words, by investing in Esgro, you're expecting we'll increase the worth of this company beyond the valuation below (plus the money invested in this round).
Pre-Money Valuation: $3,000,000. This is what the company is valuing the business before any money is invested.
Minimum Investment: $20 dollars. This allows any investor to put money into our company.
Raise Target: $10,000 and up to $107,000
As an option holder in Esgro, Inc., you should expect to hold these for the long-term, because your investment is not liquid until the company is either acquired or conducts an IPO. If you have any questions, please post them to the Comments Section tab above. Before investing, please review the full terms of the future equity agreement below.
$100: Gets a year-long membership to Esgro (Retail value = $215.88)
$250: Gets a year-long membership to Esgro and a limited edition Esgro T-shirt
$1000: Gets a 2 year membership to Esgro and a limited edition Esgro T-shirt
$10,000: Gets a 3 year membership to Esgro, a membership to our Esgro Alpha Group, and an Esgro T-Shirt & Hoodie
$25,000 - Gets a LIFETIME membership to Esgro, a membership to our Esgro Alpha Group, and Esgro T-Shirt & Hoodie
A Letter from the Founder
I'm Caleb Gilbert. I want to thank you for taking the time to consider Esgrō.
I was the youngest of three raised by a single mother. I was the first in my family to go to college. I often worked 7 days a week. It was a humbling, and helped me to develop empathy for anyone in a bad financial bind. Homelessness was a real possibility, which is why I want to make a difference in the world.
I believe Esgro can be the tool that drives this difference. Esgro is partly a tech company, but within our hearts, we have a philanthropic mission, that could help contractors, freelancers, and everyday people who work hard for a living to improve their lives.
That's why we'll be taking a small portion of our profits to give to charities that combat poverty. This is something I'm extremely passionate about and I hope that you invest because you share in this passion.
So today, I invite you to be an owner and partner of this vision. Together we can create a better way of doing business!