OPER is a Title III - Regulation Crowdfunding Campaign and is actively accepting investments.
$250.00 minimum investment

OPER

Fee-free Mobile Payment

Small OPO
St. Louis, MO
Mobile
Accepting International Investment
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Eliminating Credit Card Fees Worldwide

Invest In Free Payment

OPER is on a mission. We’re trying to help rid the world of credit card fees. You see, when you use your AMEX to pay for gas, swipe for your lunch at the corner deli or pay with your MasterCard at the local barber, those businesses aren’t getting 100% of what you’re paying. According to the U.S. Small Business Administration, merchant account companies can typically charge up to 5% on anything a company earns from credit card transactions. (Source: U.S. Small Business Administration) And for what? So you can swipe a piece of plastic?


According to The Nilson Report, in 2016 $88.39 billion dollars in the US alone was spent on merchant card fees paid to Visa, Mastercard, American Express, Discover, and others. (Source: The Nilson Report) Most of these fees were paid by small businesses, cutting into their already-dwindling profits and often forcing them to raise prices to try and offset these costs.


And instead of these fees decreasing over time, large companies like Amazon, ApplePay, and Square are making it easier for consumers to use their credit cards. Small businesses regularly pay fees in the range of 2-3.5% of each credit card transaction. (Source: Huffington Post)


These fees are charged to the business and generally split between merchant service providers, like FirstData & National Bankcard, credit card issuing banks, like Citi & Chase, and credit card associations, like Visa & MasterCard. (Source: Merchant Maverick) They include terminal fees, payment gateway fees, PCI fees, annual fees, monthly fees, statement fees, network fees and IRS report fees (source: Merchant Maverick). Sound complicated and expensive? It is and that’s why this needs to change!


How do we make it free?  Keep reading and find out!

INVESTMENT OPPORTUNITY

Convertible Note | Minimum $250 Investment

Note converts to equity when the company raises $2M in qualified equity financing

Maturity Date: July 26, 2019

$8M valuation cap

5% yearly interest rate

20% Discount


What is a Convertible Note?

A convertible note offers you the right to receive shares in OPER. The number of shares you will receive in the future will be determined at the next equity round in which OPER raises at least $2M in equity financing, including the conversion of the outstanding convertible notes and any issued debt. The highest conversion price per share is set based on a $8M company valuation cap or if less then you will receive a 20% discount on the price the new investors are purchasing.  You also receive a 5% interest per year added to your investment. When the maturity date is reached and the note has not converted then you are entitled to receive your investment and interest back from the company.

PREVIOUS ROUND LEAD BY

What Makes Our Product Different

While every other company approaches businesses with options to pay for their service to either 1) increase business or 2) make business more efficient and in theory, save money, OPER is actually FREE and helps businesses save money on their loyal customers. By removing the credit card fees, we give businesses an immediate solution to help save money on their existing business.


We built a payment platform to integrate with the existing ecosystem.  From dining to retail to enterprise, OPER was built to give free payment to all businesses and if scaled correctly will be the next Mastercard.


To gain initial traction, we thought we’d start with restaurants. They have some of the tightest margins in business today and people eat 3 times a day, 7 days a week.  This combination provided a great opportunity to save these businesses significant dollars while also allowing us to capitalize on a habitual consumer behavior – dining out.


Key Investors

Chairman of RTG

Lessnau Family

VP of Product Development

Accomplishments:

The Traction


  • Processed over $700,000 in sales to date
  • Saved business owners over $30,000 in credit card fees
  • Over 200 active customers (restaurants) piloting the software
  • Average Transaction is over $22
  • Currently generating at a 14% revenue line - trending to 17%
  • Annual CLV (customer lifetime value) ~ $120
  • 27,000+ Registered Users
  • 3,600 Monthly Active Users
  • 450+ Premium Members

We chose St. Louis to beta test our platform so we could learn, adapt and pivot under the radar in a small city.  Since inception we have changed our message several times, heavily researched our user's behaviors, hosted many focus groups, and pivoted our entire business model.  During Q1 2017 we finally established a sustainable model and we're very excited to use these funds to accelerate on the unit economics!

UNIT ECONOMICS

By maintaining these unit economics and combining our 3-Tier Revenue Model (see diagram below) we use membership, advertising, and data to offset our processing costs and still maintain over a 10% gross operating margin of total transaction volume.  As transaction volume grows, so does our revenue!

David Laiderman, Founder & CEO

OPER was born out of my experience in the online food ordering industry. For years, I met with thousands of restaurant owners to discuss online marketing, technology, and future challenges. I spent so much time on the road that all of our restaurant clients became close friends. The problem I ran into is that while their businesses plateaued because of rising costs and fees, square footage and parking limitations, my online food ordering business continued to grow.


A combination of our fee structure and increasing credit card fees led to shrinking clients’ margins as we converted more of their loyal business into online customers and those customers increasingly paid with credit cards. This created a lot of friction in my friendships, so I set out to develop a product that brought the same value as our online food sites, but for free.


We’ve created OPER; a new and innovative mobile payment and rewards platform to help businesses keep more of their profits and to reward their customers for using it. OPER provides businesses with FREE mobile payment and up to 10% dining cash back to users.


Business owners’ work hard and we think they should keep more of their hard-earned money. We hope you do too, and we want YOU to join our mission to help rid the world of credit card fees! I’m excited to show you how we can do this!

David Laiderman

Founder & CEO

Read More: Food & Beverage Magazine Article

David's Acquisitions:

1st Company acquired by SandwichU

2nd Company acquired by OrderUp/Groupon

3rd Company acquired by Doorstep Delivery

4th Company acquired by EatStreet, Inc.

Market Opportunity:

Revenue Model: 

Scale Model:

In the Press

Offering Summary

INVESTMENT OPPORTUNITY

Convertible Note | Minimum $250 Investment

Note converts to equity when the company raises $2M in qualified equity financing

Maturity Date: July 26, 2019

$8M valuation cap

5% yearly interest rate

20% Discount


Maximum  $107,000 of convertible promissory notes ($107,000)

Minimum $10,000 of convertible promissory notes ($10,000)


Company
OPER, LLC
 

Corporate Address
911 Washington Ave, Suite 731, St. Louis, MO 63101
 

Description of Business
Mobile Payment & eCommerce: Our visions is to create free digital payment and develop a strategy to remove credit card processing fees for merchants worldwide.
 

Type of Security Offered
Convertible Promissory Notes
 
Purchase Price of Security Offered
$1
 

Minimum Investment Amount (per investor) 
$250












Note converts to equity when the company raises $2M or more in a priced round, including any previously raised convertible notes and debts.

What is a Convertible Note?

A convertible note offers you the right to receive shares in OPER. The number of shares you will receive in the future will be determined at the next equity round in which OPER raises at least $2M in equity financing, including the conversion of the outstanding convertible notes and any issued debt. The highest conversion price per share is set based on a $8M company valuation cap or if less then you will receive a 20% discount on the price the new investors are purchasing.  You also receive a 5% interest per year added to your investment. When the maturity date is reached and the note has not converted then you are entitled to receive your investment and interest back from the company.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$693,481.40 USD
$651,582.85 USD
Cash And Cash Equivalents
$86,416.91 USD
$164,471.16 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$2,175.94 USD
$27,915.92 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$9,080.02 USD
$2,144.07 USD
Costs Of Goods Sold
$3,409.72 USD
$5,979.84 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$1,839,670.11 USD
-$514,589.14 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Amending our Securities Offering

3 days ago

Hello! Recently, a change was made to the OPER offering. Here's an excerpt describing the specifics of that change:


Oper, LLC has extended the end date of their campaign to Novemeber 22, 2017.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Notice of Funds Disbursement

11 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, OPER has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in OPER be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

After 5 business days, OPER, will be conducting our first closing!

19 days ago

OPER, has more than successfully reached our minimum funding goal and we're continuing to accept investments. Per our offering terms, and because our equity crowdfunding campaign has now exceeded the minimum funding goal, we will be conducting the 1st closing in as soon as five business days. We will be closing on all funds whose status is marked as "cleared." Those investors do have the ability to cancel their investment up until 48 hours prior to this closing. 

Once closed, we can deploy these funds and start implementing our ambitious growth plans. The equity crowdfunding path has been an outstanding journey for our management team, stakeholders, and avid supporters. There is limited time left until the campaign officially ends, and we encourage you to promote the offering to your network. Equity crowdfunding is all about building a community of passionate individuals around a single vision. We thank you for your continued support and look forward to truly bringing Power to the People.

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