Slync founder took $28m of $67m raised, SEC says
Slync Inc. (Slync.io) · Supply-chain logistics software (venture-backed)
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
End-use tracing of funds
Would have traced wires from company accounts to personal accounts and the aircraft seller.
Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.
Third-party confirmation
Would have asked named customers to confirm contracts and volumes.
Can mislead when: Counterparties can collude or ignore requests. A non-response is logged as a gap, never as a pass.
Bank credits vs books
Would have compared reported customer revenue with actual bank receipts.
Can mislead when: AA only sees the accounts the company links, so an undisclosed account stays invisible. Cash-heavy businesses and timing differences create false flags.
Where Kubr services would have helped
Valuation context
Offered in India- Peer multiples and the exit-multiple bridge would have shown how much of the story relied on valuation holding.
Borrower monitor
Offered in India- C1 Would have compared reported customer revenue with actual bank receipts.
- C6 Would have traced wires from company accounts to personal accounts and the aircraft seller.
Proceeds tracer
Offered in India- C1 Would have compared reported customer revenue with actual bank receipts.
- C6 Would have traced wires from company accounts to personal accounts and the aircraft seller.
Financial diligence
Offered in India- C1 Would have compared reported customer revenue with actual bank receipts.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.