Twenty-one-year-old Lucas Duplan just raised more millions than his age.
The first-time entrepreneur and recent Stanford graduate (he finished a computer science degree in three years) has been working on a mobile payment app for the past two years. He’s now been awarded $25 million from a long list of Silicon Valley investors which includes Andreessen Horowitz, Peter Thiel, Accel Partners’ Jim Breyer, Intel, Intuit, former Facebook COO Owen Van Natta, Salesforce CEO Marc Benioff, the founders of Qualcomm and VMware, and many others.
The kicker: The app hasn’t launched yet and it isn’t going to for a few more months. Duplan’s 50-person team raised the entire $25 million – the largest seed round in Silicon Valley history – on a mere working prototype and a beta test at Stanford University.
Duplan says his pitch deck didn’t move VCs to invest but as soon as he showed them the app they were compelled to back him. He’s also secured a number of patents for his technology.
What is Clinkle, the wonder app that made investors open their wallets?
It’s hard to say. Duplan declined to share many details prior to Clinkle’s launch, which is expected to be released on iOS and Android later this year. All he revealed was this:
“Our goal is to completely modernize how payments work,” Duplan says. “What we’re trying to do is basically take your phone and have it for the first time be able to rival cash and credit cards. We’ve developed a way for consumers to…