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Veptas Technology Solutions, Inc.

Veptas - The AMC Alternative

Closed on 10/22/18
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Security Offered:

Security Token.
Please read all details below.

25% Timed Bonus!

Receive 25% Bonus Tokens at the time of our planned Security Token Offering by investing before the bonus period ends.

Bonus Period Countdown





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Our Mission and Vision

Providing An Alternative To The Appraisal Industry

Veptas Technology was borne from a recognition that the residential mortgage appraisal industry is broken.

According to the Federal Housing Finance Agency, today's Appraisal Management Companies (AMCs) are not bringing value to the market. AMCs expose inefficiencies in the appraisal process and apply fees that impact quality and create risks that could easily be avoided.

An AMC manages a list of appraisers selected and approved by the AMC. Those appraisers are agents of the AMC and agree to complete appraisal assignments in compliance with the AMC's guidelines.

They have had a chokehold on the industry for decades, leading to slow appraisal turn times, poor work quality, reduced fees paid to appraisers, and any appraiser communication is channeled through the AMC, delaying the delivery of the appraisal and clogging up the process.

Veptas' disruptive technology is freeware that accelerates the application to closing timeline while simultaneously producing and delivering high quality appraisal products and significantly reduced turn times. Veptas technology is designed to improve the appraisal process for the lender, the prospective borrower, and the appraiser.

For Veptas, we aim to cut this waste and bring value directly to appraisers and lenders. Using our best-in-class automated appraisal management tool, users will have quality end-to-end service supported by the power of artificial intelligence and "big data."

Communication delays are non-existent, errors are avoided, and quality control is held to the highest standard.

Veptas is a real win-win solution ready to revolutionize the market.

Debt Until Security Token Offering


Interest Rate

20% simple interest shall accrue and be payable at the Maturity Date in Tokens or in cash, as applicable.

Profit Distributions

DUSTOs will automatically convert into digital blockchain tokens upon our Security Token Offering. Token holders will receive profit distributions based on the platform’s performance after costs plus 20% are retained by the Company.

Maturity Date

The DUSTO will mature 30 days after our planned Security Token Offering. If a Security Token Offering has not occurred before October12, 2021 the DUSTO will be repaid in cash.

Bonus Tokens

By investing in the DUSTO by the dates listed below, you will receive the following bonus tokens at the time of our Security Token Offering:

  • 100% bonus Tokens if a Lender invests in the DUSTO on or before November 16, 2018.
  • 50% bonus Tokens if a Lender invests in the DUSTO on November 17, 2018 and on or before December 14, 2018.
  • 25% bonus Tokens if a Lender invests in the DUSTO on December 15, 2018 and on or before January 18, 2019.

All dates end at 11:59pm Pacific Time (PT).

By way of illustration, if the aggregate amount due and payable under a DUSTO is equal to $1,000.00 and the Token Price is equal to $1.00 per Token, you would receive 1,000 Tokens. If you invest in the DUSTO after August 11, 2018 and on or before August 24, 2018, the Lender would receive 25% bonus Tokens, or an additional 250 Tokens.

Redemption Right

The Company will hold redemption rights which may be exercised by the Company only upon the approval of the tokenholders holding a majority of the tokens then outstanding, excluding any tokens held by the Company, a potential acquirer of the Company if the redemption right is exercised as part of a sale of the company, or any of their respective affiliates.

Please read the Offering Memorandum included in the Form C below for details on the DUSTO and our planned Security Token Offering.

The Problem

Appraisals are the Bottleneck to Home Ownership

High Cost, Inaccurate, Slow

The inefficient and bloated Appraisal Management Company model has caused stagnation in the appraisal industry.

Are Appraisal Management Companies providing a value-added service?

According to a recent white paper by the Federal Housing Finance Agency (FHFA).

The answer is: No.

“We find that compared to non-AMC appraisals, AMC appraisals on average share a similar degree of overvaluation despite being more prone to contract price confirmation and super-overvaluation…”

“AMC appraisals also share a similar propensity for mistakes, despite employing a greater number of comparable properties…”

Our Solution

The AMC Alternative

A Disruptive Technology to Revitalize An Industry

Veptas is the best in class fully automated, self-serve appraisal management tool that is powered by AI and big data to accelerate lender application to closing timelines.

Veptas simultaneously delivers timely, high quality appraisals within an AIR compliant bi-lateral communication platform that virtually eliminates communication delays and unnecessary human intervention in the underwriting process. This process is as follows:

*Complexity Score: determines the proper fee at the time of the order eliminating churn

*Assignment Logic: incorporates numerous data points including the appraisers’ geographic location and historic value band competence ensuring the best appraiser for the assignment is engaged.

*Three Factor QC Review: a customizable, data-driven, rules-based review; utilzation of the Veros “Preview” service- a best in class collateral underwriter test; an AVM/standard deviation review.

*Appraisal Delivery: via UCDP and EAD with accompanying SSR’s.

All communication is Appraiser Independence Requirements (AIR) compliant containing word and phraseology recognition.


Raising Capital, Building our Platform, Growing Our Customer Base

Fresh To The Market

Veptas has just exited its development stage and have been in the market since June of 2018.

Our Base Is Growing

We have already signed up over 100 lenders and as we grow our customer base, with many more on the way.


We anticipate ten thousand appraisals a month using our platform within the first year, with that number increasing to fifty thousand by year three.


This four year projection would yield a gross revenue of $3,500,000 per month, annualized at $42 million a year. Even assuming the same profit margin of 60% which should improve with scale, our net profits would project to be approximately $25Million.

The Market, Competition, And Our Advantage

The Future Is Now


No one in the market currently offers a product similar to the Veptas platform. The current appraisal market is primed for an automated, efficient option away from the stagnant AMC model.

Our current forecast is to be at 10,000 appraisal orders per month within one year of activation and 50,000 transactions per month at the end of year three. These forecasts would equate to monthly gross revenue of $700,000 at the end of year one, and $3,500,000 at the end of the third year of operations with annualized gross revenue of $8,400,000 at the end of year one and $42,000,000 at the end of year three. Gross profit margins are anticipated to be in the 60% or greater range.

At Veptas, we saw an opportunity to use artificial intelligence and process automation to create a regulatory compliant technology that performs the mundane tasks in daily appraisal management operations, ultimately resulting in shorter application to close times for lenders and consumers and paves the way for appraisers to receive more of their historical and customary fee’s. The efficiencies of our technology translate to increased lender profitability and higher appraiser compensation.

And since it is freeware. We don’t charge the lender to use the platform and we will never charge the appraiser to upload their work. Instead, we only charge a “Technology Fee” based on averages, around $70 per transaction, and location paid out of the total appraisal fee.

The net effect of all of this is that there is no extra cost to consumers or lenders and the total compensation to appraisers is increased appreciably.

Use of Funds

Accelerating growth, building our platform, solidifying our base.

Marketing And Advertising

Funds will be used to expand advertising and marketing efforts for the platform, using the best avenues to promote to investors and expand visibility.

Technology And Platform Development

Capital will be used to pay for additional system development resources, with the enhancement internal expert systems associated with the platform and the access to both public and proprietary data, as well as external websites as a priority.

Hardware Costs

Cloud hosted hardware and software will be upgraded to support increase in transaction volume.

Accelerating Growth

Our maximum offering would allow us to expand operations at all fronts, either growing in all facets within five years or pushing for a third-party acquisition.


Our Leadership Team

Experienced appraisal professionals

John Iatesta

Chief Executive Officer

Responsible for overall management of Veptas’ sales functions and company direction. Founder and CEO of Information Assurance Professionals and co-founder of MasterServ Financial.


Anthony Roveda


30 years experience in the appraisal industry, Responsible for the general day to day operational decisions regarding the platforms form and function


John George

Chief Operating Officer

Over 25 years experience in multiple facets of technology and management. Responsible for overall management of Veptas’ Finance, Marketing and Human Resources.


Steve Jamison

Chief Technology Officer

A senior IT executive with over 35 years of technology and business experience. Responsible for Veptas’ cloud-based software development, product delivery and third-party vendor relationships.


Keith Wolf

Chief Compliance Officer

In charge of Veptas’ Compliance and Valuation Risk Management. A State Certified Residential Appraiser, Appraisal Institute member, has a Master Degree in Data Science and is a Licensed managing Real Estate Broker in IL, TX and IN. He was part of the project team for the first automated neural network appraisal valuation underwriting application in 1994 at Household Mortgage/Bank.


Lester Firstenberger

General Counsel

Recognized nationally as a regulatory attorney and expert in consumer finance, securitization, mortgage, and banking law. In a variety of capacities, over the past 30 years as an attorney, he has represented the interests of numerous financial institutions in billions of dollars of transactions. He has also co-founded several technologies that relate to regulatory compliance, mortgage banking, as well as digital identity and blockchain.



Added: 31 July 2018

I. Definitions

1.1. The "Company" refers to Veptas Technology Solutions Inc.

1.2. The "DUSTO" (Debt Until Security Token Offering) is an investment contract between the Company and each investor that is offered under applicable federal law and regulation[1]. This investment is being referred to as a security because the Company believes the investment meets the SEC definition of a security.

1.3. Each "DUSTO" Investment has two parts:

1.3.1. A Loan to the Company

- and -

1.3.2. The potential for a conversion of the Loan into Security Tokens

II. The Loan

Basic Terms:

2.1. Your investment is first a loan to the Company.

2.2. Principal: Is the dollar amount you choose to invest. The minimum Investment is $250. The maximum investment per investor is based on your personal income and net worth.

2.3. Simple Interest: Interest accrues at 20% annually using a Simple Interest calculation [2] .

2.3.1. Interest accrues and is paid at Maturity (October 2021) or sooner if prepaid by the Company.

2.3.2. There are no periodic or annual cash payments. All payments in cash will only occur at Maturity or upon the prepayment election by the Company.

2.3.3. The investment is structured to pay interest only on the principal amount. Interest will never accrue against any amount that is paid as interest. By way of example, if a $1,000 loan is held to maturity, you would be paid back your original investment of $1,000 in principal, and an amount equal to 20% interest on that the original investment amount or $200 in interest for each of the three years; a total of $600. This would make your total payback $1,600, $1000 in principal and $600 in interest.

2.4. There is also a payment event at the time of conversion to a security token but this is not a payment in cash, rather it is a payment of accrued interest in security tokens as described in Section III below.

III. The Security Token.

3.1. The Security Token is not Bitcoin.

3.1.1. It is another form of cryptocurrency that uses blockchain technology.

3.2. The complete terms of the Security Token will be defined by the Company in accordance with applicable law and regulation on or before the date of conversion of the loan to a Security Token.

3.3.The DUSTO Agreement specifies the calculation for the annual amount of money to be paid by the Company to all token holders as follows:

3.3.1. That percentage of profits of the Company (9.6% as described in 3.4.2. below) after all operating expenses are paid,

- and -

3.3.2. In the event of a sale of the company, that percentage (4%) of the value of the equity of the Company; not equity itself, that the token holders will receive.

3.4. How the DUSTO Investment Works:

3.4.1. At the Maturity date or sooner, the Company can satisfy its obligations under the DUSTO Investment by: Electing to pay all DUSTO Investors in cash meaning the Company would pay all principal plus interest directly to the Investor

- or - Electing to convert the DUSTO amount (original investment plus interest) to a security token issued by the Company.

3.4.2. If tokens are ever issued, all token holders will be entitled to the pro rata cash payments 12% of 80% of the profits (which equals 9.6%), -and-

3.4.3. If tokens are ever issued, and in the event of a sale of the Company while the tokens are issued and outstanding, all such tokenholders will be entitled to a pro rata cash payment of an amount equal to 4% of the value of the sale. For clarification, if the Company were sold for $100,000,000 all of the token holders collectively as a group would receive $4,000,000. You would receive your pro rata share of that pool which would be some number less than $4,000,000.

3.4.4. The DUSTO and the Tokens are not equity in the Company, the scenarios describe contractual rights in the DUSTO or Token contract. And while the payments may seem similar to dividends or equity allocations, they are not dividends nor equity.

[1] Pursuant to 15 U.S.C. 77d(a)(6) and 12 CFR 227.100 (“Reg CF")

[2] Simple Interest is money you can earn by initially investing some money (the principal). A percentage (the interest) of the principal is added to the principal, making your initial investment grow



Unfortunately, this securities offering is closed. For questions, please email Thanks!


Form C Download
Offering Statement Download
Form C/A Download
Updated (10 10 2018) Offering Statement Download
Press Release: Tony Meola joins Veptas Board of Directors Download

Other Disclosures

Read the Form C filed with the SEC for other important disclosures, like financial statements, Directors, Officers, shareholders with more than 20% of voting rights, and more.
Special Note Regarding Forward-Looking Statements
This offering contains forward-looking statements within the meaning of the federal securities laws. We caution investors that any forward-looking statements presented in this offering, or which management may make orally or in writing from time to time, are based on the Company’s beliefs and assumptions made by, and information currently available to, the Company. When used, the words “anticipate,” “believe,” “expect,” “intend,” “may,” “might,” “plan,” “estimate,” “project,” “should,” “will,” “would,” “result” and similar expressions, which do not relate solely to historical matters, are intended to identify forward-looking statements. Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties and factors that are beyond the Company’s control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. While forward-looking statements reflect the Company’s good faith belief when made, they are not guarantees of future performance. The Company expressly disclaims any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from time to time. It is not possible to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this offering may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We undertake no obligation to revise or publically release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements.

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