Category: Fintech

By now, the Forbes 30 Under 30 list has become more than a little notorious for the amount of entrants who go on to be charged with fraud. Notable alumni include FTX founder Sam Bankman-Fried, Frank CEO Charlie Javice, Joanna Smith-Griffin, founder of the AI startup AllHere Education, and “pharma bro” Martin Shkreli, among others. Now, another member of the list has been hit with federal charges.

Gökçe Güven, a 26-year-old Turkish national and the founder and CEO of fintech startup Kalder, was charged last week with alleged securities fraud, wire fraud, visa fraud, and aggravated identity theft.

The New York-based fintech startup — which uses the “Turn Your Rewards into [a] Revenue Engine” tagline — says it can help companies create and monetize individual rewards programs. The company was founded in 2022, and offers participating firms the opportunity to earn ongoing revenue streams via partner affiliate sales, Axios previously reported.

Güven was featured in last year’s Forbes 30 Under 30 list. The magazine notes in the writeup that Güven’s clients included major chocolatier Godiva and the International Air Transport Association, the trade organization that represents a majority of the world’s airlines. Kalder also claims to have enjoyed the backing of a number of prominent VC firms.

The U.S. Department of Justice alleges that, during Kalder’s seed round in April of 2024, Güven managed to raise $7 million from more than a dozen investors after presenting a pitch deck that was rife with false information.

According to the government, Kalder’s pitch deck claimed that there were 26 brands “using Kalder” and another 53 brands in “live freemium.” However, officials say that, in reality, Kalder had, in many cases, only been offering heavily discounted pilot programs to many of those companies. Other brands “had no agreement with Kalder whatsoever—not even for free services,” officials said in a press release announcing the indictment. The pitch deck also “falsely reported that Kalder’s recurring revenue had steadily grown month over month since February 2023 and that by March 2024, Kalder had reached $1.2 million in annual recurring revenue.” 

The government also accuses Güven of having kept two separate sets of financial books. One of those sets included “false and inflated numbers,” and was presented to investors or potential investors to hide the “true financial condition of the company,” the government claims. The DOJ also alleges that Güven used lies about Kalder as well as forged documents to obtain a category of visa reserved for individuals of “extraordinary ability,” that would allow her to live and work in the United States.

TechCrunch reached out to Güven through her personal website. The CEO said that she would be sharing a statement about the charges on Tuesday.

Ref link: Fintech CEO and Forbes 30 Under 30 alum has been charged for alleged fraud