Africa Eats

[Closed for Investment] Africa Eats, with a valuation of $1.7 million, is raising funds on Wefunder. It is a for-profit organization tackling hunger and poverty in Africa. Africa Eats platform has 21 vetted and trained companies across eight countries that are processors, aggregators, and distributors of food and help provide food and food-related services to the poor in Africa. The portfolio companies of Africa Eats generated aggregate revenues of $36 million in 2023, growing by more than 50% per year over the past decade. Luni Libes and Jumaane Tafawa founded Africa Eats in November 2021. The current crowdfunding campaign has a minimum target of $50,001 and a maximum target of $123,999. The campaign proceeds will be used to help three companies list on the stock market.

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Investment Overview

Raised this Round: Raised: $0

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
06/25/2024
Close Date
11/05/2024
Min. Goal
$50,002
Max. Goal
$124,000
Min. Investment

$100

Security Type

Equity - Preferred

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.25

Pre-Money Valuation

$1,704,157

Company & Team

Company

Year Founded
2021
Industry
Farming & Agriculture
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Location
Bainbridge Island, Washington
Business Type
Growth
Company Website
Visit Website

Team

Employees
2
Prior Founder Exits?
No
Founder Name
Luni Libes
Title
CEO
Founder Name
Jumaane Tafawa
Title
Executive Director

Funding data not publicly available

Financials

as of Fiscal Year 2023
 Revenue
$0
 Monthly Burn
$550
 Runway
24+ months

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-45

$-9,984

Summary Balance Sheet

FY 2023 FY 2022

Cash

$3,438

$72,771

Accounts Receivable

$0

$0

Total Assets

$630,538

$599,871

Short-Term Debt

$13,467

$82,755

Long-Term Debt

$0

$0

Total Liabilities

$13,467

$82,755

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$677,100
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/05/2024 Wefunder $1,704,157 $0 Equity - Preferred Not Funded RegCF
03/22/2022 Wefunder $300,000 $127,100 Equity - Preferred Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Add to portfolio
Africa Eats on Wefunder 2024
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $1,704,157
Price per Share: $2.25

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Follow Africa Eats on Wefunder 2024

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Warning: according to the close date for this deal, Africa Eats may no longer be accepting investments.

Africa Eats Deal Report

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