Aladdin

Early Stage

Africa's 1st ecosystem bank

Overview

Raised to Date: Raised: $18,456

Total Commitments ($USD)

Platform

Microventures

Start Date

11/02/2022

Close Date

04/03/2023

Min. Goal

$25,000

Max. Goal

$361,210

Min. Investment

$100

Security Type

Convertible Note

Series

Seed

Funding Type

RegCF

Valuation Cap

$9,000,000

Discount Rate

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/01/2023

Days Remaining

61

% of Min. Goal

74%

% of Max. Goal

5%

Likelihood of Max
unlikely
Avg. Daily Raise

$203

# of Investors

46

Momentum
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Location

Wilmington, Delaware

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Business Type

Growth

Aladdin, with a valuation of $9 million, is raising funds on MicroVentures. It is a digital banking ecosystem specifically for Nigerian entrepreneurs, individuals, and small businesses. The products and services of Aladdin include savings accounts, lending services, e-payment services, and a marketplace to buy and sell goods. Aladdin has reported $280,000 in revenue through Q3 2022 and over 80,000 monthly active users in July 2022. Darlington Onyeagoro and David Echu founded Aladdin in November 2021. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $361,210. The campaign proceeds will be used for online and offline marketing, product enhancements, platform security, business expansion, and operational expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$143,071

$0

COGS

$20,963

$0

Tax

$0

$0

 

 

Net Income

$-16,854

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$15,508

$0

Accounts Receivable

$52,141

$0

Total Assets

$307,776

$0

Short-Term Debt

$122,453

$0

Long-Term Debt

$0

$0

Total Liabilities

$122,453

$0

Financials as of: 11/02/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Aladdin 04/03/2023 Microventures $9,000,000 $18,456 Convertible Note Active RegCF
Aladdin 05/27/2022 Wefunder $9,000,000 $181,141 SAFE Funded RegCF
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Aladdin on MicroVentures 2022
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Platform: Microventures
Security Type: Convertible Note
Valuation: $9,000,000
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