Overview

Raised to Date: Raised: $181,141

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Funding History

Growth Charts

Total Commitments ($USD)

Platform

Wefunder

Start Date

01/23/2022

Close Date

05/27/2022

Min. Goal

$150,000

Max. Goal

$1,000,000

Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    

Valuation Cap

$9,000,000

Discount

10%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

05/30/2022

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$1,473

# of Investors

231

Momentum

Funded

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Aladdin

Year Founded

2021

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Wilmington, Delaware

Business Type

Growth

Company Website

Aladdin, with a valuation of $9 million, is raising funds on Wefunder. It is Africa’s first ecosystem bank for freelancers and small business owners. The Aladdin app helps support the daily hustle of freelancers, individuals, and small business owners and gives them the financial tools they need. The app also aggregates all the solutions that individuals and SMEs need with its APIs, SDKs, and mini-programs via partnerships. Aladdin has over 40,000 users and has been revenue positive in its first six months. Darlington Onyeagoro founded Aladdin in November 2021. The current crowdfunding campaign has a minimum target of $150,000 and a maximum target of $1,000,000. The campaign proceeds will be used for marketing, operational expenses, work infrastructure, and platform expansion.

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: 01/23/2022

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Raise History

Offering Name	Close Date	Platform	Valuation/Cap	Total Raised	Security Type	Status	Reg Type
Aladdin	04/27/2024	Wefunder	$9,000,000	$65,551	SAFE	Active	RegCF
Aladdin	04/02/2023	Microventures	$9,000,000	$32,916	Convertible Note	Funded	RegCF
Aladdin	05/26/2022	Wefunder	$9,000,000	$181,141	SAFE	Funded	RegCF

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• Price per Share
• Valuation
• Revenue
• Employees

Price per Share Valuation Revenue Employees

Price per Share History

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

Valuation History

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.

Employee History

Aladdin Founder Darlington Onyeagoro Is Empowering African Small Businesses

Africa has a high concentration of self-employed workers. In 2019, 14 African countries ranked among the top 15 countries in the world with the highest self-employment rates. With the COVID-19 pandemic pushing large portions of the workforce online, many of these individuals may have to use multiple programs to manage their businesses.

Aladdin Digital Bank has curated its comprehensive app to make life easier for freelancers and small businesses in Africa. It provides financial services, a marketplace, social content, and even employee benefits. We reached out to co-founder and CEO Darlington Onyeagoro to learn more about why he dropped an earlier project to work on Aladdin and how the company plans to expand.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview