Aladdin (2022)
About this raise
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.
Investment Overview
Invested : $181,141
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 01/24/2022
- Close Date
- 05/27/2022
$150,000
$1,000,000
$100
SAFE
Early Stage
RegCF
$9,000,000
10%
Company & Team
Company
- Year Founded
- 2021
- Industry
- Financial & Insurance Products & Services
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- High
- Capital Intensity
- Low
Financials
-
Revenue
- $143,071
- Monthly Burn
- $1,405
-
Runway
- 11 months
- Gross Margin
- 85%
Upgrade to gain access
-
$12.50 /month
billed annually - Free portfolio tracking, data-driven ratings, AI analysis and reports
- Plan Includes:
- Everything in Free, plus
- Company specific
Kingscrowd ratings and analyst reports
- Deal explorer and side-by-side comparison
- Startup exit and failure tracking
- Startup market filters and historical industry data
- Advanced company search ( with ratings)
- Get Edge Annual
Edge
Ratings 
Company Funding & Growth
Funding history
Founder Interview
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.