Aladdin
Early Stage
Africa's 1st ecosystem bank
Analytics
Raised: $181,141
Aggregate Commitments $
Platform
Wefunder
Start Date
01/24/2022
Close Date
05/27/2022
Min. Goal
$150,000
Max. Goal
$1,000,000
Min. Investment
$100
Security Type
SAFE
Funding Type
RegCF
Series
Pre-Seed
Valuation Cap
$9,000,000
Discount Rate
10%
Rolling Commitments $
Status
Funded
Reporting Date
05/31/2022
Days Remaining
Funded
% of Min. Goal
121%
% of Max. Goal
18%
Likelihood of Max
Funded
Avg. Daily Raise
$1,473
Momentum
Funded
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Founder Profile
Location
Wilmington, Delaware
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
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: 01/24/2022
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