Card.io
Early Stage
We're Transforming Boring Cardio into a Fun, Social Game of Team Turf War!
Overview
Raised: $59,400
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/18/2023
Close Date
02/01/2024
Min. Goal
$53,750
Max. Goal
$107,500
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$5,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
02/28/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$566
# of Investors
42
Momentum
Funded
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Year Founded
2022
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Card.io, with a valuation of $5 million, is raising funds on Wefunder. The company has developed a fun and engaging platform for people to enjoy addictive activity around cardio. Card.io transforms outdoor activity into a community-based game of turf war, which enables players to claim, steal, and defend their turf with friends through outdoor cardio. The platform has 6,000 users across 385 cities in 65 countries and has a paid corporate wellness pilot with Oracle. Destin Bell, Max Miranda, and Nirav Patel founded Card.io in June 2022. The current crowdfunding campaign has a minimum target of $53,750 and a maximum target of $107,500. The campaign proceeds will be used for salaries, contractor labor, marketing ad spending, and backend operations.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$350 |
$0 |
|
COGS |
$30,000 |
$18,837 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-135,405 |
$-24,892 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$150,572 |
$41,870 |
|
Accounts Receivable |
$2,100 |
$0 |
|
Total Assets |
$152,672 |
$41,870 |
|
Short-Term Debt |
$13,427 |
$16,000 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$13,427 |
$16,000 |
Financials as of: 10/18/2023
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