Easy Expense

Early Stage
FinTech using AI to turn your phone into an automated expense tracker
Overview
Raised: $112,525
Rolling Commitments ($USD)
Status
Active
Reporting Date
03/27/2023
Days Remaining
5
% of Min. Goal
450%
% of Max. Goal
14%
Likelihood of Max
Avg. Daily Raise
$2,084
# of Investors
165
Momentum
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Year Founded
2022
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
Easy Expense, with a valuation of $6 million, is raising funds on Republic. The company has developed an AI-based application to turn the phone into an automatic expense tracker. The app automates financial data aggregation for small businesses and solves a major pain point for users. Easy Expense includes a magic receipt scanner to reduce manual input and make receipt tracking fun and also helps in digitizing paper documents. The app recorded 100,000 organic downloads within the first year and reported a 700% year-over-year revenue growth. Elijah Bucher founded Easy Expense in July 2022. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $800,000. The campaign proceeds will be used to increase paid-user acquisition, increase development velocity, and grow revenue.
Summary Profit and Loss Statement
Most Recent Year | Prior Year | |
---|---|---|
Revenue |
$190,378 |
$17,474 |
COGS |
$55,683 |
$10,833 |
Tax |
$-2,785 |
$-2,156 |
| ||
| ||
Net Income |
$-9,727 |
$-11,315 |
Summary Balance Sheet
Most Recent Year | Prior Year | |
---|---|---|
Cash |
$36,515 |
$10,418 |
Accounts Receivable |
$14,000 |
$4,560 |
Total Assets |
$50,516 |
$14,978 |
Short-Term Debt |
$71,558 |
$26,293 |
Long-Term Debt |
$0 |
$0 |
Total Liabilities |
$71,558 |
$26,293 |
Financials as of: 02/01/2023
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