Easy Expense

Easy Expense

Early Stage

FinTech using AI to turn your phone into an automated expense tracker

FinTech using AI to turn your phone into an automated expense tracker

Overview

Raised to Date: Raised: $238,349

Total Commitments ($USD)

Platform

Republic

Start Date

01/31/2023

Close Date

04/30/2023

Min. Goal
$25,000
Max. Goal
$800,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$6,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/30/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$2,709

# of Investors

281

Momentum
Funded
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Year Founded

2022

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Sioux Falls, South Dakota

Business Type

Growth

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

FY 2021 FY 2020

Revenue

$190,378

$17,474

COGS

$55,683

$10,833

Tax

$-2,785

$-2,156

 

 

Net Income

$-9,727

$-11,315

Summary Balance Sheet

FY 2021 FY 2020

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: 01/31/2023
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Easy Expense on Republic 2023
Platform: Republic
Security Type: SAFE
Valuation: $6,000,000

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