FinLitX

FinLitX

Early Stage

FinLitX is an autonomous app that teaches financial literacy without the need of human interaction.

FinLitX is an autonomous app that teaches financial literacy without the need of human interaction.

Overview

Raised to Date: Raised: $41,255

Total Commitments ($USD)

Platform

Netcapital

Start Date

03/04/2021

Close Date

04/28/2022

Min. Goal
$10,000
Max. Goal
$249,995
Min. Investment

$100

Security Type

Equity - Common

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$5.00

Pre-Money Valuation

$10,000,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/30/2022

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

$98

Momentum
Funded
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Year Founded

2014

Industry

Education, Training, & Coaching

Tech Sector

EdTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

Miami Beach, Florida

Business Type

Growth

FinLitX, with a post-money valuation of $10.2 million, is raising funds on NetCapital. The company has developed an autonomous app to provide financial literacy using advanced AI. The app identifies the vulnerabilities of users and applies machine learning, virtual reality, and other means to improve grades and self-esteem. Dwayne Samuels founded FinLitX in 2014. The current crowdfunding campaign of the company has a minimum target of $10,000 and a maximum target of $249,995. The proceeds of the raise will target product development, marketing and sales, debt repayment, salaries, and managers’ compensation. FinLitX is endorsed by NBA analyst Kenny Smith and has expanded its service to 11 states and three countries.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$519,070

$844,014

COGS

$445,339

$768,102

Tax

$0

$0

 

 

Net Income

$-1,654,752

$47,075

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$148,677

$102,214

Accounts Receivable

$695,896

$772,457

Total Assets

$1,354,332

$1,384,430

Short-Term Debt

$0

$0

Long-Term Debt

$1,225,000

$1,296,022

Total Liabilities

$1,225,000

$1,296,022

Financials as of: 03/04/2021
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FinLitX on NetCapital
Platform: Netcapital
Security Type: Equity - Common
Valuation: $10,000,000
Price per Share: $5.00

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Warning: according to the close date for this deal, FinLitX may no longer be accepting investments.

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