FinLitX

Early Stage

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

Analytics

Raised to Date: Raised: $38,280

Aggregate Commitments $

Platform

Netcapital

Start Date

03/05/2021

Close Date

12/31/2021

Min. Goal

$10,000

Max. Goal

$249,995

Min. Investment

$100

Security Type

Equity - Common

Funding Type

RegCF

Series

Pre-Seed

Pre-Money Valuation

$10,000,000

Rolling Commitments $

Status

Active

Reporting Date

12/05/2021

Days Remaining

26

% of Min. Goal

383%

% of Max. Goal

15%

Likelihood of Max
unlikely
Avg. Daily Raise

$139

Momentum
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Location

Miami Beach, Florida

Industry

Education, Training, & Coaching

Tech Sector

EdTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

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: 03/05/2021
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FinLitX on NetCapital
$
Platform: Netcapital
Security Type: Equity - Common
Valuation: $10,000,000

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