Fluz App

Fluz App

Closed: Apr. 2021

About this raise

Fluz App, with a pre-money valuation of $23.1 million, is raising funds on StartEngine. It is a cashback app that allows users to earn cash backs while they or their friends shop. The rewards can be earned on purchases of food, clothes, movies, and rides. The app supports social and sustainable earning. Fluz App was founded by Maurice Harary in 2018. The current round of crowdfunding of the company has a minimum goal of $10,000 and a maximum goal of $1,070,000, and the proceeds will be used to scale up the business and add more shoppers. Fluz App reached 30,000 users in the first 100 days of its launch and had over $10 million gross merchandise value transacted in just six months.

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Investment Overview

Invested this round: $533,332

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
05/04/2020
Close Date
04/30/2021
Min. Goal
$9,999
Max Goal
$1,070,000
Min. Investment

$101

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.96

Pre-Money Valuation

$23,100,000

Company & Team

Company

Year Founded
2018
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B
Margin
Low
Capital Intensity
Low
Location
New York, New York
Business Type
High Growth
Company Website
Visit Website

Team

Employees
12
Prior Founder Exits?
No
Founder Name
Maurice Harary
Title
CEO

Financials

 Revenue
$5,713,866
 Monthly Burn
$107,125
 Runway
2.4 months
Gross Margin
2%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$5,713,866

$0

COGS

$5,597,755

$0

Tax

$0

$0

 

 

Net Income

$-1,285,500

$-1,120,877

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$258,059

$52,539

Accounts Receivable

$0

$0

Total Assets

$518,626

$127,587

Short-Term Debt

$641,158

$0

Long-Term Debt

$0

$0

Total Liabilities

$641,158

$0

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/30/2021 StartEngine $23,100,000 $533,332 Equity - Common Funded RegCF
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Founder Profile

Founder Profile: Maurice Harary of the Fluz App

Cashback apps and rewards are common ways for consumers to earn a little supplementary income. But many have a narrow scope, meaning that their users are limited in both how much money they can earn back and how they can earn that money.

The Fluz App wants to change that. Fluz adds a new dynamic to the cashback system: networking. Users generate rewards on both their own purchases and also the purchases of their friends who use the app.

We recently sat down with co-founder Maurice Harary to talk about how the Fluz App works, how they differentiate from competition, and where the company is headed...

Read Founder Interview

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Add to portfolio
Fluz App on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $23,100,000
Price per Share: $0.96

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

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