Hundy

Hundy

Early Stage

P2P Microloans for America's New Middle Class

P2P Microloans for America's New Middle Class

Overview

Raised to Date: Raised: $136,375

Total Commitments ($USD)

Platform

StartEngine

Start Date

06/04/2020

Close Date

12/15/2020

Min. Goal
$10,000
Max. Goal
$448,375
Min. Investment

$100

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$5,500,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

12/30/2020

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

$703

# of Investors

353

Momentum
Funded
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Year Founded

2016

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

C2C

Margin

High

Capital Intensity

Low

Location

Miami, Florida

Business Type

High Growth

Hundy, with a $5.5 million valuation cap, is raising funds on StartEngine. The mobile app helps people get microloans from people around them safely and quickly. The company is giving a unique approach to peer-to-peer lending and rewards good behaviour of people with higher creditworthiness. The borrowers can borrow up to $250, with a payback period of 31 days. Hundy was founded by Pete Budlong and Ram Hegde in 2016 and has raised over $900,000 since its inception. The proceeds of the current crowdfunding round, with a minimum target of $10,000 and a maximum target of $448,375, will be used to grow and expand the target audience. Hundy has already helped originate 7,000 loans on loan volume of $750,000. The app has a 92% active borrower retention rate and over 190,000 people on the waitlist.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$26,815

$2,211

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-140,760

$-134,647

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$5,525

$2,186

Accounts Receivable

$0

$0

Total Assets

$61,422

$18,597

Short-Term Debt

$98,869

$61,213

Long-Term Debt

$0

$0

Total Liabilities

$98,869

$61,213

Financials as of: 06/04/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Hundy 07/26/2021 StartEngine $5,750,000 $96,798 Convertible Note Funded RegCF
Hundy 12/15/2020 StartEngine $5,500,000 $136,375 Convertible Note Funded RegCF
Hundy 11/29/2019 StartEngine $4,000,000 $107,000 Convertible Note Funded RegCF
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Hundy on StartEngine
Platform: StartEngine
Security Type: Convertible Note
Valuation: $5,500,000

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