MAGFAST

MAGFAST is a revolutionary new family of wireless magnetic chargers that change charging for good.

Analytics

Raised to Date: Raised: $1,055,250

Aggregate Commitments $

Platform

Netcapital

Start Date

11/25/2020

Close Date

12/17/2020

Min. Goal

$10,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Equity - Common

Funding Type

RegCF

Pre-Money Valuation

$20,000,000

Rolling Commitments $

Status
Funded
Reporting Date

12/31/2020

Days Remaining
Funded
% of Min. Goal

10,553%

% of Max. Goal

99%

Likelihood of Max
Funded
Avg. Daily Raise

$47,966

Momentum
Funded
Log in or create a free account today to gain access to KingsCrowd analytics.
Location

Cornwall on Hudson, New York

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

MAGFAST, with a post-money valuation of $21.07 million, is raising funds on NetCapital. The electronics company designs and manufactures premium magnetic charging products that are changing charging for good. The chargers of MAGFAST charge wirelessly and support every device from every brand. Seymour Segnit and Any Rau Segnit founded MAGFAST in 2017. The proceeds of the current crowdfunding round, with a minimum raise of $10,000 and a maximum raise of $1,070,000, will be used for tooling, manufacturing, product certification, and new products. MAGFAST test-launched in 2017, and generated pre-orders worth $600,000 in the first 24 hours. The company is on track to achieve over $10 million in pre-orders by the end of 2020.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-2,406,931

$-884,514

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,185,735

$554,904

Accounts Receivable

$0

$0

Total Assets

$1,462,165

$749,359

Short-Term Debt

$127,084

$127,084

Long-Term Debt

$0

$0

Total Liabilities

$127,084

$127,084

Financials as of: 11/25/2020
Log in or create a free account today to gain access to KingsCrowd analytics.

Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
MAGFAST 12/02/2021 Netcapital $30,003,172 $3,465,204 Equity - Common Funded RegCF
MAGFAST 12/17/2020 Netcapital $20,000,000 $1,055,250 Equity - Common Funded RegCF
Log in or create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Starter

$8.33 /month
billed annually
Free portfolio tracking. Limited reports and filters.
Plan Includes:
Everything in Free, plus
Advanced company search ( limited filters)
Founder profiles and exclusive webinars
2 Analyst Reports per month
Get Starter Annual

Pro

$25 /month
billed annually
Unlimited analyst reports and market analytics.
Plan Includes:
Everything in Starter, plus
Full access to all Analyst Reports
Filter on Analyst Reports (e.g. Top Deal, Deal to Watch, etc.)
Market Analytics
Get Pro Annual

Merlin

$41.67 /month
billed annually
Full site access including Merlin ratings.
Plan Includes:
Everything in Pro, plus
Search and filter companies by Merlin ratings
Company specific Merlin rating and risk assessment
Get Merlin Annual
Already a member? Log in here.

Ratings KingsCrowd Startup Rating Methodology Article

Create your first portfolio

Create your very own investment portfolio on KingsCrowd.

Now you can track all of your startup investments in one place utilizing our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
MAGFAST on NetCapital
$
Platform: Netcapital
Security Type: Equity - Common
Valuation: $20,000,000
Invest in a different round for this company? Use my investment date to determine which raise I invested in.

Follow company

Follow MAGFAST on NetCapital