Overview
Raised: $136,550
Total Commitments ($USD)
Platform
Wefunder
Start Date
09/29/2023
Close Date
12/06/2023
Min. Goal
$50,000
Max. Goal
$618,000
Min. Investment
$500
Security Type
SAFE
Series
Series A
SEC Filing Type
RegCF
Early Bird Val. Cap
$15,000,000
Valuation Cap
$20,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/07/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,008
# of Investors
61
Momentum
Funded
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Year Founded
2015
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
MySwimPro, with a valuation of $20 million, is raising funds on Wefunder. The fitness application offers training experience to beginners and professional swimmers with the help of training plans, video content, personalized workouts, and analytics to measure performance. MySwimPro has over 2 million app downloads and has generated over $7 million in subscription revenue with more than 13,000 paying subscribers. Fares Ksebati, Adam Oxner, and Michael Allon founded MySwimPro in March 2015. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for improving the core product, subscriber growth, and expansion of new product offerings.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$1,674,127 |
$1,262,582 |
|
COGS |
$246,462 |
$203,361 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-591,688 |
$-209,981 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$502,783 |
$162,161 |
|
Accounts Receivable |
$102,607 |
$66,602 |
|
Total Assets |
$605,390 |
$703,701 |
|
Short-Term Debt |
$630,051 |
$468,127 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$630,051 |
$468,127 |
Financials as of: 09/29/2023
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| MySwimPro | 12/06/2023 | Wefunder | $20,000,000 | $136,550 | SAFE | Funded | RegCF |
| MySwimPro | 02/28/2022 | Wefunder | $20,000,000 | $457,357 | SAFE | Funded | RegCF |
| MySwimPro | 04/03/2019 | Wefunder | $10,000,000 | $599,276 | SAFE | Funded | RegCF |
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