Nav.it
Early Stage
The financial health app helping everyone build a future of wealth + health
Overview
Raised: $60,200
Total Commitments ($USD)
Platform
Republic
Start Date
05/31/2022
Close Date
08/19/2022
Min. Goal
$25,000
Max. Goal
$1,000,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$26,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$762
# of Investors
100
Momentum
Funded
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Year Founded
2021
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Nav.it, with a valuation of $26 million, is raising funds on Republic. It is a financial health app that uses proprietary AI to provide automated coaching. The system identifies money habits, personalities, and potential risks and helps people build a future of wealth and health. Nav.it is targeting young earners and Zillennials and has been featured in Forbes, Bloomberg, Medium, and USA Today. Erin Papworth and Maia Monell founded Nav.it in January 2021. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,000,000. The campaign proceeds will be used for growth and product development.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$3,329 |
$58 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-867,727 |
$-912,326 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$266,860 |
$75,289 |
|
Accounts Receivable |
$250 |
$0 |
|
Total Assets |
$270,060 |
$69,032 |
|
Short-Term Debt |
$56,489 |
$55,178 |
|
Long-Term Debt |
$50,000 |
$0 |
|
Total Liabilities |
$106,489 |
$55,178 |
Financials as of: 05/31/2022
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