People Finance (previously Stonks Trading)

Early Stage

The future of neo-banking starts with People!

Overview

Raised to Date: Raised: $30,470

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/06/2023

Close Date

04/30/2023

Min. Goal

$50,000

Max. Goal

$500,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$22,500,000

Valuation Cap

$25,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/27/2023

Days Remaining

34

% of Min. Goal

61%

% of Max. Goal

6%

Likelihood of Max
unlikely
Avg. Daily Raise

$622

Momentum
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Year Founded

2021

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Windsor Heights, Iowa

Business Type

Growth

Company Website

People Finance, with a valuation of $25 million, is raising funds on Wefunder. The company has developed a platform that simplifies money management and asset allocation. It also empowers the users to bank with Stonks Banking, trade with Stonks Trading, and manage their portfolios with Stonks Manager. People Finance has over 1,000 limited beta users and a waitlist of more than 12,000 for banking services. Anthony Hughes founded People Finance in February 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $500,000. The campaign proceeds will be used for marketing, development of banking features, app, and trading platform, engineering, and emergency burn.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$12,741

$0

COGS

$31,466

$0

Tax

$0

$0

 

 

Net Income

$-352,471

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$89,573

$0

Accounts Receivable

$0

$0

Total Assets

$92,284

$0

Short-Term Debt

$7,802

$0

Long-Term Debt

$253,664

$0

Total Liabilities

$261,466

$0
Financials as of: 02/06/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
People Finance (previously Stonks Trading) 04/30/2023 Wefunder $25,000,000 $30,470 SAFE Active RegCF
Stonks Trading 06/30/2021 Wefunder $10,000,000 $351,045 Convertible Note Funded RegCF
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People Finance on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $25,000,000

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