People Finance (previously Stonks Trading) (2023)

People Finance (previously Stonks Trading) (2023)

Closed: Apr. 2023

About this raise

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.

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Investment Overview

Not Funded: $0

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
02/06/2023
Close Date
04/10/2023
Min. Goal
$50,000
Max Goal
$500,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$22,500,000

Valuation Cap

$25,000,000

Discount

0%

Company & Team

Company

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
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Anthony Hughes
Title
CEO

Funding data not publicly available

Financials

 Revenue
$12,741
as of FY2021
 Monthly Burn
$29,373
as of FY2021
 Runway
3 months
as of FY2021

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$12,741

$0

COGS

$31,466

$0

Tax

$0

$0

 

 

Net Income

$-352,471

$0

Summary Balance Sheet

FY 2021 FY 2020

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

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$737,556
VC Backed?
No
Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
People Finance (previously Stonks Trading) 04/10/2023 Wefunder $25,000,000 $0 SAFE Not Funded RegCF
Stonks Trading 06/30/2021 Wefunder $10,000,000 $351,045 Convertible Note Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Employee History

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Add to portfolio
People Finance on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $25,000,000

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Follow People Finance on Wefunder 2023

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