Qube Money
Growth Stage
Cash envelope banking—giving the control of spending back to the people
Overview
Raised: $652,284
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/18/2021
Close Date
04/30/2022
Min. Goal
$50,000
Max. Goal
$2,100,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$76,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$3,380
# of Investors
392
Momentum
Funded
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Year Founded
2015
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Qube Money, with a valuation of $76 million, is raising funds on Wefunder. The company has developed digital cash envelope banking that gives control of spending back to the people. The app helps people to increase their savings, decrease spending on unplanned purchases, and decrease money stress. Qube Money has had 30,000 downloads and averages over 50 new customers per day. Shane Walker and Ryan Clark founded Qube Money in June 2015. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for marketing, development, and operations.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$16,667 |
$0 |
|
COGS |
$256 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-636,582 |
$-408,152 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$700,403 |
$462,145 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$3,227,193 |
$1,616,693 |
|
Short-Term Debt |
$146,281 |
$57,769 |
|
Long-Term Debt |
$298,954 |
$222,281 |
|
Total Liabilities |
$445,235 |
$280,050 |
Financials as of: 10/18/2021
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