Rellevate
Early Stage
Digital banking platform
Overview
Raised: $0
Total Commitments ($USD)
Platform
SeedInvest
Start Date
02/10/2022
Close Date
03/30/2022
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$998
Security Type
Equity - Preferred
Series
Seed
SEC Filing Type
RegCF
/ RegD 506(c)
Price Per Share
$3.04
Pre-Money Valuation
$13,500,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
03/29/2022
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2020
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B
Margin
Low
Capital Intensity
Low
Rellevate, with a valuation of $13.5 million, is raising funds on SeedInvest. The company has developed a digital banking platform that enables employers to make everyday payday. The platform gives employees a digital bank account with earned wage access making 50% of the earned wages available between pay periods. Rellevate has signed contracts with 17 employers representing over 12,000 employees and has signed a distribution and lead generation agreement with Blue Coast. Stewart Stockdale founded Rellevate in July 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used for business development, client onboarding, account management, and product and technology.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$101,224 |
$0 |
|
COGS |
$146,070 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-619,103 |
$-22,302 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,058,063 |
$250,142 |
|
Accounts Receivable |
$15,109 |
$0 |
|
Total Assets |
$1,698,338 |
$250,142 |
|
Short-Term Debt |
$179,576 |
$22,444 |
|
Long-Term Debt |
$2,160,067 |
$250,000 |
|
Total Liabilities |
$2,339,643 |
$272,444 |
Financials as of: 02/10/2022
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