Social Media Gateways

Early Stage

Borderless eCommerce & Mobile Digital Payments from Anyone to Anywhere Worldwide Share

Analytics

Raised to Date: Raised: $100,544

Aggregate Commitments $

Platform

Wefunder

Start Date

05/05/2021

Close Date

09/08/2021

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$12,000,000

Discount Rate

20%

Rolling Commitments $

Status
Funded
Reporting Date

09/30/2021

Days Remaining
Funded
% of Min. Goal

201%

% of Max. Goal

40%

Likelihood of Max
Funded
Avg. Daily Raise

$798

Momentum
Funded
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Location

Las Vegas, Nevada

Industry

Business Services, Software, & Applications

Tech Sector

Fintech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

Social Media Gateways, with a $12 million valuation cap, is raising funds on Wefunder. The company has developed a borderless digital business platform that enables e-commerce and mobile digital payments from anyone to anywhere. The company has integrated its proven technology platform, Ssnapp, with enhancements to create PaySoko. Moses Kusasira, Tommy Richardson, and Ed Hohmann founded Social Media Gateways in 2012 and have raised over $2.7 million in previous rounds of financing. The current crowdfunding round has a minimum raise of $50,000 and a maximum raise of $250,000, and the funds will be used for marketing, product development, and product deployment. Social Media Gateways has already launched its product in the US and three key cities in Kenya, Africa.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$56,300

$47,630

COGS

$25,000

$30,000

Tax

$0

$0

 

 

Net Income

$-43,629

$-67,180

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$3,969

$4,266

Accounts Receivable

$37,000

$14,000

Total Assets

$383,160

$358,190

Short-Term Debt

$12,370

$17,400

Long-Term Debt

$357,200

$327,200

Total Liabilities

$369,570

$344,600

Financials as of: 05/05/2021
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Social Media Gateways on Wefunder
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Platform: Wefunder
Security Type: SAFE
Valuation: $12,000,000

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