Social Media Gateways

Social Media Gateways

Early Stage

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

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

Overview

Raised to Date: Raised: $100,544

Total Commitments ($USD)

Platform

Wefunder

Start Date

05/04/2021

Close Date

09/08/2021

Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$10,000,000

Valuation Cap

$12,000,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

09/29/2021

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$798

# of Investors

92

Momentum
Funded
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Year Founded

2012

Industry

Business Services, Software, & Applications

Tech Sector

Fintech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

Las Vegas, Nevada

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: 05/04/2021
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Social Media Gateways on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $12,000,000

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