Staax
Early Stage
Enabling peer-to-peer payments via fractional shares of stock
Overview
Raised: $97,100
Total Commitments ($USD)
Platform
Wefunder
Start Date
02/26/2023
Close Date
04/10/2023
Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$25,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,312
# of Investors
56
Momentum
Funded
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Year Founded
2021
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Staax, with a valuation of $25 million, is raising funds on Wefunder. The company has developed a platform to make investing social through fractional shares of stock. The platform enables peer-to-peer payments along with allowing users to transact through investments in a social way. Staax has a strong social media presence and has a waitlist of over 12,000 people since its opening. Nikki Varanasi, Lucy Yang, and Victoria Yang founded Staax in July 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for product development, hiring, and growth marketing.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$13 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-28,250 |
$0 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$250,000 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,254,750 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 02/26/2023
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