Staax

Staax

Closed: Apr. 2023

About this raise

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.

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Investment Overview

Invested this round: $97,100

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
02/27/2023
Close Date
04/10/2023
Min. Goal
$50,000
Max Goal
$124,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$25,000,000

Discount

0%

Company & Team

Company

Year Founded
2021
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
Folsom, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Nikki Varanasi
Title
CEO
Founder Name
Lucy Yang
Title
COO
Founder Name
Victoria Yang
Title
CTO

Financials

 Revenue
$0
as of FY2021
 Monthly Burn
$2,354
as of FY2021
 Runway
24+ months
as of FY2021

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

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$1,800,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/10/2023 Wefunder $25,000,000 $97,100 SAFE Funded RegCF
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Add to portfolio
Staax on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $25,000,000

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Follow Staax on Wefunder 2023

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Warning: according to the close date for this deal, Staax may no longer be accepting investments.

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