SweatPals

SweatPals

Early Stage

Connect, sweat, and belong

Connect, sweat, and belong

Overview

Raised this Round: Raised: $189,295

Total Commitments ($USD)

Platform

Wefunder

Start Date

01/31/2024

Close Date

04/29/2024

Min. Goal
$50,000
Max. Goal
$550,000
Min. Investment

$200

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$10,000,000

Valuation Cap

$15,000,000

Discount

0%

Year Founded

2021

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Austin, Texas

Business Type

High Growth

SweatPals, with a valuation of $15 million, is raising funds on Wefunder. The company has developed an app that connects fitness enthusiasts with sports and fitness communities. SweatPals helps people build social networks based on shared fitness interests and empowers fitness leaders to monetize their passion by providing group chats, waivers, and ticketing. The platform has 40,000 members and has enabled 8,000 events, 450 communities, and 83,000 attendees in the first year of operations. Salar Shahini and Mandi Zhou founded SweatPals in September 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $550,000. The campaign proceeds will be used for engineering, product improvement, and marketing.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$12,367

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-425,675

$0

Summary Balance Sheet

FY 2022 FY 2021

Cash

$205,204

$0

Accounts Receivable

$0

$0

Total Assets

$205,204

$0

Short-Term Debt

$0

$0

Long-Term Debt

$630,879

$0

Total Liabilities

$630,879

$0

Financials as of: 01/31/2024
Create a free account today to gain access to Kingscrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific Kingscrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Ratings Kingscrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars

Founder Profile

SweatPals: Shaping Fitness Networking

SweatPals, under founder and CEO Salar Shahini's leadership, is reinventing how people connect through fitness and sports. This fitness marketplace app is a tool for finding workout buddies and a platform that fosters community and belonging among fitness enthusiasts. In this interview, Salar Shahini shares the inspiration behind SweatPals, the journey of building a diverse team, and his vision for making SweatPals a global phenomenon in connecting people through shared health interests.

Read Founder Interview

Founders: enhance your startup's credibility on Kingscrowd. Create an account to claim this raise page.
Add to portfolio
SweatPals on Wefunder 2024
Platform: Wefunder
Security Type: SAFE
Valuation: $15,000,000

Follow company

Follow SweatPals on Wefunder 2024

Buy SweatPals's Deal Report

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

SweatPals Deal Report

Get Kingscrowd's comprehensive report on SweatPals including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether SweatPals is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the SweatPals deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge