Overview

Raised to Date: Raised: $189,295

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

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    

Early Bird Val. Cap

$10,000,000

Valuation Cap

$15,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

05/04/2024

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$2,151

# of Investors

211

Momentum

Funded

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SweatPals

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

Company Website

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

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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