SwitchBin

SwitchBin

Early Stage

Switch Your Tech... Fast!

Switch Your Tech... Fast!

Overview

Raised this Round: Raised: $19,462

Total Commitments ($USD)

Platform

StartEngine

Start Date

07/17/2022

Close Date

09/30/2022

Min. Goal
$10,000
Max. Goal
$1,069,998
Min. Investment

$250

Security Type

Equity - Common

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$3.12

Pre-Money Valuation

$24,975,000

Year Founded

2020

Industry

Business Services, Software, & Applications

Tech Sector

EnterpriseTech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Overland Park, Kansas

Business Type

Growth

SwitchBin, with a valuation of $25 million, is raising funds on StartEngine. The company has developed an automated solution for trading in and buying new devices. The interactive kiosk of SwitchBin will help users to trade in and upgrade their phones conveniently, securely, and quickly. The technology of SwitchBin can also be upgraded and applied to all connected devices, laptops, set-top boxes, and other categories. George Abdelmalak and Robert Kilinski founded SwitchBin in May 2020. The current crowdfunding campaign has a minimum target of $9,999.60 and a maximum target of $1,069,997.76. The campaign proceeds will be used for trial deployment.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-34,600

$-3,000

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$800

$0

Accounts Receivable

$0

$0

Total Assets

$62,400

$97,000

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 07/17/2022
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
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.
Add to portfolio
SwitchBin on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $24,975,000
Price per Share: $3.12

Follow company

Follow SwitchBin on StartEngine 2022

Buy SwitchBin's Deal Report

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

SwitchBin Deal Report

Get KingsCrowd’s comprehensive report on SwitchBin including:

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

Buy the SwitchBin deal report for only $10!

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