TeamUp

TeamUp

Closed: Aug. 2023

About this raise

TeamUp, with a valuation of $25 million, is raising funds on Republic. The company has developed a banking solution for student athletes and athletic programs. The solution helps student athletes take control of their spending, build and maintain a credit score, and gain financial education, along with helping coaches facilitate team budgeting and athletic directors distribute funds digitally. TeamUp simplifies team finances and is being used by a top 20 University. Alan Akina founded TeamUp in March 2022. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1.24 million. The campaign proceeds will be used for product development, sales and marketing, and new hires.

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Investment Overview

Invested this round: $267,400

Deal Terms

Total Commitments

Platform
Republic
Start Date
06/22/2023
Close Date
08/22/2023
Min. Goal
$25,000
Max Goal
$1,235,000
Min. Investment

$500

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$25,000,000

Discount

20%

Company & Team

Company

Year Founded
2022
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Location
OREM, Utah
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Alan Akina
Title
CEO

Financials

 Revenue
$0
as of FY2022
 Monthly Burn
$46,320
as of FY2022
 Runway
12.9 months
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-555,844

$0

Summary Balance Sheet

FY 2022 FY 2021

Cash

$595,983

$0

Accounts Receivable

$0

$0

Total Assets

$1,272,290

$0

Short-Term Debt

$118,134

$0

Long-Term Debt

$1,710,000

$0

Total Liabilities

$1,828,134

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$1,710,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
08/22/2023 Republic $25,000,000 $267,400 SAFE Funded RegCF
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Add to portfolio
TeamUp on Republic 2023
Platform: Republic
Security Type: SAFE
Valuation: $25,000,000

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Follow TeamUp on Republic 2023

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

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