TeamUp

TeamUp

Early Stage

The empowering banking solution for student athletes and athletic programs.

The empowering banking solution for student athletes and athletic programs.

Overview

Raised to Date: Raised: $267,400

Total Commitments ($USD)

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

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$25,000,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

08/31/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$4,384

# of Investors

78

Momentum
Funded
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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

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.

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

Financials as of: 06/22/2023
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TeamUp on Republic 2023
Platform: Republic
Security Type: SAFE
Valuation: $25,000,000

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