TeamUp
Early Stage
The empowering banking solution for student athletes and athletic programs.
Overview
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
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
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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