Transcend Network
Early Stage
We empower founders building the future of learning and work around the world.
Overview
$78,200 - RegCF
$118,200 - Total
$118,200 - Total
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/30/2023
Close Date
04/12/2023
Min. Goal
$50,000
Max. Goal
$300,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
/ RegD 506(c)
Valuation Cap
$6,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,086
# of Investors
33
Momentum
Funded
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Year Founded
2020
Industry
Business Services, Software, & Applications
Tech Sector
MarketplaceTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Transcend Network, with a valuation of $6 million, is raising funds on Wefunder. The company empowers founders in the ed-tech space and helps them to grow from the idea stage to product-market fit and beyond. The offerings of Transcend Network include The Exploration Bootcamp for validating startup ideas, The Transcend Fellowship for finding the product-market fit in the future of learning, and The Transcend Fund for investing in the first funding round of such businesses. Transcend Network has a community of over 200 founders and reported a 2.6 times revenue growth from 2021 to 2022. Alberto Arenaza and Michael Narea founded Transcend Network in January 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $300,000. The campaign proceeds will be used to host more events, scale the programs, and cover the operational costs.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$54,995 |
$9,900 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-22,388 |
$-6,789 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$7,560 |
$5,778 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$7,560 |
$5,778 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$36,737 |
$12,566 |
|
Total Liabilities |
$36,737 |
$12,566 |
Financials as of: 01/30/2023
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