Unbanked (formerly Ternio BlockCard)

Growth Stage

Connecting DeFi and cryptocurrencies to banks, cards, and other legacy finance

Overview

Raised to Date: Raised: $82,062

Total Commitments ($USD)

Platform

StartEngine

Start Date

01/05/2023

Close Date

04/14/2023

Min. Goal

$10,000

Max. Goal

$2,764,219

Min. Investment

$250

Security Type

SAFE

Series

Seed

Funding Type

RegCF

Valuation Cap

$115,000,000

Discount Rate

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/03/2023

Days Remaining

70

% of Min. Goal

821%

% of Max. Goal

3%

Likelihood of Max
unlikely
Avg. Daily Raise

$2,830

# of Investors

96

Momentum
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Location

Alpharetta, Georgia

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Business Type

High Growth

Unbanked, with a valuation of $115 million, is raising funds on StartEngine. The company provides a platform for customers to move money instantly, with the real-world applications of blockchain and cryptocurrency. Unbanked allows users to buy using their cryptocurrency at about 50 million merchants. The company reported revenues of $19.9 million in 2021 and recently won the Shark Pitch competition. Ian Kane and Daniel Gouldman founded Unbanked in January 2018. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $2.7 million. The campaign proceeds will be used for marketing, operations, research and development, and legal expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$19,850,760

$9,385,513

COGS

$14,700,506

$7,144,963

Tax

$0

$0

 

 

Net Income

$-114,063

$-1,273,122

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$928,804

$893,707

Accounts Receivable

$79,000

$0

Total Assets

$6,807,535

$1,440,151

Short-Term Debt

$0

$0

Long-Term Debt

$2,418,078

$2,166,533

Total Liabilities

$2,418,078

$2,166,533

Financials as of: 01/05/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Unbanked (formerly Ternio BlockCard) 04/14/2023 StartEngine $115,000,000 $82,062 SAFE Active RegCF
Unbanked (formerly Ternio BlockCard) 09/03/2022 Republic $115,000,000 $2,229,296 SAFE Funded RegCF
Ternio BlockCard 07/12/2020 Republic $15,000,000 $1,070,000 SAFE Funded RegCF
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Unbanked on StartEngine 2023
$
Platform: StartEngine
Security Type: SAFE
Valuation: $115,000,000
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