Uptip
Early Stage
Uptip is reinventing tipping, driving value for service workers and customers
Overview
Raised: $69,508
Total Commitments ($USD)
Platform
Wefunder
Start Date
03/08/2022
Close Date
05/07/2022
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
Convertible Note
Series
Series A
SEC Filing Type
RegCF
Valuation Cap
$9,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/31/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,158
# of Investors
32
Momentum
Funded
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Year Founded
2020
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B2C
Margin
High
Capital Intensity
Low
Uptip, with a valuation of $9 million, is raising funds on Wefunder. The company is reinventing tipping and driving the much-needed income for service workers. Uptip not only encourages tipping but also establishes a reliable channel for feedback. Uptip’s smartphone-based tipping and service review platform works for all service professions and offers transaction transparency. Eric Plam founded Uptip in July 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for hiring, marketing, and legal and accounting fees.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,674 |
$0 |
|
COGS |
$13,134 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-28,400 |
$-12,886 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$34,806 |
$76,439 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$100,719 |
$76,439 |
|
Short-Term Debt |
$83,342 |
$5,985 |
|
Long-Term Debt |
$50,663 |
$75,340 |
|
Total Liabilities |
$134,005 |
$81,325 |
Financials as of: 03/08/2022
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