Vital Card
Early Stage
Future of Social Credit Cards
Overview
Raised: $348,481
Total Commitments ($USD)
Platform
StartEngine
Start Date
11/19/2020
Close Date
04/03/2021
Min. Goal
$9,999
Max. Goal
$1,069,999
Min. Investment
$500
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$1.03
Pre-Money Valuation
$10,022,952
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,601
# of Investors
938
Momentum
Funded
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Year Founded
2017
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Vital Card, with a pre-money valuation of $10 million, is raising funds on StartEngine. It is the world’s first social credit card that pays users for spending and sharing responsibly. The card leverages social gamification and the gig economy and provides up to 5% cashback on all spendings. Chris Bridges, Adam Spencer, and Vincent Bradley founded Vital Card in 2017. The current crowdfunding campaign has a minimum target of $9,999.24 and a maximum target of $1,069,999.02, and the funds will be used to speed up product development and reach the target market. The pre-launch campaign of Vital Card went viral. The company has 150,000 new waitlist members and a partnership with Evolve Bank and Trust.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-668,129 |
$-1,257,471 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$44,782 |
$174,822 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$210,939 |
$285,319 |
|
Short-Term Debt |
$56,921 |
$13,173 |
|
Long-Term Debt |
$2,594,980 |
$2,044,980 |
|
Total Liabilities |
$2,651,901 |
$2,058,153 |
Financials as of: 11/19/2020
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