Xiggit

Xiggit

Closed: Apr. 2022

About this raise

Xiggit, with a valuation of $5 million, is raising funds on Republic. The company provides employers with a low-cost admin-free benefits platform for hourly workers and freelancers. The employees get to choose their benefits from the easy-to-use Xiggit app and take them with them when they change jobs. Xiggit has started its pilot program with five employers and is adding one employer per week. Heather Dawson and Carmela Abraham founded Xiggit in July 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $500,000. The campaign proceeds will be used to develop the platform fully, add more benefits, and enhance the app.

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Investment Overview

Invested this round: $199,137

Deal Terms

Total Commitments

Platform
Republic
Start Date
02/28/2022
Close Date
04/28/2022
Min. Goal
$25,000
Max Goal
$500,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$5,000,000

Discount

15%

Company & Team

Company

Year Founded
2018
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Location
Palo Alto, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
7
Prior Founder Exits?
No
Founder Name
Carmela Abraham
Title
Chief Product Officer
Founder Name
Heather Dawson
Title
CEO

Financials

 Revenue
$0
 Monthly Burn
$2,523
 Runway
3.9 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-30,276

$-2,484

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$9,836

$14,048

Accounts Receivable

$0

$0

Total Assets

$1,461,452

$981,715

Short-Term Debt

$0

$0

Long-Term Debt

$45,908

$19,395

Total Liabilities

$45,908

$19,395

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/28/2022 Republic $5,000,000 $199,137 SAFE Funded RegCF
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Add to portfolio
Xiggit on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $5,000,000

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Follow Xiggit on Republic 2022

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