Xiggit
Early Stage
Affordable, admin-free benefits built for hourly workers and freelancers
Overview
Raised: $199,137
Total Commitments ($USD)
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
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$5,000,000
Discount
15%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/01/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$3,375
# of Investors
335
Momentum
Funded
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Year Founded
2018
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
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.
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 |
Financials as of: 02/28/2022
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