YellowPay
Early Stage
Revolutionary payment solution for the construction industry
Overview
Raised: $518,946
Total Commitments ($USD)
Platform
Wefunder
Start Date
07/19/2022
Close Date
10/09/2022
Min. Goal
$400,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$6,000,000
Valuation Cap
$8,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
10/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$6,407
# of Investors
148
Momentum
Funded
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Year Founded
2022
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B
Margin
Low
Capital Intensity
Low
YellowPay, with a valuation of $8 million, is raising funds on Wefunder. The company provides fast and flexible payment solutions for small and medium-sized construction businesses. The unique payment system of YellowPay empowers these businesses to access working capital through online payments, with 120 days repayment terms. YellowPay has already signed credit agreements of $150 million for the next 12 months, with credit agreements projected to grow to $1 billion by 2026. Rune Skog founded YellowPay in January 2022. The current crowdfunding campaign has a minimum target of $400,000 and a maximum target of $1,070,000. The campaign proceeds will be used for salaries and credit to partners.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$230,694 |
$0 |
|
COGS |
$223,631 |
$0 |
|
Tax |
$1,463 |
$0 |
| ||
| ||
|
Net Income |
$3,600 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$197,499 |
$0 |
|
Accounts Receivable |
$28,825 |
$0 |
|
Total Assets |
$226,324 |
$0 |
|
Short-Term Debt |
$1,463 |
$0 |
|
Long-Term Debt |
$221,181 |
$0 |
|
Total Liabilities |
$222,644 |
$0 |
Financials as of: 07/19/2022
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