ZipZap

ZipZap

Early Stage

Global Money Transfer.

Global Money Transfer.

Overview

Raised this Round: Raised: $134,933

Platform

Wefunder

Start Date

04/24/2017

Close Date

07/13/2017

Min. Goal
$100
Max. Goal
$100,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Pre-Money Valuation

$1,000,000

Year Founded

2010

Industry

Financial & Insurance Products & Services

Tech Sector

Location

Orinda, California

ZipZap, with a valuation of $15 million, is raising funds on Wefunder. ZipZap is an app designed to streamline transactions in the global remittance market for migrant workers who send money home to their loved ones. The app has been created as the first hybrid Currency Router using blockchain and to cut operating costs. ZipZap has obtained a money transfer license in Canada and the UK and launched remittances to India, China, and the Philippines. Alan Safahi founded ZipZap in August 2006. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1 million. The campaign proceeds will be used for marketing, advertising, operations, product development, software development, and general and administrative expenses.

Summary Profit and Loss Statement

FY 2016 FY 2015

Revenue

$14,427

$145,226

COGS

$54,150

$10,256

Tax

$0

$0

 

 

Net Income

$-66,712

$-71,051

Summary Balance Sheet

FY 2016 FY 2015

Cash

$6,175

$57,392

Accounts Receivable

$2,952

$2,952

Total Assets

$32,742

$83,960

Short-Term Debt

$2,325,048

$2,338,802

Long-Term Debt

$606,046

$573,546

Total Liabilities

$2,931,094

$2,912,348

Financials as of: 04/24/2017
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
ZipZap 04/17/2018 StartEngine $20,000,000 $43,000 Convertible Note Funded RegCF
ZipZap 07/12/2017 Wefunder $1,000,000 $134,933 SAFE Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

Funding data not publicly available

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ZipZap on Wefunder 2017
Platform: Wefunder
Security Type: SAFE
Valuation: $1,000,000

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