TurboPass

TurboPass

Growth Stage

Verify Customers Instantly

Verify Customers Instantly

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

StartEngine

Start Date

06/01/2023

Close Date

06/30/2023

Min. Goal
$15,000
Max. Goal
$1,235,000
Min. Investment

$500

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.01

Pre-Money Valuation

$20,050,551

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

06/29/2023

Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise

$0

Momentum
Not Funded
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Year Founded

2018

Industry

Business Services, Software, & Applications

Tech Sector

EnterpriseTech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Location

Austin, Texas

Business Type

High Growth

TurboPass, with a valuation of $20.05 million, is raising funds on StartEngine. The company has developed a platform to verify critical information for businesses. The platform provides instant access to recent and reliable data and creates a digital alternative for accessing the information instantly. TurboPass has gone from 23 signed businesses in 2020 to 3,489 in April 2023, with revenue growth of 740% from 2020 to 2023. Michael Jarman and Kenneth Jarman founded TurboPass in June 2018. The current crowdfunding campaign has a minimum target of $14,999 and a maximum target of $1.23 million. The campaign proceeds will be used for research and development, incentives, company employment, and working capital.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$2,257,591

$1,404,889

COGS

$593,719

$401,591

Tax

$0

$0

 

 

Net Income

$-530,114

$-144,105

Summary Balance Sheet

FY 2022 FY 2021

Cash

$1,403,657

$186,098

Accounts Receivable

$35,727

$6,268

Total Assets

$1,567,140

$306,650

Short-Term Debt

$17,350

$0

Long-Term Debt

$0

$0

Total Liabilities

$17,350

$0

Financials as of: 06/01/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
TurboPass 06/29/2023 StartEngine $20,050,551 $0 Equity - Preferred Not Funded RegCF
TurboPass Corporation 01/30/2020 Wefunder $4,500,000 $80,701 Convertible Note Funded RegCF
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Price per Share History

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

Valuation History

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.

Employee History

Funding data not publicly available

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TurboPass on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $20,050,551
Price per Share: $1.01

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