MySwimPro

MySwimPro

Growth Stage

The #1 App for Swimmers in the World

The #1 App for Swimmers in the World

Overview

Raised to Date: Raised: $136,550

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/28/2023

Close Date

12/06/2023

Min. Goal
$50,000
Max. Goal
$618,000
Min. Investment

$500

Security Type

SAFE

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$15,000,000

Valuation Cap

$20,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

12/30/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$2,008

# of Investors

61

Momentum
Funded
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Year Founded

2015

Industry

Fitness & Wellness

Tech Sector

HealthTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Ann Arbor, Michigan

Business Type

Growth

MySwimPro, with a valuation of $20 million, is raising funds on Wefunder. The fitness application offers training experience to beginners and professional swimmers with the help of training plans, video content, personalized workouts, and analytics to measure performance. MySwimPro has over 2 million app downloads and has generated over $7 million in subscription revenue with more than 13,000 paying subscribers. Fares Ksebati, Adam Oxner, and Michael Allon founded MySwimPro in March 2015. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for improving the core product, subscriber growth, and expansion of new product offerings.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,674,127

$1,262,582

COGS

$246,462

$203,361

Tax

$0

$0

 

 

Net Income

$-591,688

$-209,981

Summary Balance Sheet

FY 2022 FY 2021

Cash

$502,783

$162,161

Accounts Receivable

$102,607

$66,602

Total Assets

$605,390

$703,701

Short-Term Debt

$630,051

$468,127

Long-Term Debt

$0

$0

Total Liabilities

$630,051

$468,127

Financials as of: 09/28/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
MySwimPro 12/05/2023 Wefunder $20,000,000 $136,550 SAFE Funded RegCF
MySwimPro 02/27/2022 Wefunder $20,000,000 $457,357 SAFE Funded RegCF
MySwimPro 04/02/2019 Wefunder $10,000,000 $599,276 SAFE Funded RegCF
MySwimPro 08/30/2017 Wefunder $5,000,000 $131,530 SAFE 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

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MySwimPro on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $20,000,000

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