Avenify on Republic

A marketplace lending platform for ISAs

Raise to date: $301,909

Reporting Date: 05/03/2020

Key Stats

Minimum Raise

$25,000

Maximum Raise

$1,070,000

Likelihood of Max Unlikely
Start Date

10/03/2019

Stop Date

04/29/2020

Days Remaining

Closed

Security Type

SAFE

Investment Minimum

$100

Deal Type

Top Deal


Investment Summary

Status

Confirmed Closed

# of Investors

1,151

% of Minimum Raised

1,208%

% of Maximum Raised

28%

Dollars Per Day to Reach Max

N/A

DPD* Committed

$1,445

DPD* Category

$0

DPD* All Companies

$908

Kingscrowd Momentum

$301,909

Total Dollars Raised

Commitments

Weekly Commitments ($)
Aggregate Commitments ($)

SEC Filing Data from Kingscrowd

Avenify, a marketplace lending platform for Income Share Agreements, is raising funds on Republic. The company has a valuation cap of $4 million and is revolutionizing the student financing market. Avenify helps the students to fund their education through ISAs rather than traditional loans. By doing so, students do not need to pay interest on loans; instead, they share a fixed percentage of their income with the company for a stipulated period of time. Avenify was founded by Justin Potts and Timo Sheridan in July 2018 and has raised around $100,000 since its inception. The current round of crowdfunding has a minimum goal of $25,000 and a maximum goal of $107,000. Avenify has over 2,000 student sign-ups and has processed more than 500 funding applications. It plans to grow to 10,000 students and 2,500 applications by 2020, with projected revenues of $100,000.

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