Edly ISA Marketplace
Early Stage
Income share agreement marketplace that generated over $380,000 in revenue in the first five months of 2020
Overview
Raised: $450,735
Total Commitments ($USD)
Platform
Microventures
Start Date
09/15/2020
Close Date
12/21/2020
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegCF
/ RegD 506(c)
Valuation Cap
$12,500,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/30/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$4,695
# of Investors
841
Momentum
Funded
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Year Founded
2019
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Edly ISA Marketplace, with a valuation cap of $12.5 million, is raising funds on MicroVentures. The marketplace connects investors with students looking to finance their education through income share agreements (ISAs). Edly ISA Marketplace aims to make ISAs more popular as a professional asset class. Edly ISA Marketplace was founded by Chris Ricciardi and Charles Trafton in August 2019 and has raised more than $2.5 million in previous rounds of financing. The current crowdfunding campaign has a minimum raise of $25,000 and a maximum raise of $1,070,000. The funds will be used for general marketing, research and development, future wages, and general working capital. Edly platform has over 2,500 ISA contracts and generated more than $380,000 in revenue in the first five months of 2020.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$336,079 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$1,605,935 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$493,966 |
$0 |
|
Accounts Receivable |
$177,599 |
$0 |
|
Total Assets |
$707,730 |
$0 |
|
Short-Term Debt |
$493,664 |
$0 |
|
Long-Term Debt |
$400,000 |
$0 |
|
Total Liabilities |
$893,664 |
$0 |
Financials as of: 09/15/2020
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