FirstRoot
Early Stage
FirstRoot teaches financial literacy and civics as kids decide how to invest real money in their school.
Overview
Raised: $625,985
Total Commitments ($USD)
Platform
Netcapital
Start Date
05/23/2021
Close Date
10/20/2021
Min. Goal
$10,000
Max. Goal
$1,067,220
Min. Investment
$99
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$0.42
Pre-Money Valuation
$4,200,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
10/30/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$4,201
Momentum
Funded
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Year Founded
2020
Industry
Education, Training, & Coaching
Tech Sector
EdTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
FirstRoot, with a pre-money valuation of $4.2 million, is raising crowdfunding on NetCapital. The company has developed a software program to teach financial literacy to children. The SaaS company sells its program to schools where it gets integrated into the curriculum and helps kids decide how to invest real money. Verne Harnish and Alexander Osterwalder founded FirstRoot in January 2020. The proceeds of the current crowdfunding campaign, with a minimum raise of $10,000 and a maximum raise of $1,067,220, will be used for operational expenses, marketing and sales, curriculum development, product development, and compensation. FirstRoot guides students through the process of Participatory Budgeting and lets them learn by managing an actual budget.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$78,584 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-142,996 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$147,423 |
$0 |
|
Accounts Receivable |
$10,500 |
$0 |
|
Total Assets |
$416,678 |
$0 |
|
Short-Term Debt |
$487,541 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$487,541 |
$0 |
Financials as of: 05/23/2021
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