Overview

Raised to Date: Raised: $533,332

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

StartEngine

Start Date

05/03/2020

Close Date

04/30/2021

Min. Goal

$9,999

Max. Goal

$1,070,000

Min. Investment

$101

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    

Price Per Share

$0.96

Pre-Money Valuation

$23,100,000

Rolling Commitments ($USD)

Status

Funded

Reporting Date

05/01/2021

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$1,477

# of Investors

1,112

Momentum

Funded

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Fluz App

Year Founded

2018

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2B

Margin

Low

Capital Intensity

Low

Location

New York, New York

Business Type

High Growth

Company Website

Fluz App, with a pre-money valuation of $23.1 million, is raising funds on StartEngine. It is a cashback app that allows users to earn cash backs while they or their friends shop. The rewards can be earned on purchases of food, clothes, movies, and rides. The app supports social and sustainable earning. Fluz App was founded by Maurice Harary in 2018. The current round of crowdfunding of the company has a minimum goal of $10,000 and a maximum goal of $1,070,000, and the proceeds will be used to scale up the business and add more shoppers. Fluz App reached 30,000 users in the first 100 days of its launch and had over $10 million gross merchandise value transacted in just six months.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$5,713,866	$0
COGS	$5,597,755	$0
Tax	$0	$0
Net Income	$-1,285,500	$-1,120,877

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$258,059	$52,539
Accounts Receivable	$0	$0
Total Assets	$518,626	$127,587
Short-Term Debt	$641,158	$0
Long-Term Debt	$0	$0
Total Liabilities	$641,158	$0

Financials as of: 05/03/2020

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Founder Profile: Maurice Harary of the Fluz App

Cashback apps and rewards are common ways for consumers to earn a little supplementary income. But many have a narrow scope, meaning that their users are limited in both how much money they can earn back and how they can earn that money.

The Fluz App wants to change that. Fluz adds a new dynamic to the cashback system: networking. Users generate rewards on both their own purchases and also the purchases of their friends who use the app.

We recently sat down with co-founder Maurice Harary to talk about how the Fluz App works, how they differentiate from competition, and where the company is headed…

Read Founder Interview