MAGFAST
MAGFAST is a revolutionary new family of wireless magnetic chargers that change charging for good.
Analytics
Raised to Date: $1,055,250
Aggregate Commitments $
Netcapital
11/25/2020
12/17/2020
$10,000
$1,070,000
$100
Equity - Common
RegCF
$20,000,000
Weekly Commitments $
12/31/2020
10,553%
99%
$47,966
Cornwall on Hudson, New York
Consumer Products, Goods & Services
Hardwaretech
B2C
Low
High
MAGFAST, with a post-money valuation of $21.07 million, is raising funds on NetCapital. The electronics company designs and manufactures premium magnetic charging products that are changing charging for good. The chargers of MAGFAST charge wirelessly and support every device from every brand. Seymour Segnit and Any Rau Segnit founded MAGFAST in 2017. The proceeds of the current crowdfunding round, with a minimum raise of $10,000 and a maximum raise of $1,070,000, will be used for tooling, manufacturing, product certification, and new products. MAGFAST test-launched in 2017, and generated pre-orders worth $600,000 in the first 24 hours. The company is on track to achieve over $10 million in pre-orders by the end of 2020.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-2,406,931 |
$-884,514 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,185,735 |
$554,904 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,462,165 |
$749,359 |
|
Short-Term Debt |
$127,084 |
$127,084 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$127,084 |
$127,084 |
Ratings
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