MAGFAST

Neutral
BETA

MAGFAST is a revolutionary new family of wireless magnetic chargers that change charging for good.

Analytics

Raised to Date: $1,055,250

Aggregate Commitments $
Platform

Netcapital

Start Date

11/25/2020

Close Date

12/17/2020

Min. Goal

$10,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Equity - Common

Funding Type

RegCF

Pre-Money Valuation

$20,000,000

Weekly Commitments $
Status
Funded
Reporting Date

12/31/2020

Days Remaining
Funded
% of Min. Goal

10,553%

% of Max. Goal

99%

Likelihood of Max
Funded
Avg. Daily Raise

$47,966

Momentum
Funded
Location

Cornwall on Hudson, New York

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

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

last updated 12/17/2020

Ratings Platform - Beta Trial

Our new ratings and analytics platform is currently in Beta. To gain access to the Beta platform features, upgrade to a Pro paid account and accept the Beta terms on any page.

For a limited time, use coupon code "TRYMERLIN20" for a free 20 day trial of Kingscrowd Pro and Merlin Beta. Your paid subscription will activate at the end of 20 days. Cancel anytime.
Other Deals

teleCalm on Wefunder

Alzheimer’s and dementia are serious medical issues that affect a larger swath of the population. In the US…

Crowd
Pristeem on Wefunder

Pristeem has been selected as a “Deal to Watch” by KingsCrowd. This distinction is reserved for deals selected…

Crowd
Dan Clark Audio on StartEngine

The Dan Clark Audio team has been selected as a “Deal to Watch” by KingsCrowd. This distinction is…

Crowd
Create your first portfolio
WELCOME TO YOUR OWN INVESTMENTS PORTFOLIO ON KINGSCROWD.

Now you can track all of your startup investments in one place utilizing our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
Add MAGFAST on NetCapital
Follow company
Follow MAGFAST on NetCapital