Makeba

Makeba

Early Stage

Easier payments and remittances for emerging markets

Easier payments and remittances for emerging markets

Overview

Raised to Date: Raised: $328,560

Total Commitments ($USD)

Platform

Wefunder

Start Date

07/16/2020

Close Date

10/31/2020

Min. Goal
$99,960
Max. Goal
$699,840
Min. Investment

$240

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$350.00

Pre-Money Valuation

$24,000,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

10/31/2020

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$3,100

# of Investors

203

Momentum
Funded
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Year Founded

2016

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

New York, New York

Business Type

High Growth

Makeba, with a $30 million pre-money valuation, is raising funds on Wefunder. The company has built a financial ecosystem to combine point-of-sale payments and money transfers into a platform and make the payments highly secure, faster, and cost-effective. The customers get to transact without credit cards or cash, only by using their smartphones. Makeba was founded by Yamandou Alexander in 2016 and has raised over $2.6 million since its inception. The current round of crowdfunding has a minimum target of $99,960 and a maximum target of $699,840, and the funds will be used for product development, salaries, marketing, and hosting and operations. Makeba is fully operational in the first West African market and has been seen its customer base growing 35% each month since its launch in January 2020.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$1,118,988

$1,111,287

Tax

$0

$0

 

 

Net Income

$-1,118,988

$-1,111,287

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$46,246

$229,223

Accounts Receivable

$0

$0

Total Assets

$86,992

$325,470

Short-Term Debt

$148,825

$62,195

Long-Term Debt

$178,148

$129,562

Total Liabilities

$326,973

$191,757

Financials as of: 07/16/2020
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Makeba on Wefunder
Platform: Wefunder
Security Type: Equity - Common
Valuation: $24,000,000
Price per Share: $350.00

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