MOVO

ON-DEMAND Mobile Banking with End-to-End CONTACTLESS Payments

Analytics

Raised to Date: Raised: $217,629

Aggregate Commitments $
Platform

StartEngine

Start Date

06/28/2021

Close Date

12/21/2021

Min. Goal

$9,998

Max. Goal

$1,069,993

Min. Investment

$250

Security Type

Equity - Common

Funding Type

RegCF

Series

Series B

Pre-Money Valuation

$150,127,708

Rolling Commitments $
Status

Active

Reporting Date

07/29/2021

Days Remaining

145

% of Min. Goal

2,177%

% of Max. Goal

20%

Likelihood of Max
likely
Avg. Daily Raise

$7,020

# of Investors

104

Momentum
cool
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Location

Palo Alto, California

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Business Type

Growth

MOVO, with a pre-money valuation of $150 million, is raising crowdfunding on StartEngine. The company offers on-demand mobile banking with end-to-end contactless payments. The app is built to empower customers to deposit, mint, pay, receive, send, save and spend money and convert crypto to USD. Eric Solis founded MOVO in 2014. The current crowdfunding campaign has a minimum raise of $9,997.99 and a maximum raise of $1,069,993.33, and the funds will be used to launch new technologies and features. MOVO has developed the first-of-its-kind financial ecosystem technology called HyperBIN for building and integrating banking, payments, and blockchain solutions in one app.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$5,557,915

$1,625,862

COGS

$3,213,563

$1,644,356

Tax

$1,478

$3,447

 

 

Net Income

$-374,186

$-2,879,785

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$183,265

$46,542

Accounts Receivable

$1,903,456

$212,783

Total Assets

$45,334,583

$3,162,169

Short-Term Debt

$44,867,224

$3,269,361

Long-Term Debt

$937,737

$219,000

Total Liabilities

$45,804,961

$3,488,361

Financials as of: 06/28/2021
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