Soraban
Early Stage
Helping CPAs give companies financial reviews much faster
Overview
Raised: $98,268
Total Commitments ($USD)
Platform
Wefunder
Start Date
07/28/2020
Close Date
12/04/2020
Min. Goal
$50,000
Max. Goal
$150,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$6,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/30/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$768
# of Investors
100
Momentum
Funded
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Year Founded
2019
Industry
Business Services, Software, & Applications
Tech Sector
Fintech
Distribution Model
B2B
Margin
High
Capital Intensity
Low
Soraban, with a valuation cap of $6 million, is raising crowdfunding on Wefunder. The system helps to automate the menial work of CPAs, thus helping them deliver their services faster. The process of data extraction and organization becomes automated and more efficient through the use of Soraban. The company was founded by Enoch Ko in 2019 and has raised over $30,000 since its founding. The current crowdfunding round has a minimum raise of $75,000 and a maximum raise of $150,000, and the proceeds will be used for engineering, hiring a full-time CPA, and risk, legal, and insurance expenses. Soraban has launched a paid pilot with Wefunder and has received a $15,000 grant from Y Combinator and $20,000 investment from XX Team.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$8,497 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-6,757 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$2,243 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$2,243 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 07/28/2020
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