TrustFund
Early Stage
TrustFund is a fintech platform helping people achieve financial wellness and avoid payday/title predatory loans. We’ve experienced strong user growth and are now looking to build out the team and continue developing unique credit products.
Overview
Raised: $0
Total Commitments ($USD)
Platform
Netcapital
Start Date
03/25/2020
Close Date
12/18/2020
Min. Goal
$10,000
Max. Goal
$107,000
Min. Investment
$99
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$2,500,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
12/19/2020
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2019
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
TrustFund, with a post-money valuation of $2.6 million, is raising funds on NetCapital. The company is doing business as Impact X Partners, LLC, and works as a fintech platform to help people achieve financial wellness. TrustFund offers its customers a debit card, which also works like a credit card in case of emergencies. The use of TrustFund platform also generates a TrustFund score that can be used as an alternative to the FICO score. TrustFund was founded by Nathan Pinto and Frank Santoni in 2019. The proceeds of the current crowdfunding round, with a minimum raise of $10,000 and a maximum raise of $107,000, will be used towards branding, new product development, customer service platform integration, and the CTO salary. TrustFund helps individuals manage their finances and also assists those overlooked by mainstream banking products.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-44,231 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$7,740 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$270,008 |
$0 |
|
Short-Term Debt |
$9,302 |
$0 |
|
Long-Term Debt |
$104,937 |
$0 |
|
Total Liabilities |
$114,239 |
$0 |
Financials as of: 03/25/2020
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