FlexPay on MicroVentures 2022 – KingsCrowd

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FlexPay on MicroVentures 2022 – KingsCrowd


Safety Sort

Convertible Notice

Reporting Date

08/10/2022

Probability of Max

unlikely

Momentum

cold.svg

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Business

Monetary & Insurance coverage Merchandise & Companies

FlexPay, with a valuation of $8 million, is elevating funds on MicroVentures. It’s a save-now-pay-later service supplier in Kenya. The service permits customers to order services or products on-line and make installment funds over time. FlexPay primarily works for non-banked and underbanked prospects who do not need the buying energy to pay for issues directly. The enterprise has been worthwhile over the past two years, with revenues of $290,522 and a internet revenue of $20,032 in 2021. Richard Machomba and Johnson Mwangi based FlexPay in December 2019. The present crowdfunding marketing campaign has a minimal goal of $50,000 and a most goal of $1,070,000. The marketing campaign proceeds can be used for advertising, product improvement, future hires, enterprise operations, and dealing capital.

Abstract Revenue and Loss Assertion

Income

$290,522

$255,055

COGS

$0

$0

Tax

$8,585

$13,178

 

 

Web Revenue

$20,032

$30,405

Abstract Stability Sheet

Money

$157,082

$150,000

Accounts Receivable

$102,367

$96,352

Whole Property

$262,063

$250,989

Quick-Time period Debt

$13,503

$17,868

Lengthy-Time period Debt

$3,716

$133,309

Whole Liabilities

$17,219

$151,177

Financials as of: 08/10/2022

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